Modiv reports Q3 revenue $10.2M, AFFO $0.31/diluted; expands credit facility to $400M

MODIV INDUSTRIAL, INC.

2022-Q3 EPS reported -$0.91

Total Q3 revenue $10.2M (flat YoY; up 17% adj. for $1.5M termination fee in year-ago quarter).
AFFO $3.1M ($0.31/diluted), in line with FY2022 guidance of $1.26-$1.36/share; net income $3.0M vs $3.5M prior.
Acquired $28.7M industrial properties at 7.6% cap; sold two Las Vegas offices for $22.2M, gain $4.7M.
Exercised $150M accordion on credit facility Oct 21; total capacity now $400M ($150M revolver + $250M term loan).
Monthly dividend $0.09583/share ($1.15 annualized); yield 11% based on Nov 10 close of $10.64.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

MODIV INDUSTRIAL, INC. reported the third quarter ended September 30, 2022 results: revenue $10.2 million, net income $3.0 million, EPS $0.35 per diluted share.

Period: the third quarter ended September 30, 2022
Revenue: $10.2 million
Net income: $3.0 million
EPS: $0.35 per diluted share
Result: reported results

Exact text from the filing

Financial review for the third quarter 2022 Total Revenues Total revenues were consistent year-over-year at $10.2 million. The year-ago third-quarter revenue included a $1.5 million early termination fee related to a Texas property leased to Dana Incorporated, which was sold in July 2021. Excluding this early termination fee, third-quarter revenue increased $1.5 million, or 17% year-over-year, due primarily to rental income from 16 acquisitions year-to-date and partially offset by a decrease in rental income from the sale of six office properties and one flex property in 2022. Operating Results Net income attributable to common stockholders was $3.0 million, or $0.40 per basic share and $0.35 per diluted share, compared to net income of $3.5 million, or $0.47 per basic and $0.40 per diluted share in the prior-year period.

View on SEC.gov

Browse all earnings releases →

MODIV INDUSTRIAL, INC. filing history →

Source: SEC EDGAR

accession 0001140361-22-041151

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.