[SCHEDULE 13G] MODIV INDUSTRIAL, INC. SEC Filing

Rhea-AI Filing Summary

BlackRock, Inc. filed a Schedule 13G reporting beneficial ownership in Modiv Industrial Inc. (MDV) Class C Stock. BlackRock reports 521,743 shares beneficially owned, representing 5.1% of the class.

The filing lists sole voting power over 508,330 shares and sole dispositive power over 521,743 shares, with no shared voting or dispositive power. BlackRock certifies the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control.

Insights

Equity ownership and market structure analyst

BlackRock reports a passive 5.1% MDV stake.

BlackRock disclosed beneficial ownership of 521,743 Class C shares of Modiv Industrial (MDV), equal to 5.1% of the class. The filing shows sole voting power over 508,330 shares and sole dispositive power over 521,743 shares, with no shared powers.

This is a Schedule 13G, indicating a passive position. The certification states the holdings were acquired and are held in the ordinary course and not to change or influence control.

Actual market impact depends on future portfolio decisions by the reporting units. Subsequent ownership filings may update these figures.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

MODIV INDUSTRIAL INC

(Name of Issuer)

Class C Stock

(Title of Class of Securities)

60784B101

(CUSIP Number)

09/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 60784B101

1

Names of Reporting Persons

BlackRock, Inc.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 508,330.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 521,743.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

521,743.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.1 %

12

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13G

Item 1.
(a)	Name of issuer: MODIV INDUSTRIAL INC
(b)	Address of issuer's principal executive offices: 2195 SOUTH DOWNING STREET DENVER CO 80210
Item 2.
(a)	Name of person filing: BlackRock, Inc. In accordance with SEC Release No. 34-39538 (January 12, 1998), this Schedule 13G reflects the securities beneficially owned, or deemed to be beneficially owned, by certain business units (collectively, the "Reporting Business Units") of BlackRock, Inc. and its subsidiaries and affiliates. It does not include securities, if any, beneficially owned by other business units whose beneficial ownership of securities are disaggregated from that of the Reporting Business Units in accordance with such release.
(b)	Address or principal business office or, if none, residence: BlackRock, Inc., 50 Hudson Yards New York, NY 10001
(c)	Citizenship: See Item 4 of Cover Page
(d)	Title of class of securities: Class C Stock
(e)	CUSIP No.: 60784B101
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 521743
(b)	Percent of class: 5.1 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 508330
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 521743
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. Various persons have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of the common stock of MODIV INDUSTRIAL INC. No one person's interest in the common stock of MODIV INDUSTRIAL INC is more than five percent of the total outstanding common shares.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. See Exhibit 99
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

BlackRock, Inc.

Signature:	Spencer Fleming
Name/Title:	Managing Director
Date:	10/17/2025

Exhibit Information

Exhibit 24: Power of Attorney Exhibit 99: Item 7

FAQ

What stake did BlackRock report in Modiv Industrial (MDV)?

BlackRock reported beneficial ownership of 521,743 Class C shares, representing 5.1% of the class.

Does BlackRock have voting power over MDV shares?

Yes. The filing lists sole voting power over 508,330 shares and no shared voting power.

What dispositive power did BlackRock disclose for MDV?

BlackRock has sole dispositive power over 521,743 shares and no shared dispositive power.

Is BlackRock’s MDV position passive or active?

The Schedule 13G certification states the shares were acquired and are held in the ordinary course of business and not to influence control.

What class and CUSIP were reported for MDV?

The filing covers Class C Stock with CUSIP 60784B101.

What was the date of the event triggering the filing?

The date of event was 09/30/2025.