ModivNYSE: MDV

Welcome to Modiv Industrial Inc.'s First Quarter 2024 Earnings Conference Call, with company representatives including John Raney, Aaron Halfacre, and Ray Pacini. We also have participants from Janney Montgomery Scott, B. Riley Securities, and Alliance Global Partners joining the call. Thank you for joining us today.

Modiv Industrial: A 7.2% Dividend Yield From Made In The USA

Modiv Industrial, Inc. (NYSE:MDV ) Q4 2024 Earnings Conference Call March 4, 2024 8:30 AM ET Company Participants John Raney - Chief Operating Officer and General Counsel Aaron Halfacre - Chief Executive Officer, President and Director Ray Pacini - Chief Financial Officer Conference Call Participants Rob Stevenson - Janney Bryan Maher - B. Riley Securities Operator Good day and welcome to Modiv Industries Incorporated's Fourth Quarter 2023 Conference Call.

Modiv Industrial is a small-cap net lease REIT that focuses on manufacturing properties in the US. The company has rebranded itself as Modiv Industrial and positioned itself to benefit from the trend of reshoring. MDV's simplified and focused story makes it an appealing buyout prospect or joint venture partner.

Modiv Industrial, Inc. (MDV) saw its shares surge in the last session with trading volume being higher than average. The latest trend in FFO estimate revisions may not translate into further price increase in the near term.

Modiv Industrial has reported strong revenue growth and is strategically positioned to cater to the growing demand for industrial manufacturing spaces. The company offers an attractive dividend yield of 7.63% and has the potential for consistent dividend payments through reputed tenants and portfolio expansion. After comparing the forward P/FFO ratio of 8.57x with the sector median of 12.74x, I think the company is undervalued.

Modiv is an industrial REIT that wants to switch their focus purely to owning industrial manufacturing properties in the USA. To follow this strategy the company recently disposed of non-industrial assets and acquired more industrial manufacturing properties. My analysis leads me to a hold rating.

RENO, Nev.--(BUSINESS WIRE)--Modiv Inc. (“Modiv” or the “Company”) (NYSE:MDV), an internally managed real estate investment trust (“REIT”) that actively acquires, owns and manages a portfolio of single-tenant net-lease industrial manufacturing real estate properties, today announced that it will report second quarter 2023 financial results for the quarter ended June 30, 2023 before the market opens on Monday, August 14, 2023. Management will host a conference call the same day at 9:00 a.m. Paci.

Modiv Inc. CEO Aaron Halfacre plans to dispose of office assets to focus on industrial manufacturing facilities. MDV.PA preferred stock remains an attractive buy, with an 8%+ yield and roughly 10% upside to par value. Halfacre intends to redeem/retire MDV.PA when possible and simplify the company's balance sheet and capital structure.