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

Modiv Industrial, Inc. (NYSE:MDV) declared a monthly dividend on Friday, March 14th, Wall Street Journal reports. Stockholders 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 annualized dividend and a dividend yield of 7.66%. The ex-dividend date of this dividend is Monday, June 30th.

Modiv Industrial has a dividend 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 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 Up 0.3 %

Shares of MDV traded up $0.04 during mid-day trading on Friday, reaching $15.28. The company’s stock had a trading volume of 34,504 shares, compared to its average volume of 30,536. Modiv Industrial has a 52 week low of $13.69 and a 52 week high of $18.11. The company’s fifty day moving average price is $14.98 and its two-hundred day moving average price is $15.82. The stock has a market cap of $152.30 million, a PE ratio of -138.91 and a beta of -0.22.

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.