MDV - Modiv Industrial: A 7.2% Dividend Yield From Made In The USA
2024-03-17 01:20:01 ET
Summary
- Modiv Industrial is paying out a 7.2% dividend yield that's 140% covered by fourth-quarter AFFO.
- The REIT is solely focused on owning single-tenant net-lease industrial manufacturing properties in the US.
- No debt maturities until 2027 and pending Fed rate cuts will set MDV up for 2024 outperformance.
Modiv Industrial ( MDV ) is probably one of the most unique equity REITs I've encountered. The internally managed small-cap REIT is focused on acquiring single-tenant net-lease industrial manufacturing properties in the US, with a portfolio of 44 properties at the end of its most recent fiscal 2023 fourth quarter. There has since been a disposition of two non-core assets held for sale, with MDV now finished with its more than two-year long strategic shift away from a portfolio initially heavy on retail and office properties. There has been $121 million worth of dispositions since the REIT listed on the NYSE in February 2022....
Modiv Industrial: A 7.2% Dividend Yield From Made In The USA