Modiv Industrial, Inc.
14.54-0.10 (-0.68%)
Oct 29, 4:00:02 PM EDT · NYSE · MDV · USD
Key Stats
Market Cap
147.70MP/E (TTM)
-Basic EPS (TTM)
-0.44Dividend Yield
0.08%Recent Filings
8-K
Preferred dividend declared
Modiv Industrial declared a quarterly dividend of $0.4609375 per share on its 7.375% Series A Preferred Stock for Q3 2025, totaling $795,117, payable October 15 to holders of record September 30. Authorized by the board on August 5, this payout underscores steady preferred obligations amid the REIT's focus on industrial properties. Future dividends hinge on financial health. No surprises here.
8-K
Q2 AFFO surges 22% despite impairment
Modiv Industrial reported Q2 2025 revenue of $11.8 million but a net loss of $2.8 million to common stockholders, driven by a $4 million impairment on its Saint Paul, Minnesota property amid tough market conditions. Yet AFFO climbed 22% year-over-year to $4.8 million, or $0.38 per diluted share, topping estimates through steady operations. A five-year renewal with Northrop Grumman locks in 2% annual escalations. Recycling $150 million in assets could boost AFFO by 100 basis points within a year.
10-Q
Q2 FY2025 results
Modiv Industrial's Q2 revenue edged up 3.7% y/y to $11.8M, driven by contributions from a March acquisition, yet operating income dipped to $1.2M from $5.1M amid a $4.0M impairment on its Saint Paul property. Net loss hit $2.6M, or $(0.32) diluted EPS, versus $1.3M income last year, with the gap largely due to that impairment while interest expense held steady at $4.0M after swap adjustments. Cash from operations stayed robust at $7.0M YTD, funding a $6.5M preferred repurchase; debt totals $280.6M with full revolver availability and $5.8M cash on hand. Acquired a Jacksonville industrial site in March for $6.2M (cash/OP units), recognizing $1.0M land and $4.8M buildings. Tenant concentration risks linger, with Lindsay properties at 14% of rent.
8-K
Annual meeting elects directors, rejects split
Modiv Industrial's stockholders elected all five director nominees—Aaron S. Halfacre, Christopher Gingras, Thomas H. Nolan Jr., Kimberly Smith, and Connie Tirondola—at the July 23, 2025 annual meeting, securing board continuity. They ratified Grant Thornton as auditors for 2025 and backed executive pay advisory, but rejected the reverse stock split proposal with only 4.4 million votes for versus 632,000 against. The split's defeat preserves current share structure, potentially signaling investor caution on liquidity tweaks.
8-K
Modiv declares steady dividends
Modiv Industrial declared a quarterly dividend of $0.4609375 per share on its Series A Preferred Stock for Q2 2025, payable July 15 to holders of record June 30, and monthly distributions of $0.0975 per share on Class C Common Stock for July through September, payable August 15, September 15, and October 15 respectively. This maintains the $1.17 annualized common rate since January 31, 2025, yielding 8.07% at the June 17 closing price of $14.49. Yet future payouts hinge on board decisions amid financial conditions.
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