Modiv Industrial, Inc. to Issue Monthly Dividend of $0.10 (NYSE:MDV)

Modiv Industrial, Inc. (NYSE:MDV) declared a monthly dividend on Friday, March 14th, Wall Street Journal reports. Shareholders of record on Monday, June 30th will be paid a dividend of 0.0975 per share on Tuesday, July 15th. This represents a $1.17 dividend on an annualized basis and a yield of 7.66%. The ex-dividend date of this dividend is Monday, June 30th.

Modiv Industrial has a payout ratio of 3,900.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities 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 Up 0.3 %

Shares of Modiv Industrial stock opened at $15.28 on Friday. The company’s fifty day simple moving average is $14.98 and its two-hundred day simple moving average is $15.82. The company has a market cap of $152.30 million, a P/E ratio of -138.91 and a beta of -0.22. Modiv Industrial has a 12-month low of $13.69 and a 12-month high of $18.11.

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.