---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-24-035791"
form_type: "8-K"
ticker: "MDV"
cik: "0001645873"
company_name: "MODIV INDUSTRIAL, INC."
filed_at: "2024-08-06T23:59:59+00:00"
generated_at: "2026-05-31T12:18:46.163263+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Modiv Industrial Q2 AFFO up 17.3% to $3.9M; repurchased 780K shares at $14.80; enters LOI for JV stake

## Summary
- Rental income $11.3M, down $493K due to prior portfolio sale, offset by $834K decrease in property expenses.
- AFFO $3.9M, +$575K YoY; pro forma AFFO per diluted share $0.37 assuming early-quarter buyback.
- Acquired Tampa optical systems property for $5.2M; 20-year lease with 2.85% escalators; 8.0% initial cap rate.
- Repurchased 656,191 OP units and 123,809 MDV shares at $14.80 for $11.5M; accretive $8M gain vs $25 issue price.
- Signed non-binding LOI for non-controlling JV stake in industrial manufacturing portfolio, stock issued at premium.

## SEC filing metadata
- accession: 0001140361-24-035791
- form_type: 8-K
- ticker: MDV
- cik: 0001645873
- company_name: MODIV INDUSTRIAL, INC.
- filed_at: 2024-08-06T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1645873/000114036124035791/0001140361-24-035791-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1645873/000114036124035791/ef20033554_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-24-035791
- JSON: https://secwatch.observer/filing/0001140361-24-035791.json
- Plain text: https://secwatch.observer/filing/0001140361-24-035791.txt

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