Modiv Industrial, Inc. (NYSE:MDV) Announces $0.10 Dividend

Modiv Industrial, Inc. (NYSE:MDV) announced a dividend on Wednesday, May 22nd, NASDAQ reports. Stockholders of record on Wednesday, July 31st will be given a dividend of 0.0958 per share on Monday, August 26th. The ex-dividend date is Wednesday, July 31st.

Modiv Industrial has a dividend payout ratio of -884.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 0.1 %

NYSE MDV opened at $14.79 on Monday. Modiv Industrial has a 12-month low of $11.79 and a 12-month high of $19.12. The company has a market capitalization of $139.77 million, a PE ratio of -31.47, a price-to-earnings-growth ratio of 2.40 and a beta of -0.23. The firm’s 50 day moving average is $14.73 and its 200-day moving average is $15.05.

Analyst Upgrades and Downgrades

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

About Modiv Industrial

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.