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

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

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. 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 Performance

Shares of Modiv Industrial stock opened at $14.82 on Tuesday. The business has a 50 day moving average of $14.72 and a 200 day moving average of $15.05. Modiv Industrial has a 52 week low of $11.79 and a 52 week high of $19.12.

Analysts Set New Price Targets

Separately, Alliance Global Partners started coverage on Modiv Industrial in a 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.