Modiv reports Q1 AFFO 29c, consensus 33c

Reports Q1 revenue $11.97M, consensus $12.15M. “Of all the quarterly earnings releases, first quarter is always the most quirky in terms of timing given that it comes so soon after the release of fourth quarter results. In our case, we were speaking about 2023 results less than 60 days ago. During that short time, the broader market has consistently delivered the price volatility, economic uncertainty and geo-political risk that have plagued us for what feels like dog years now. Here at Modiv, we too have been consistent with what we do – patient, nose-to-the-grindstone execution. Though we have no seismic shifts to announce today, we have been steadfast in our focused pursuit of a tectonic transformation”.