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

Key Points

• Modiv Industrial, Inc. declared a monthly dividend of $0.10 per share, with a dividend yield of 8.2%, and the ex-dividend date set for December 31st.
• The company has a high payout ratio of 835.7%, suggesting it is relying on its balance sheet as it cannot cover dividends with earnings alone.
• Weiss Ratings upgraded Modiv Industrial from a "sell" to a "hold," while the stock currently maintains a consensus "Buy" rating with an average target price of $18.00.

Modiv Industrial, Inc. (NYSE:MDV - Get Free Report) announced a monthly dividend on Friday, October 17th. Stockholders of record on Wednesday, December 31st will be paid a dividend of 0.0975 per share on Thursday, January 15th. This represents a c) annualized dividend and a dividend yield of 8.2%. The ex-dividend date is Wednesday, December 31st.

Modiv Industrial has a payout ratio of 835.7% indicating that 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 0.2%

Shares of NYSE MDV traded down $0.04 during mid-day trading on Friday, hitting $14.35. 29,074 shares of the company traded hands, compared to its average volume of 47,611. Modiv Industrial has a 1 year low of $13.62 and a 1 year high of $18.11. The stock has a market capitalization of $145.72 million, a price-to-earnings ratio of -32.60 and a beta of -0.32. The business has a 50 day moving average of $14.84 and a two-hundred day moving average of $14.77.

Analyst Ratings Changes

Separately, Weiss Ratings raised Modiv Industrial from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $18.00.

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.

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