secwatch.observer — SEC 8-K summary
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Issuer:     MODIV INDUSTRIAL, INC. (MDV)
CIK:        0001645873
Form:       8-K
Filed at:   2023-05-15T23:59:59+00:00
Accession:  0001140361-23-024492
Event type: earnings
Sentiment:  positive
Materiality: 0.65
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Modiv Q1 revenue up 7.7% to $10.3M; AFFO rises to $0.30/share; $100.6M in acquisitions YTD
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- Q1 revenue $10.3M (+7.7% YoY); AFFO $0.30 per diluted share vs $0.29 in prior-year quarter.
- Acquired 10 industrial properties YTD through May 12 for $100.6M at blended initial cap rate 7.7%.
- Total debt $294.4M (weighted avg interest 4.4% with swaps); consolidated leverage 40% as of March 31.
- Industrial portfolio now 37 assets (67% of pro forma NOI); WALT 14.5 years; 2.4% avg annual rent increases.
- Term loan drawn additional $80M in April, bringing total to $250M; $150M revolver available.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1645873/000114036123024492/0001140361-23-024492-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1645873/000114036123024492/brhc20052879_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-23-024492

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