Modiv Industrial, Inc. (NYSE:MDV – Get Free Report) announced a monthly dividend on Friday, May 24th, Wall Street Journal reports. Stockholders of record on Monday, September 30th will be paid a dividend of 0.0958 per share on Friday, October 25th. This represents a $1.15 dividend on an annualized basis and a dividend yield of 7.39%. The ex-dividend date of this dividend is Monday, September 30th.
Modiv Industrial has a dividend payout ratio of 261.4% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Modiv Industrial to earn $1.36 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 84.6%.
Modiv Industrial Stock Performance
Shares of MDV opened at $15.57 on Friday. Modiv Industrial has a twelve month low of $11.79 and a twelve month high of $19.12. The firm’s fifty day simple moving average is $15.58 and its 200-day simple moving average is $15.21.
Insider Buying and Selling
In other Modiv Industrial news, major shareholder First City Investment Group, L sold 3,654 shares of Modiv Industrial stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $17.02, for a total value of $62,191.08. Following the transaction, the insider now directly owns 651,972 shares in the company, valued at $11,096,563.44. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In the last ninety days, insiders have purchased 1,045 shares of company stock worth $15,597 and have sold 5,953 shares worth $101,438. 4.60% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
Separately, Alliance Global Partners initiated coverage on shares of Modiv Industrial in a research note on Monday, April 29th. They set a “buy” rating and a $18.00 price target on the stock.
View Our Latest Research Report on Modiv Industrial
Modiv Industrial Company Profile
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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