Modiv Inc. (NYSE:MDV) to Issue Monthly Dividend of $0.10

Modiv Inc. (NYSE:MDV – Get Rating) declared a monthly dividend on Tuesday, March 22nd, Wall Street Journal reports. Stockholders of record on Friday, April 29th will be paid a dividend of 0.0958 per share on Wednesday, May 25th. This represents a $1.15 dividend on an annualized basis and a dividend yield of 6.13%. The ex-dividend date of this dividend is Thursday, April 28th.

MDV stock opened at $18.75 on Tuesday. The stock has a 50 day moving average of $18.18. Modiv has a 52 week low of $15.01 and a 52 week high of $89.99.

In other Modiv news, CEO Aaron Scott Halfacre acquired 8,048 shares of the firm’s stock in a transaction on Friday, March 25th. The stock was acquired at an average cost of $17.65 per share, for a total transaction of $142,047.20. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders purchased a total of 9,387 shares of company stock valued at $167,193 over the last quarter.

Separately, B. Riley assumed coverage on shares of Modiv in a research note on Wednesday, March 30th. They issued a “buy” rating and a $24.00 target price for the company.

Modiv Company Profile (Get Rating)

Modiv Inc, (the Company) was incorporated on May 14, 2015 as a Maryland corporation. The Company was formed to primarily invest, directly or indirectly, in real estate owning entities which own single-tenant income-producing properties located in the United States, which are leased to creditworthy tenants under long-term net leases.

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