Modiv Industrial Inc Stock Price, News & Analysis

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.

Modiv Inc. (NYSE:MDV) announced a share repurchase program of up to $20 million and declared a monthly cash dividend of $0.095833 for February and March 2022. The share buyback aims to enhance shareholder value and reflects confidence in the company's fundamentals. Additionally, Modiv has distributed over $40 million in dividends since inception, with plans for future increases. The repurchase program will be flexible based on market conditions, while the annualized dividend rate stands at $1.15 per share.

Modiv Inc. has priced an underwritten public offering of 40,000 shares of its Class C Common Stock at $25.00 per share, facilitating the stock's upcoming trading on the NYSE under the ticker 'MDV.' Expected trading begins on February 11, 2022, with closing anticipated on February 15, 2022. After the offering, the total shares of Class C Common Stock will number 7,561,211. The share conversion from Class S to Class C will also occur upon listing, and the Preferred Stock ticker will change from 'MDVA' to 'MDV.PRA.'