Modiv Industrial, Inc. (NYSE:MDV – Get Free Report) declared a dividend on Monday, March 18th, NASDAQ reports. Stockholders of record on Tuesday, April 30th will be given a dividend of 0.0958 per share on Tuesday, May 28th. The ex-dividend date is Monday, April 29th.
Modiv Industrial has a dividend payout ratio of 261.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Modiv Industrial to earn $1.52 per share next year, which means the company should continue to be able to cover its $1.15 annual dividend with an expected future payout ratio of 75.7%.
Modiv Industrial Price Performance
Shares of NYSE:MDV remained flat at $15.00 on Friday. The stock had a trading volume of 37,494 shares, compared to its average volume of 23,479. Modiv Industrial has a 12 month low of $10.44 and a 12 month high of $19.12. The firm has a market capitalization of $137.60 million, a P/E ratio of -10.56, a price-to-earnings-growth ratio of 2.18 and a beta of -0.31. The company’s 50 day moving average price is $15.41 and its 200-day moving average price is $15.18.
Insider Activity
In other news, major shareholder First City Investment Group, L sold 3,654 shares of the company’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $17.02, for a total value of $62,191.08. Following the completion of the sale, the insider now owns 651,972 shares in the company, valued at $11,096,563.44. The sale was disclosed in a legal filing with the SEC, which is available at this link. Over the last 90 days, insiders bought 1,262 shares of company stock worth $18,620 and sold 5,953 shares worth $101,438. Insiders own 4.60% of the company’s stock.
About Modiv Industrial
Modiv Industrial, Inc is an internally managed REIT that is focused on single-tenant net-lease industrial manufacturing real estate. The Company actively acquires critical industrial manufacturing properties with long-term leases to tenants that fuel the national economy and strengthen the nation's supply chains.
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