Modiv Industrial Inc. Class C (MDV)

Modiv Industrial's stock has been impacted by several events over the past six months. The company reported stable Q3 2025 performance with 2.5% average annual rent growth, focusing on asset recycling and a conservative capital strategy. Q2 2025 revenue was $11.8 million with a net loss of $(2.8) million, but AFFO was $4.8 million, a 22% year-over-year increase. The company announced an increase in its monthly cash distribution to the company's Class C common stock. Short interest declined by 19.3% as of January 15th. Weiss Ratings upgraded Modiv Industrial from a "sell" to a "hold" rating, and Cantor Fitzgerald initiated coverage with an "overweight" rating and an $18.00 price target. The company proposed a reverse stock split ranging from 1:500 to 1:1,500, intended as an administrative function to reduce costs and potentially increase liquidity, to be followed by a forward split.

The demand for Modiv Industrial's products and services is not directly subject to typical consumer demand seasonality. However, the real estate sector, in general, experiences some degree of cyclicality and seasonality related to financial and operational cycles. Modiv Industrial's focus on long-term net leases with corporate and public sector tenants aims to provide stable, long-term cash flows, which inherently mitigates direct demand seasonality for its properties.

Modiv Industrial, Inc. is an internally managed REIT focused on single-tenant net-lease industrial manufacturing real estate. The company acquires critical industrial manufacturing properties with long-term leases to tenants that support the national economy and strengthen supply chains. In addition to its core industrial portfolio, the company also owns some non-core, legacy retail and office real estate properties. Modiv Industrial's business model centers on providing investors with access to real estate and real estate-related investments designed to generate both current income through monthly dividends and long-term growth.

Modiv Industrial pursues a geographically diversified strategy across the United States, targeting properties in key U.S. distribution corridors and growth markets. Its portfolio is distributed across 16 states and consists of 43 properties in 15 states, diversified among 30 tenants.

Modiv Industrial has maintained a generally positive brand reputation among analysts, receiving a consensus "Buy" rating. MarketBeat's MarketRank™ scored Modiv Industrial in the 83rd percentile overall. The company's leadership emphasizes an "investor-first focus" and "disciplined execution" to increase shareholder value.

Modiv Industrial, Inc. has a diverse ownership structure. Institutional shareholders hold 22.70% of the company, insiders own 9.77%, and retail investors account for 67.54%. Major institutional owners include BlackRock, Inc., Vanguard Group Inc, Geode Capital Management LLC, State Street Corp, Penserra Capital Management LLC and Northern Trust Corp. First City Investment Group LLC is the largest individual shareholder, owning 5.16% of the company, and Aaron Scott Halfacre is the CEO of Modiv Industrial.