Modiv Industrial Inc - MDV STOCK NEWS

Modiv Industrial (NYSE:MDV) has announced significant financial updates, including the retirement of 150,000 Series A Preferred shares at $23.50 per share, representing 7.5% of their preferred stack. The $3.525 million transaction was executed at a 6% discount to par value, yielding 7.85% annually and 13.45% to call.

The company has increased its base case, static 2025 Adjusted Funds From Operations (AFFO) estimate to $1.39 per fully diluted share. This strategic move will result in $276,000 in additional annual savings, complementing the previously announced $700,000 in interest savings and $300,000 in revolver savings.

The transaction demonstrates Modiv's commitment to reducing leverage and strengthening cash flow for common equity investors. The company deployed capital raised from Q4 2024 ATM sales at 7.24% dividend yield into this higher-yielding investment at 7.85%.

Modiv Industrial (NYSE:MDV) reported its Q4 and full year 2024 results, achieving full-year net income of $2.3 million ($0.25 per diluted share) and Q4 net income of $0.6 million ($0.07 per diluted share). The company's full-year AFFO reached $14.99 million ($1.34 per diluted share), exceeding street expectations by $0.08 per share, while Q4 AFFO was $4.1 million ($0.37 per diluted share), beating consensus by 22%.

During Q4 2024, the company sold and issued 287,840 shares at an average price of $16.16. Looking ahead to 2025, Modiv secured over $1.4 million in cash expense savings through G&A and financing efficiencies. The company projects 2025 AFFO of $1.37 per diluted share, 19% higher than street consensus of $1.15.

Recent transactions include a $2 million asset sale in Endicott, NY, and an upcoming $6 million UPREIT acquisition in Jacksonville, FL MSA.

Modiv Industrial (NYSE:MDV), the exclusive public REIT focused on industrial manufacturing real estate properties, has scheduled its fourth quarter and full-year 2024 financial results announcement for March 4, 2025, before market opening. The company will host a conference call at 11:00 a.m. Eastern Time on the same day to discuss the results.

Investors can access the live conference call via telephone at 1-877-407-0789 or 1-201-689-8562, or join the webcast through the company's website at www.modiv.com.

Modiv Industrial (NYSE:MDV), a REIT focused exclusively on industrial manufacturing real estate properties, has disclosed the tax treatment of its 2024 dividends. For common stock, total distributions were $2.31480 per share, comprising 16.13% ($0.37338) as ordinary income and 83.87% ($1.94142) as non-taxable return of capital. This includes a distribution of Generation Income Properties common stock worth $1.1648 per share on January 31, 2024.

For Series A Preferred Stock, total dividends amounted to $1.84375 per share, classified entirely (100%) as ordinary income with no return of capital component.

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.