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

Modiv Industrial, Inc. (NYSE:MDV) declared a monthly dividend on Tuesday, March 17th. Stockholders of record on Friday, May 29th will be given a dividend of 0.10 per share on Monday, June 15th. This represents a c) annualized dividend and a dividend yield of 8.2%. The ex-dividend date is Friday, May 29th.

Modiv Industrial has a dividend payout ratio of 857.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Modiv Industrial to earn $0.87 per share next year, which means the company may not be able to cover its $1.20 annual dividend with an expected future payout ratio of 137.9%.

Modiv Industrial Stock Performance

Shares of MDV traded up $0.29 during mid-day trading on Thursday, reaching $14.57. The company had a trading volume of 52,530 shares, compared to its average volume of 57,626. The company has a market capitalization of $149.66 million, a price-to-earnings ratio of -56.05 and a beta of -0.31. The firm has a 50-day moving average price of $14.98 and a 200 day moving average price of $14.75. Modiv Industrial has a 52 week low of $13.62 and a 52 week high of $17.15.

Wall Street Analyst Weigh In

Several equities research analysts have commented on MDV shares. Cantor Fitzgerald began coverage on Modiv Industrial in a report on Wednesday, February 4th. They issued an “overweight” rating and a $18.00 target price on the stock. Weiss Ratings raised Modiv Industrial from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, January 26th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Modiv Industrial has an average rating of “Buy” and an average target price of $18.00.

Modiv Industrial Company Profile

Modiv Industrial, Inc (NYSE: MDV) is a publicly traded real estate investment trust that specializes in the acquisition, ownership and management of single-tenant industrial properties. The company’s portfolio is anchored by net-lease agreements with corporate and public sector tenants, providing stable, long-term cash flows. Modiv Industrial focuses on light manufacturing facilities, warehouse and distribution centers, and similar industrial real estate assets that serve as critical links in supply chains.

Modiv Industrial pursues a geographically diversified strategy, targeting properties in key U.S.