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

Modiv Industrial, Inc. (NYSE:MDV) declared a monthly dividend on Monday, March 17th, Wall Street Journal reports. Investors of record on Monday, June 30th will be given a dividend of 0.0975 per share on Tuesday, July 15th. This represents a $1.17 dividend on an annualized basis and a dividend yield of 7.52%. The ex-dividend date is Monday, June 30th.

Modiv Industrial has a payout ratio of 3,900.0% 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 $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 Stock Down 1.3 %

MDV stock opened at $15.56 on Wednesday. The business’s 50-day moving average price is $15.02 and its 200-day moving average price is $15.79. The stock has a market cap of $155.07 million, a P/E ratio of -141.44 and a beta of -0.22. Modiv Industrial has a twelve month low of $13.69 and a twelve month high of $18.11.

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.