Modiv Industrial, Inc. (MDV) to Issue Monthly Dividend of $0.10 on July 15th

Modiv Industrial, Inc. (NYSE:MDV) announced a monthly dividend on Monday, March 17th, Wall Street Journal reports. Investors of record on Monday, June 30th will be paid a dividend of 0.0975 per share on Tuesday, July 15th. This represents a $1.17 dividend on an annualized basis and a yield of 7.52%. The ex-dividend date of this dividend is Monday, June 30th.

Modiv Industrial has a dividend payout ratio of 3,900.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 Price Performance

Shares of Modiv Industrial stock opened at $15.56 on Wednesday. The company has a market capitalization of $155.07 million, a price-to-earnings ratio of -141.44 and a beta of -0.22. Modiv Industrial has a 1 year low of $13.69 and a 1 year high of $18.11. The business has a fifty day simple moving average of $15.02 and a two-hundred day simple moving average of $15.79.

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.