Modiv Industrial Inc Stock Price, News & Analysis

Modiv Inc. (NYSE:MDV) reported consistent revenues of $10.2 million for Q3 2022, marking a 17% increase year-over-year after adjusting for a prior year's one-time fee. The Adjusted Funds From Operations (AFFO) were $3.1 million, or $0.31 per diluted share. The company executed a strategic portfolio repositioning, acquiring $28.7 million in industrial properties and selling $22.2 million in office properties, realizing a gain of $4.7 million. With a current dividend yield of 11%, Modiv has maintained a disciplined investment approach amidst market volatility.

Modiv Inc. (NYSE:MDV) has received a 'Buy' recommendation from Ladenburg Thalmann & Co., adding to the existing four 'Buy' ratings from independent analysts, indicating strong confidence in the stock. The consensus target price suggests over 90% upside potential from current levels. The CEO highlighted the company's shift towards industrial manufacturing properties while offloading non-core assets. Modiv offers a robust monthly dividend with a double-digit yield, appealing to investors seeking stable returns in a volatile market.

Modiv Inc. (NYSE:MDV) announced a regular quarterly cash dividend of $0.4609375 per share on its 7.375% Series A Preferred Stock for Q4 2022, payable on January 17, 2023. This reflects an annualized rate of $1.84375. Additionally, monthly cash distributions of $0.09583 per share on Class C Common Stock will be paid for January, February, and March 2023, with payments on February 24, March 24, and April 25, respectively, representing an annualized rate of $1.15.

Modiv Inc. (NYSE:MDV), a real estate investment trust, announced the successful expansion of its Credit Facility to $400 million as of October 21, 2022. This includes a $150 million revolving credit and a $250 million term loan, with an accordion option allowing for total commitments up to $750 million. The interest rates vary based on the company’s leverage ratio, currently at 38%, with fixed-rate debt making up 97% of its obligations. This expansion supports Modiv's strategy to invest in net-leased industrial properties.

Modiv Inc (NYSE:MDV) will report its third quarter financial results on November 14, 2022, prior to the market opening. A conference call will be held on the same day at 8:00 a.m. PT to discuss these results. Modiv is an internally managed REIT with a $540 million real estate portfolio as of June 30, 2022, focusing on single-tenant net-lease properties crucial to tenants. The company's strategy emphasizes innovation and aims to deliver monthly dividends to investors.

Modiv Inc. (NYSE:MDV) announced that Janney Montgomery Scott LLC has initiated coverage of the Company with a ‘Buy’ recommendation and a price target of $20 per share. This brings the total number of independent analysts covering Modiv to four, with an average consensus price target of $20.25. CEO Aaron Halfacre expressed appreciation for the recognition and highlighted the Company’s focus on enhancing its real estate portfolio by transitioning to industrial manufacturing assets. Modiv has a diversified portfolio valued at approximately $540 million as of June 30, 2022.

Modiv Inc. announced recent developments, including the affirmation of its BBB investment grade rating by Egan-Jones and significant office property sales as part of its portfolio strategy. On August 26, 2022, Modiv sold an office property in Las Vegas for $9.3 million, generating net proceeds of $9.0 million. Additionally, another office property sale is scheduled to close by September 16, 2022, which will further decrease office assets to 28% of its portfolio. Modiv aims to invest in industrial assets to enhance long-term earnings.

Modiv Inc. (NYSE:MDV) declared a quarterly cash dividend of $0.4609375 per share on its 7.375% Series A Preferred Stock for Q3 2022, payable on October 17, 2022. Additionally, the company announced monthly distributions of $0.09583 per share on its Class C common stock for October, November, and December 2022, with payments scheduled for November 23, December 23, and January 25, 2023, respectively. The current annualized rates are $1.84375 for Series A and $1.15 for Common Stock, reflecting Modiv's commitment to shareholder returns.

Modiv Inc. (NYSE:MDV) reported strong Q2 2022 results with total revenue rising 14% year-over-year to $10.4 million and Adjusted Funds from Operations (AFFO) increasing 18% to $3.6 million. The company has acquired approximately $162 million in properties, focusing on industrial manufacturing while reducing office asset exposure. Modiv declared monthly dividends of $0.09583 per share, yielding 7.4%. The portfolio now includes 48 properties across 16 states, with a weighted average lease term of 11.6 years and sustained growth in rental income.