Modiv Industrial, Inc. (MDV) To Go Ex-Dividend on June 28th

Modiv Industrial, Inc. (NYSE:MDV) announced a monthly dividend on Wednesday, March 20th, Wall Street Journal reports. Investors of record on Friday, June 28th will be given a dividend of 0.0958 per share on Thursday, July 25th. This represents a $1.15 annualized dividend and a yield of 8.21%. The ex-dividend date is Friday, June 28th.

Modiv Industrial has a payout ratio of -884.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Modiv Industrial to earn $1.36 per share next year, which means the company should continue to be able to cover its $1.15 annual dividend with an expected future payout ratio of 84.6%.

Modiv Industrial Stock Down 2.1 %

Shares of NYSE MDV opened at $14.00 on Wednesday. The firm’s 50 day simple moving average is $15.09 and its 200-day simple moving average is $15.15. Modiv Industrial has a 12 month low of $11.79 and a 12 month high of $19.12.

Analyst Upgrades and Downgrades

Separately, Alliance Global Partners initiated coverage on shares of Modiv Industrial in a research report on Monday, April 29th. They set a “buy” rating and a $18.00 price target on the stock.

Modiv Industrial Company Profile

Modiv Industrial, Inc is an internally managed REIT that is focused on single-tenant net-lease industrial manufacturing real estate. The Company actively acquires critical industrial manufacturing properties with long-term leases to tenants that fuel the national economy and strengthen the nation's supply chains.