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

Modiv Industrial, Inc. (NYSE:MDV - Get Free Report) announced a monthly dividend on Friday, June 20th, Wall Street Journal reports. Investors of record on Tuesday, September 30th will be given a dividend of 0.0975 per share on Wednesday, October 15th. This represents a $1.17 annualized dividend and a dividend yield of 8.03%. The ex-dividend date is Tuesday, September 30th.

Modiv Industrial has a dividend 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 Stock Up 1.4%

MDV traded up $0.19 during midday trading on Friday, hitting $14.56. 62,953 shares of the company traded hands, compared to its average volume of 36,773. The company's 50-day moving average is $14.86 and its 200 day moving average is $15.10. The firm has a market capitalization of $147.39 million, a PE ratio of -161.70 and a beta of -0.31. Modiv Industrial has a 52 week low of $13.62 and a 52 week high of $18.11.

Insider Buying and Selling

In related news, CEO Aaron Scott Halfacre acquired 2,000 shares of Modiv Industrial stock in a transaction dated Thursday, May 8th. The stock was purchased at an average cost of $14.48 per share, for a total transaction of $28,960.00. Following the purchase, the chief executive officer now directly owns 115,412 shares of the company's stock, valued at approximately $1,671,165.76. This trade represents a 1.76% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders bought 6,835 shares of company stock valued at $97,737 over the last 90 days. Company insiders own 2.80% of the company's stock.

Hedge Funds Weigh In On Modiv Industrial

An institutional investor recently raised its position in Modiv Industrial stock. Jane Street Group LLC boosted its holdings in Modiv Industrial, Inc. (NYSE:MDV - Free Report) by 129.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 45,494 shares of the company's stock after purchasing an additional 25,645 shares during the quarter. Jane Street Group LLC owned approximately 0.45% of Modiv Industrial worth $730,000 as of its most recent SEC filing. 8.21% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

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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