Modiv Industrial, Inc. (NYSE:MDV - Get Free Report) announced a monthly dividend on Friday, November 8th,Wall Street Journal reports. Investors of record on Friday, February 28th will be given a dividend of 0.0975 per share on Tuesday, March 25th. This represents a $1.17 dividend on an annualized basis and a yield of 6.98%. The ex-dividend date is Friday, February 28th. This is a positive change from Modiv Industrial's previous monthly dividend of $0.10.
Modiv Industrial has a dividend payout ratio of 1,045.5% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Modiv Industrial to earn $1.44 per share next year, which means the company should continue to be able to cover its $1.15 annual dividend with an expected future payout ratio of 79.9%.
Modiv Industrial Price Performance
NYSE MDV traded up $0.05 on Friday, hitting $16.76. The stock had a trading volume of 58,509 shares, compared to its average volume of 34,110. The business's fifty day moving average price is $16.60 and its 200 day moving average price is $15.53. The stock has a market cap of $157.88 million, a price-to-earnings ratio of -152.36, a price-to-earnings-growth ratio of 2.59 and a beta of -0.21. Modiv Industrial has a 52-week low of $13.50 and a 52-week high of $18.11.
Modiv Industrial (NYSE:MDV - Get Free Report) last announced its earnings results on Tuesday, August 6th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.28). The business had revenue of $11.34 million for the quarter, compared to analyst estimates of $11.76 million. Modiv Industrial had a net margin of 6.72% and a return on equity of 1.40%. During the same period in the prior year, the company earned $0.31 earnings per share. As a group, sell-side analysts anticipate that Modiv Industrial will post 1.32 EPS for the current year.
About Modiv Industrial
(
Get Free Report)
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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