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Modiv (MDV)
NYSE:MDV
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Earnings Data
Report Date
Mar 19, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-$0.07Last Year’s EPS
-$0.29Same Quarter Last Year
Strong Buy
Based on 3 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 06, 2024
|% Change Since: -5.44%
|Next Earnings Date:Mar 19, 2025
Earnings Call Sentiment|Neutral
The earnings call presented a balanced view of the company's current state. There are notable achievements such as stable AFFO, a dividend increase, and strong lease extensions, which reflect positively on the company's performance. However, these are counterbalanced by challenges including decreased rental income and increased interest expenses due to swap valuation losses. The ongoing vacancy of the Kalera property is another concern being addressed.Company Guidance
During the Modiv Industrial, Inc. Q3 2024 earnings call, guidance was provided on several key financial metrics. Rental income for the third quarter stood at $11.6 million, a decrease from $12.5 million in the prior-year period, primarily due to property dispositions. The company's adjusted funds from operations (AFFO) remained stable at $3.7 million compared to the same quarter last year, with an AFFO per share of $0.34, up from $0.33, due to a decrease in shares outstanding. Interest expense increased by $3.2 million year-over-year, largely due to unrealized net losses on swap valuations. Modiv's 43-property portfolio boasts a weighted average lease term of 13.8 years, with an annualized base rent totaling $40.2 million. The company reported a leverage ratio of 48% and all debt held at a fixed interest rate of 4.52% as of September 30, 2024. Looking ahead, the Board of Directors declared a cash dividend of $0.0975 per common share for the first quarter of 2025, representing a 1.7% increase from the current annual dividend rate.AFFO Stability
Third quarter adjusted funds from operations (AFFO) was $3.7 million, comparable to the prior-year quarter, indicating stable performance despite property dispositions.
Dividend Increase
The Board of Directors declared a cash dividend per common share of $0.0975 for the months of January, February, and March 2025, representing an annualized dividend rate of $1.17 per share, a 1.7% increase compared to the current rate.
Strong Lease Extensions
Secured an 8-year lease extension with WSP USA and a 5-year extension with Labcorp, contributing to a weighted average lease term of 13.8 years for the portfolio.
Debt Management
As of September 30, 2024, 100% of indebtedness held a fixed interest rate with a weighted average interest rate of 4.52%, and no debt maturities until January 2027.
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MDV Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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MDV Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 06, 2024 | $16.72 | $16.99 | +1.61% |
| Aug 06, 2024 | $14.42 | $14.61 | +1.32% |
| May 02, 2024 | $14.28 | $14.51 | +1.61% |
| Mar 04, 2024 | $14.57 | $14.42 | -1.03% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Modiv (MDV) report earnings?
Modiv (MDV) is schdueled to report earning on Mar 19, 2025, TBA Not Confirmed.
What is Modiv (MDV) earnings time?
Modiv (MDV) earnings time is at Mar 19, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is MDV EPS forecast?
MDV EPS forecast for the fiscal quarter 2024 (Q4) is -$0.07.
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