---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-22-041151"
form_type: "8-K"
ticker: "MDV"
cik: "0001645873"
company_name: "MODIV INDUSTRIAL, INC."
filed_at: "2022-11-14T23:59:59+00:00"
generated_at: "2026-06-21T20:28:07.017478+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001140361-22-041151
- form_type: 8-K
- ticker: MDV
- cik: 0001645873
- company_name: MODIV INDUSTRIAL, INC.
- filed_at: 2022-11-14T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1645873/000114036122041151/0001140361-22-041151-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1645873/000114036122041151/ny20005857x1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-22-041151
- JSON: https://secwatch.observer/filing/0001140361-22-041151.json
- Plain text: https://secwatch.observer/filing/0001140361-22-041151.txt

## Key facts
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1645873/000114036122041151/0001140361-22-041151-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.