Modiv Industrial, Inc. (NYSE:MDV) Increases Dividend to $0.10 Per Share

Modiv Industrial, Inc. (NYSE:MDV - Get Free Report) declared a monthly dividend on Monday, November 11th,Wall Street Journal reports. Shareholders 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 annualized dividend and a yield of 7.13%. The ex-dividend date is Monday, March 31st. This is a boost from Modiv Industrial's previous monthly dividend of $0.10.

Modiv Industrial has a payout ratio of 1,045.5% meaning 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 Stock Performance

MDV stock traded down $0.36 during trading on Monday, reaching $16.40. 50,575 shares of the company traded hands, compared to its average volume of 27,086. The business has a 50 day simple moving average of $16.60 and a 200 day simple moving average of $15.54. Modiv Industrial has a 12 month low of $13.50 and a 12 month high of $18.11. The company has a market capitalization of $158.19 million, a price-to-earnings ratio of -152.36, a price-to-earnings-growth ratio of 2.54 and a beta of -0.21.

Modiv Industrial (NYSE:MDV - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.52). Modiv Industrial had a return on equity of 1.42% and a net margin of 6.72%. The firm had revenue of $11.59 million during the quarter, compared to analysts' expectations of $11.90 million. During the same period in the prior year, the firm posted $0.33 earnings per share. As a group, research analysts forecast that Modiv Industrial will post 1.32 EPS for the current year.

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.