Welcome to our dedicated page for Modiv Industrial news (Ticker: MDV), a resource for investors and traders seeking the latest updates and insights on Modiv Industrial stock.
Modiv Industrial, Inc. (symbol: MDV) is a leading player in the direct-to-consumer commercial real estate product industry, offering individual investors opportunities to invest in real estate and related ventures. The company's core business revolves around single-tenant income-producing properties. Modiv Industrial focuses on owning, managing, operating, leasing, acquiring, investing in, and disposing of commercial real estate assets, particularly those used for industrial manufacturing.
The company’s portfolio comprises various properties, each chosen for their potential to generate steady income and foster long-term growth. All consolidated revenues for Modiv Industrial stem from these consolidated real estate properties. Their strategic approach ensures that investors can enjoy a stream of income alongside the appreciation of their investments over time.
In recent developments, Modiv Industrial has successfully navigated the dynamic commercial real estate market by diversifying their asset base and optimizing property management. This includes not just industrial manufacturing sites but also a few non-core assets, which provide additional financial stability and growth avenues.
Modiv Industrial continues to explore new opportunities and partnerships to enhance its portfolio and deliver value to its investors. The company's emphasis on single-tenant properties allows for focused management and predictable revenue streams, a cornerstone of their investment strategy.
With a firm commitment to transparency and investor satisfaction, Modiv Industrial regularly updates stakeholders on financial performance, acquisitions, and other significant activities, ensuring that investors have the information they need to make informed decisions.
Modiv Industrial (NYSE:MDV) has declared multiple dividends: a quarterly cash dividend of $0.4609375 per share on Series A Preferred Stock (annualized rate of $1.84375), and monthly distributions of $0.0975 per share on Common Stock for January, February, and March 2025. The common stock distribution represents a 1.7% increase to an annualized rate of $1.17, yielding 6.96% based on the $16.82 closing price. Additionally, the company increased the discount rate for its Distribution Reinvestment Plan from 3% to 5%, effective December 7, 2024.
Modiv Industrial (NYSE:MDV) reported its Q3 2024 results, achieving AFFO of $0.34 per share, exceeding both last year's figure and consensus by $0.01. The company secured two significant lease extensions: an eight-year extension with WSP in San Diego until 2034, and a five-year extension with Labcorp in San Carlos until 2030. The company raised $3.9 million through ATM offerings at an average price of $16.54. Additionally, Modiv is working on a potential UPREIT transaction in Jacksonville, FL, which could result in issuing approximately $6 million in OP units at $17.00 per share. The Board approved an increase in the annual dividend rate to $1.17, paid monthly.
Modiv Industrial (NYSE:MDV) announced it will report Q3 2024 financial results on November 6, 2024, before market open, followed by a conference call at 11:00 a.m. ET. CEO Aaron Halfacre provided a detailed update on a potential joint venture deal that the company ultimately decided not to pursue. The deal involved over 20 manufacturing properties in the eastern U.S., with a nine-figure purchase price at an accretive cap rate. Modiv would have acquired slightly less than half the equity initially, with plans to acquire the remainder later.
Halfacre explained that the decision to pass on the deal was due to misaligned time horizons and potential risks associated with rushing asset sales. He emphasized the company's focus on maximizing shareholder value while managing risk. Halfacre also mentioned another potential deal, stating they won't provide further updates until something is signed. He concluded by highlighting Modiv's portfolio of high-quality industrial manufacturing properties producing essential American-made goods.
Modiv Industrial (NYSE:MDV), the only public REIT focused exclusively on industrial manufacturing real estate, has declared dividends for both preferred and common shareholders. For Series A Preferred Stock, a quarterly cash dividend of $0.4609375 per share will be paid on October 15, 2024, to stockholders of record as of September 30, 2024. This represents an annualized dividend rate of $1.84375 per share.
For Common Stock, monthly distributions of $0.09583 per share have been declared for October, November, and December 2024. These will be paid on or about November 25, December 24, and January 27, 2025, respectively. The current monthly distribution equates to an annualized rate of $1.15 per share, yielding 6.9% based on the closing price of $16.64 on August 30, 2024.
Modiv Industrial (NYSE:MDV) announced Q2 2024 results with rental income of $11.3 million, a slight decrease due to portfolio changes. However, AFFO increased by 17.3% year-over-year to $3.9 million. The company completed a $5.2 million acquisition of an industrial manufacturing property in Tampa, Florida, with a 20-year lease at an initial 8.0% cap rate. Modiv also repurchased 656,191 Class C units and 123,809 common shares for $11.54 million, an accretive transaction increasing AFFO per diluted share to $0.37 on a pro forma basis. The company maintains a fully covered dividend yield of 7.79%. Modiv is in discussions for a potential joint venture with a private equity firm to acquire a stake in their industrial manufacturing portfolio.
Modiv Industrial, Inc. (NYSE:MDV), the only public REIT focused exclusively on industrial manufacturing real estate properties, has announced it will release its second quarter 2024 financial results on August 6, 2024, before the market opens. The company will host a conference call the same day at 7:30 a.m. Pacific Time (10:30 a.m. Eastern Time) to discuss the results.
Investors can access the live conference call by dialing 1-877-407-0789 or 1-201-689-8562. A webcast of the call will also be available through the company's website at www.modiv.com or via a direct link provided in the announcement.
Modiv Industrial, the only public REIT focused exclusively on industrial manufacturing real estate properties, announced quarterly dividends for Series A Preferred Stock and monthly distributions for Common Stock. Preferred shareholders will receive a quarterly cash dividend of $0.4609375 per share, equating to an annualized rate of $1.84375 per share, payable on July 15, 2024. Common shareholders will receive a monthly distribution of $0.09583 per share for July, August, and September 2024, amounting to an annualized distribution rate of $1.15 per share and a 7.3% dividend yield based on the May 21, 2024, closing price of $15.66.
Modiv Industrial reported its first-quarter 2024 results, with highlights including NAV per share and a discussion of its financial performance.
Modiv Industrial, Inc. (NYSE:MDV) will report its first quarter 2024 financial results on May 2. The company focuses on acquiring industrial manufacturing real estate properties. A conference call will be held to discuss the results.
FAQ
What is the current stock price of Modiv Industrial (MDV)?
What is the market cap of Modiv Industrial (MDV)?
What does Modiv Industrial, Inc. specialize in?
What are the core activities of Modiv Industrial, Inc.?
Where does Modiv Industrial, Inc. derive its revenue from?
What recent achievements has Modiv Industrial seen?
What kind of properties does Modiv Industrial invest in?
How does Modiv Industrial ensure investor satisfaction?
What is the investment strategy of Modiv Industrial?
Does Modiv Industrial engage in partnerships?
Who can invest in Modiv Industrial's offerings?
Are there any non-core assets in Modiv Industrial's portfolio?
