The following is a summary of the Modiv Industrial, Inc. (MDV) Q4 2024 Earnings Call Transcript:

Financial Performance:

• Modiv Industrial reported a Q4 2024 revenue of $12.3 million, a 23% increase compared to the prior year period excluding a lease termination fee from 2022.

• Adjusted funds from operations (AFFO) was $4.5 million, up 41% from a year ago.

• Annual revenue for 2024 was reported at $46.9 million, up 17% from the previous year. The AFFO for 2024 was $14.7 million, an increase of 14% from prior year.

• Their debt as of December 31, 2023, was $280 million with a weighted average interest rate of 4.52%.

• Dividends declared per common share for Q1 2024 were approximately $0.95, representing an annualized rate of $1.15 per share or an estimated yield of 7.5%.

Business Progress:

• Modiv Industrial has announced organizational changes with the COO and General Counsel being made a named executive officer.

• The company is considering potential construction of town homes and looking at strategic partnerships.

• They have been testing the ATM offering, in order to grow liquidity and offer more controlled equity volumes.

• They have also acquired 12 industrial manufacturing properties in 2023 offset by disposition of 14 non-core properties, resulting in a portfolio of 42 properties with the industrial segment contributing 76% of the income.

• Due to lower headcount, reductions in insurance and technology costs, the company has managed to reduce G&A expenses.

More details: Modiv Industrial IR

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