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

Modiv Industrial, Inc. (NYSE:MDV) announced a dividend on Wednesday, November 6th,NASDAQ Dividends reports. Stockholders of record on Friday, January 31st will be paid a dividend of 0.0975 per share on Tuesday, February 25th. The ex-dividend date is Friday, January 31st. This is a positive change from Modiv Industrial’s previous dividend of $0.10.

Modiv Industrial has a payout ratio of -1,170.0% 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 $0.87 per share next year, which means the company may not be able to cover its $1.17 annual dividend with an expected future payout ratio of 134.5%.

Modiv Industrial Trading Down 1.8 %

Shares of MDV stock opened at $14.42 on Wednesday. The firm has a market capitalization of $139.10 million, a P/E ratio of -131.60 and a beta of -0.20. The firm’s fifty day simple moving average is $15.37 and its 200 day simple moving average is $15.77. Modiv Industrial has a 1 year low of $13.69 and a 1 year high of $18.11.

Modiv Industrial (NYSE:MDV) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.52). The company had revenue of $11.59 million for the quarter, compared to analyst estimates of $11.90 million. Modiv Industrial had a return on equity of 1.42% and a net margin of 6.72%. During the same quarter last year, the company earned $0.33 EPS. Equities research analysts anticipate that Modiv Industrial will post 1.18 EPS for the current fiscal year.

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.