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

Key Points

• Modiv Industrial, Inc. announced a monthly dividend of $0.10, with a dividend yield of 8.2% set to be paid on December 15th, given that shareholders are on record by November 28th.
• The company has a concerning dividend payout ratio of 835.7%, indicating it is primarily relying on its balance sheet to fund dividend payments instead of earnings.
• Analysts forecast a target stock price of $18.00 for Modiv Industrial, with mixed ratings showing one analyst giving a Strong Buy and another a Hold rating.

Modiv Industrial, Inc. (NYSE:MDV - Get Free Report) declared a monthly dividend on Friday, October 17th. Stockholders of record on Friday, November 28th will be given a dividend of 0.0975 per share on Monday, December 15th. This represents a c) dividend on an annualized basis and a dividend yield of 8.2%. The ex-dividend date is Friday, November 28th.

Modiv Industrial has a dividend 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 trading on Friday, reaching $14.35. The stock had a trading volume of 29,074 shares, compared to its average volume of 47,611. Modiv Industrial has a 52 week low of $13.62 and a 52 week high of $18.11. The firm has a market capitalization of $145.72 million, a price-to-earnings ratio of -32.60 and a beta of -0.32. The stock has a fifty day simple moving average of $14.84 and a two-hundred day simple moving average of $14.77.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of Modiv Industrial from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $18.00.

Modiv Industrial Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.