Modiv Industrial Q3 revenue $12.5M (+21% YoY), AFFO $3.7M (+19% YoY), plans GIPR in-kind dividend

MODIV INDUSTRIAL, INC.

2023-Q3 EPS reported -$1.07 revenue$34,846,061

Revenue $12.5M (up 21% YoY from $10.3M); AFFO $3.7M (up 19% YoY from $3.1M).
Reduced debt by $10M; net debt/adjusted EBITDA down 14% vs prior quarter.
Portfolio: 44 properties, weighted avg lease term 14.0 years, avg annual rent increases 2.48%.
CEO provides strategic outlook but no formal 2024 guidance; near-term acquisition pause.
Potential Jan 2024 in-kind distribution of up to 3.0M GIPR shares; combined yield >16%.

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 0.85

MODIV INDUSTRIAL, INC. reported third quarter ended September 30, 2023 results: revenue $12.5 million.

Period: third quarter ended September 30, 2023
Revenue: $12.5 million
Result: reported results

Exact text from the filing

real estate, today announced operating results for the third quarter ended September 30, 2023. Key Financial Highlights: ◾ 21% year-over-year increase in revenue generating $12.5 million compared with $10.3 million in the year-ago quarter. ◾ 19% year-over-year increase in AFFO netting $3.7 million compared with $3.1 million in the year-ago quarter. ◾ $10 million

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Source: SEC EDGAR

accession 0001140361-23-052717

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