Modiv Industrial, Inc. (NYSE:MDV – Get Free Report) announced a monthly dividend on Wednesday, June 10th. Shareholders of record on Monday, August 3rd will be given a dividend of 0.10 per share on Monday, August 10th. This represents a c) dividend on an annualized basis and a yield of 6.5%. The ex-dividend date of this dividend is Monday, August 3rd.
Modiv Industrial has a dividend payout ratio of 857.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Modiv Industrial to earn $1.52 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 78.9%.
Modiv Industrial Trading Down 0.4%
MDV traded down $0.08 during trading on Thursday, reaching $18.35. 26,318 shares of the company’s stock were exchanged, compared to its average volume of 63,897. Modiv Industrial has a one year low of $13.80 and a one year high of $18.83. The stock has a market capitalization of $189.49 million, a PE ratio of -44.77 and a beta of -0.09. The firm has a fifty day moving average price of $16.92 and a two-hundred day moving average price of $15.54.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on the stock. Lucid Cap Mkts lowered shares of Modiv Industrial from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Zacks Research lowered shares of Modiv Industrial from a “hold” rating to a “strong sell” rating in a report on Monday, May 25th. Cantor Fitzgerald lowered shares of Modiv Industrial from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Wall Street Zen lowered shares of Modiv Industrial from a “hold” rating to a “sell” rating in a report on Sunday, May 10th. Finally, Freedom Capital lowered shares of Modiv Industrial from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Five investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Modiv Industrial currently has an average rating of “Reduce” and a consensus target price of $18.50.
View Our Latest Stock Report on MDV
Modiv Industrial Company Profile
Modiv Industrial, Inc (NYSE: MDV) is a publicly traded real estate investment trust that specializes in the acquisition, ownership and management of single-tenant industrial properties. The company’s portfolio is anchored by net-lease agreements with corporate and public sector tenants, providing stable, long-term cash flows. Modiv Industrial focuses on light manufacturing facilities, warehouse and distribution centers, and similar industrial real estate assets that serve as critical links in supply chains.
Modiv Industrial pursues a geographically diversified strategy, targeting properties in key U.S.
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