Modiv Industrial Inc - MDV STOCK NEWS

Modiv Inc. (NYSE:MDV) announced that Janney Montgomery Scott LLC has initiated coverage of the Company with a ‘Buy’ recommendation and a price target of $20 per share. This brings the total number of independent analysts covering Modiv to four, with an average consensus price target of $20.25. CEO Aaron Halfacre expressed appreciation for the recognition and highlighted the Company’s focus on enhancing its real estate portfolio by transitioning to industrial manufacturing assets. Modiv has a diversified portfolio valued at approximately $540 million as of June 30, 2022.

Modiv Inc. announced recent developments, including the affirmation of its BBB investment grade rating by Egan-Jones and significant office property sales as part of its portfolio strategy. On August 26, 2022, Modiv sold an office property in Las Vegas for $9.3 million, generating net proceeds of $9.0 million. Additionally, another office property sale is scheduled to close by September 16, 2022, which will further decrease office assets to 28% of its portfolio. Modiv aims to invest in industrial assets to enhance long-term earnings.

Modiv Inc. (NYSE:MDV) declared a quarterly cash dividend of $0.4609375 per share on its 7.375% Series A Preferred Stock for Q3 2022, payable on October 17, 2022. Additionally, the company announced monthly distributions of $0.09583 per share on its Class C common stock for October, November, and December 2022, with payments scheduled for November 23, December 23, and January 25, 2023, respectively. The current annualized rates are $1.84375 for Series A and $1.15 for Common Stock, reflecting Modiv's commitment to shareholder returns.

Modiv Inc. (NYSE:MDV) reported strong Q2 2022 results with total revenue rising 14% year-over-year to $10.4 million and Adjusted Funds from Operations (AFFO) increasing 18% to $3.6 million. The company has acquired approximately $162 million in properties, focusing on industrial manufacturing while reducing office asset exposure. Modiv declared monthly dividends of $0.09583 per share, yielding 7.4%. The portfolio now includes 48 properties across 16 states, with a weighted average lease term of 11.6 years and sustained growth in rental income.

Modiv Inc (NYSE:MDV) plans to report its second quarter 2022 financial results on August 11, 2022, before the market opens. A conference call to discuss these results will take place at 8:00 a.m. Pacific Time. The company specializes in acquiring and managing a diversified portfolio of single-tenant net-lease real estate, primarily in industrial and retail sectors, with an estimated fair value of $550 million. Investors can access the conference call and webcast via the company’s investor relations page.

Modiv Inc. (NYSE:MDV) has declared a quarterly cash dividend of $0.4609375 per share on its 7.375% Series A Preferred Stock, payable on July 15, 2022, for stockholders of record as of June 30, 2022. Additionally, the company announced a monthly cash distribution of $0.09583 per share on its Class C common stock for July, August, and September 2022. The equity analyst coverage by Colliers Securities began on June 6, 2022, with a 'Buy' recommendation and $22 price target.

Modiv Inc. (NYSE:MDV), a real estate investment trust, announces participation in key investor conferences. CEO Aaron Halfacre and CFO Ray Pacini will present at Nareit’s REITWeek from June 7-9, 2022, and at the Sidoti Small-Cap Virtual Investor Conference on June 15-16, 2022. Modiv's investor relations activities also include attendance at the B. Riley Securities Institutional Investor Conference on May 25-26, 2022. As of April 30, 2022, Modiv's real estate portfolio is valued at approximately $550 million, consisting of 2.9 million square feet of leasable area.

Modiv Inc. (NYSE:MDV) reported a 7% year-over-year revenue increase to $9.6 million for Q1 2022, driven by rental income from recent acquisitions. AFFO rose 33% to $3.0 million, or $0.39 per share. The company acquired over $133 million in properties at an average cap rate exceeding 7.9%. Despite a net loss of $11.1 million due to a goodwill impairment of $17.3 million, Modiv declared monthly dividends of $0.09583 per share. The 2022 AFFO per share guidance is set between $1.26 and $1.36, reflecting expectations for strategic acquisitions and dispositions.

Modiv Inc. (NYSE:MDV) announced its first quarter 2022 financial results will be reported before the market opens on May 16, 2022. A conference call is scheduled for the same day at 8:00 a.m. PT to discuss the results. Modiv, an internally managed REIT, focuses on acquiring, owning, and managing a diversified portfolio of single-tenant net-lease properties, primarily in industrial and retail sectors. As of March 31, 2022, Modiv's real estate portfolio had an estimated fair value of $500 million, covering 2.3 million square feet.