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

Modiv Industrial, Inc. (NYSE:MDV) announced a monthly dividend on Monday, November 11th, Wall Street Journal reports. Stockholders of record on Monday, March 31st will be given a dividend of 0.0975 per share on Friday, April 25th. This represents a $1.17 dividend on an annualized basis and a dividend yield of 7.42%. The ex-dividend date is Monday, March 31st. This is a 1.8% increase from Modiv Industrial’s previous monthly dividend of $0.10.

Modiv Industrial has a payout ratio of 3,900.0% meaning 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 Performance

Modiv Industrial stock opened at $15.76 on Friday. The company has a market capitalization of $157.08 million, a PE ratio of -143.27 and a beta of -0.22. Modiv Industrial has a fifty-two week low of $13.69 and a fifty-two week high of $18.11. The firm has a 50 day moving average price of $15.21 and a 200 day moving average price of $15.78.

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.