other material
confidence high
sentiment positive
materiality 0.65
Modiv repurchases 7.5% of Series A Preferred at 6% discount; raises 2025 AFFO guidance
MODIV INDUSTRIAL, INC.
- Repurchased 150,000 Series A preferred shares at $23.50/share (6% discount to $25 par) for $3.525M.
- Transaction yields 7.85% annual yield and 13.45% yield to call; saves $276K annually.
- 2025 base-case AFFO estimate raised by $0.02 to $1.39 per fully diluted share.
- Board authorized new preferred repurchase program up to trailing 12-month ATM proceeds, expiring Dec 31, 2026.