Modiv Industrial, Inc. (MDV) reported that its fourth quarter FFO to common stockholders and class C OP Unit holders declined to $2.4 million from $5.9 million, last year. FFO per share was $0.21 compared to $0.57. Excluding Performance Units Expense, FFO per share was $0.29 compared to $0.57. Fourth quarter AFFO was $4.5 million, or $0.40 per share, compared to $7.0 million or $0.68 per share, previous year.
Net loss attributable to common stockholders was $2.2 million or $0.29 per share compared to a loss of $159 thousand or $0.02 per share, last year. Fourth quarter revenue was $12.3 million, up 23%, excluding the 2022 lease termination fee.
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