Modiv Industrial Inc Stock Price, News & Analysis

Modiv Inc. (NYSE:MDV) has declared a quarterly cash dividend of $0.4609375 per share on its 7.375% Series A Preferred Stock, payable on July 15, 2022, for stockholders of record as of June 30, 2022. Additionally, the company announced a monthly cash distribution of $0.09583 per share on its Class C common stock for July, August, and September 2022. The equity analyst coverage by Colliers Securities began on June 6, 2022, with a 'Buy' recommendation and $22 price target.

Modiv Inc. (NYSE:MDV), a real estate investment trust, announces participation in key investor conferences. CEO Aaron Halfacre and CFO Ray Pacini will present at Nareit’s REITWeek from June 7-9, 2022, and at the Sidoti Small-Cap Virtual Investor Conference on June 15-16, 2022. Modiv's investor relations activities also include attendance at the B. Riley Securities Institutional Investor Conference on May 25-26, 2022. As of April 30, 2022, Modiv's real estate portfolio is valued at approximately $550 million, consisting of 2.9 million square feet of leasable area.

Modiv Inc. (NYSE:MDV) reported a 7% year-over-year revenue increase to $9.6 million for Q1 2022, driven by rental income from recent acquisitions. AFFO rose 33% to $3.0 million, or $0.39 per share. The company acquired over $133 million in properties at an average cap rate exceeding 7.9%. Despite a net loss of $11.1 million due to a goodwill impairment of $17.3 million, Modiv declared monthly dividends of $0.09583 per share. The 2022 AFFO per share guidance is set between $1.26 and $1.36, reflecting expectations for strategic acquisitions and dispositions.

Modiv Inc. (NYSE:MDV) announced its first quarter 2022 financial results will be reported before the market opens on May 16, 2022. A conference call is scheduled for the same day at 8:00 a.m. PT to discuss the results. Modiv, an internally managed REIT, focuses on acquiring, owning, and managing a diversified portfolio of single-tenant net-lease properties, primarily in industrial and retail sectors. As of March 31, 2022, Modiv's real estate portfolio had an estimated fair value of $500 million, covering 2.3 million square feet.

Modiv Inc. (NYSE:MDV) has completed the acquisition of the Lindsay Precast, LLC portfolio in a sale leaseback transaction valued at $56.1 million. This acquisition includes eight properties across five states, and it features a 25-year lease with annual rent increases of 2%. The transaction presents an initial cap rate of 6.65% and an attractive weighted average cap rate of 8.52%. This deal reflects Modiv's strategy of investing in essential industrial properties, contributing to over $133 million in acquisitions in the first four months of 2022.

Modiv Inc. (NYSE:MDV) announced coverage initiation by two analysts, B. Riley Securities and EF Hutton, both recommending 'Buy' with price targets of $24 and $23, respectively. Colliers Securities also shared a positive industry note highlighting Modiv's attractive trading price relative to an appraised net asset value exceeding $28 per share. CEO Aaron Halfacre expressed gratitude for the analysts' recognition and emphasized the company’s operational strength, while noting that no immediate equity issuance plans exist despite maintaining a registration statement for future opportunities.

Modiv Inc. (NYSE:MDV) reported its fourth quarter and full year results for 2021, with total revenue of $7.9 million for Q4 and $36.2 million for the year, reflecting losses due to property dispositions. The net loss for Q4 was $3.1 million, compared to a gain in Q4 2020. However, adjusted funds from operations (AFFO) increased by 41% to $2.4 million. The company has initiated a growth strategy with over $90 million in acquisitions. They also launched a $250 million credit facility and authorized $20 million for share repurchases. Monthly dividends remain at $0.09583 per share.

Modiv Inc. (NYSE:MDV) has declared a quarterly cash dividend of $0.4609375 per share for its 7.375% Series A Preferred Stock, payable on April 15, 2022, to shareholders of record by March 31, 2022.

Additionally, the company announced a monthly cash dividend of $0.09583 per share for its Class C Common Stock for the months of April, May, and June 2022, with payments scheduled for May 25, June 27, and July 25 respectively. The annualized rates stand at $1.84375 and $1.15 for Preferred and Common Stocks, respectively.

Modiv Inc. (NYSE:MDV) announces it will release its fourth quarter and 2021 year-end financial results on March 23, 2022, after market close. A conference call to discuss these results will occur on March 24, 2022, at 8:00 a.m. PT. Modiv, a real estate investment trust, focuses on acquiring and managing a diverse portfolio of single-tenant net-lease properties, including industrial and retail. As of December 31, 2021, the company's estimated real estate portfolio value stood at $500 million, encompassing 2.4 million square feet of leasable area.