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

Modiv Industrial, Inc. (NYSE:MDV - Get Free Report) declared a monthly dividend on Friday, June 20th, Wall Street Journal reports. Shareholders of record on Tuesday, September 30th will be paid a dividend of 0.0975 per share on Wednesday, October 15th. This represents a $1.17 dividend on an annualized basis and a yield of 8.13%. The ex-dividend date is Tuesday, September 30th.

Modiv Industrial has a payout ratio of 835.7% meaning 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 Down 1.4%

Shares of NYSE:MDV traded down $0.20 during midday trading on Monday, hitting $14.39. The stock had a trading volume of 82,736 shares, compared to its average volume of 36,866. Modiv Industrial has a 1 year low of $13.62 and a 1 year high of $18.11. The stock has a 50 day moving average price of $14.86 and a two-hundred day moving average price of $15.06. The company has a market capitalization of $145.63 million, a PE ratio of -159.87 and a beta of -0.31.

Analyst Ratings Changes

Separately, B. Riley assumed coverage on shares of Modiv Industrial in a research report on Tuesday, April 22nd. They issued a "buy" rating and a $18.00 price objective for the company.

Insider Activity

In related news, CEO Aaron Scott Halfacre purchased 3,121 shares of the business's stock in a transaction dated Tuesday, June 3rd. The stock was acquired at an average price of $14.10 per share, for a total transaction of $44,006.10. Following the acquisition, the chief executive officer now directly owns 120,000 shares of the company's stock, valued at $1,692,000. This trade represents a 2.67% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders acquired 6,835 shares of company stock valued at $97,737 in the last three months. 2.80% of the stock is currently owned by company insiders.

Institutional Trading of Modiv Industrial

An institutional investor recently raised its position in Modiv Industrial stock. Goldman Sachs Group Inc. raised its stake in Modiv Industrial, Inc. (NYSE:MDV - Free Report) by 38.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 34,557 shares of the company's stock after buying an additional 9,615 shares during the period. Goldman Sachs Group Inc. owned approximately 0.34% of Modiv Industrial worth $555,000 at the end of the most recent reporting period. 8.21% of the stock is owned by institutional investors and hedge funds.

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.