Modiv Industrial Q3 AFFO $0.34/share, up YoY; raises annual dividend to $1.17

MODIV INDUSTRIAL, INC.

2024-Q3 EPS reported $0.19 revenue$35,031,437

Q3 AFFO $0.34/share, up $0.01 YoY and $0.01 above consensus.
Lease extensions: San Diego property to Feb 2034 (WSP), San Carlos to Oct 2030 (Labcorp).
Raised $3.9M via ATM at avg $16.54; pursuing UPREIT for Jacksonville FL with ~$6M OP units at $17.00.
Board approved dividend increase to $1.17 annually (monthly payments), up from prior rate.
Combined share/unit issuance ~600,000 at avg $16.80, generating $1.2M profit vs Q2 buyback at $14.80.

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