Modiv Industrial Inc Stock Price, News & Analysis

Modiv Industrial (NYSE:MDV) announced it will report Q3 2024 financial results on November 6, 2024, before market open, followed by a conference call at 11:00 a.m. ET. CEO Aaron Halfacre provided a detailed update on a potential joint venture deal that the company ultimately decided not to pursue. The deal involved over 20 manufacturing properties in the eastern U.S., with a nine-figure purchase price at an accretive cap rate. Modiv would have acquired slightly less than half the equity initially, with plans to acquire the remainder later.

Halfacre explained that the decision to pass on the deal was due to misaligned time horizons and potential risks associated with rushing asset sales. He emphasized the company's focus on maximizing shareholder value while managing risk. Halfacre also mentioned another potential deal, stating they won't provide further updates until something is signed. He concluded by highlighting Modiv's portfolio of high-quality industrial manufacturing properties producing essential American-made goods.

Modiv Industrial (NYSE:MDV), the only public REIT focused exclusively on industrial manufacturing real estate, has declared dividends for both preferred and common shareholders. For Series A Preferred Stock, a quarterly cash dividend of $0.4609375 per share will be paid on October 15, 2024, to stockholders of record as of September 30, 2024. This represents an annualized dividend rate of $1.84375 per share.

For Common Stock, monthly distributions of $0.09583 per share have been declared for October, November, and December 2024. These will be paid on or about November 25, December 24, and January 27, 2025, respectively. The current monthly distribution equates to an annualized rate of $1.15 per share, yielding 6.9% based on the closing price of $16.64 on August 30, 2024.

Modiv Industrial (NYSE:MDV) announced Q2 2024 results with rental income of $11.3 million, a slight decrease due to portfolio changes. However, AFFO increased by 17.3% year-over-year to $3.9 million. The company completed a $5.2 million acquisition of an industrial manufacturing property in Tampa, Florida, with a 20-year lease at an initial 8.0% cap rate. Modiv also repurchased 656,191 Class C units and 123,809 common shares for $11.54 million, an accretive transaction increasing AFFO per diluted share to $0.37 on a pro forma basis. The company maintains a fully covered dividend yield of 7.79%. Modiv is in discussions for a potential joint venture with a private equity firm to acquire a stake in their industrial manufacturing portfolio.

Modiv Industrial, Inc. (NYSE:MDV), the only public REIT focused exclusively on industrial manufacturing real estate properties, has announced it will release its second quarter 2024 financial results on August 6, 2024, before the market opens. The company will host a conference call the same day at 7:30 a.m. Pacific Time (10:30 a.m. Eastern Time) to discuss the results.

Investors can access the live conference call by dialing 1-877-407-0789 or 1-201-689-8562. A webcast of the call will also be available through the company's website at www.modiv.com or via a direct link provided in the announcement.

Modiv Industrial, the only public REIT focused exclusively on industrial manufacturing real estate properties, announced quarterly dividends for Series A Preferred Stock and monthly distributions for Common Stock. Preferred shareholders will receive a quarterly cash dividend of $0.4609375 per share, equating to an annualized rate of $1.84375 per share, payable on July 15, 2024. Common shareholders will receive a monthly distribution of $0.09583 per share for July, August, and September 2024, amounting to an annualized distribution rate of $1.15 per share and a 7.3% dividend yield based on the May 21, 2024, closing price of $15.66.

Modiv Industrial reported its first-quarter 2024 results, with highlights including NAV per share and a discussion of its financial performance.

Modiv Industrial, Inc. (NYSE:MDV) will report its first quarter 2024 financial results on May 2. The company focuses on acquiring industrial manufacturing real estate properties. A conference call will be held to discuss the results.