{"id":822996,"date":"2025-03-07T06:58:03","date_gmt":"2025-03-07T11:58:03","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/modiv-industrial-increases-affo-and-retires-preferred-shares\/"},"modified":"2025-03-07T06:58:03","modified_gmt":"2025-03-07T11:58:03","slug":"modiv-industrial-increases-affo-and-retires-preferred-shares","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/modiv-industrial-increases-affo-and-retires-preferred-shares\/","title":{"rendered":"Modiv Industrial Increases AFFO and Retires Preferred Shares"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwlistdisc { list-style-type: disc }\n.bwmarginl1 { margin-left: 30px }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>Modiv Industrial Increases AFFO and Retires Preferred Shares<\/b><\/p>\n<p>DENVER&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nModiv Industrial, Inc. (\u201cModiv Industrial\u201d, \u201cModiv\u201d, the \u201cCompany\u201d, \u201cwe\u201d or \u201cour\u201d), (NYSE:MDV), the only public REIT exclusively focused on acquiring industrial manufacturing real estate, today provided a financial update.\n<\/p>\n<p><b>Highlights:<\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li>\nRetires 7.5% of Modiv\u2019s Series A Preferred shares at a 6% discount to par value.\n<\/li>\n<li>\nThe 150,000 preferred share acquisition at $23.50 per share, for a total of $3.525 million, represents a 7.85% annual yield and a 13.45% yield to call.\n<\/li>\n<li>\nIncreases base case, static 2025 Adjusted Funds From Operations (\u201cAFFO\u201d) estimate to $1.39 per fully diluted share.\n<\/li>\n<\/ul>\n<p>\nThe following is a statement from Aaron Halfacre, CEO of Modiv Industrial:\n<\/p>\n<p>\n\u201cMost days being a small cap REIT CEO in a high interest rate environment feels a lot like being Rodney Dangerfield\u2026you might be entertaining to investors on any given day but the majority of time you get no respect. Case in point, just a few days ago we released results that solidly beat consensus estimates, and the market yawned with a blank stare \u2013 you\u2019re a tough audience to please. Let\u2019s see if today\u2019s news can at least cause you to begrudgingly break a smile.\n<\/p>\n<p>\nThough it may not be a four-leaf clover, at the very least it is a vibrant three-leaf clover found in the dead of winter, and I gladly accept this lucky charm as the yield is magically delicious. We received a random call from an unknown fixed income broker we had never heard of saying they had a client that would like to sell a large block of our series A preferred shares and wanted to know if we were interested. After a little price banter, we agreed to a private market transaction to acquire 150,000 preferred shares at $23.50 per share. That\u2019s 7.5% of our entire preferred stack, that\u2019s meaningful on multiple fronts. If I may\u2026\n<\/p>\n<p class=\"bwmarginl1\">\n&#8211; This transaction shows that discipline and patience pay off. This is arguably better than buying a $3.5 million property as the annual yield of 7.85% is higher than what we have seen in the market, and we know for a fact that this investment would cost us 6% more in as little as two years.\n<\/p>\n<p class=\"bwmarginl1\">\n&#8211; For those who consider preferred equity as leverage, this shows our commitment to reducing our leverage and strengthening cash flow to common equity investors.\n<\/p>\n<p class=\"bwmarginl1\">\n&#8211; This acquisition results in $276,000 in additional annual savings which is on top of the recently announced $700,000 in interest savings and $300,000 in revolver savings that are also related to \u2018leverage\u2019.\n<\/p>\n<p>\nThis transaction increases our base case, static, \u2018stare-at-navel\u2019 AFFO to $1.39 per fully diluted share for 2025. Yes, it is only a two-cent increase (in as many days) to our \u201cdo nothing\u201d scenario but it highlights how a small REIT can move the needle with smart decisions. I will let you make your own bets on whether you think we will do nothing this year; however, not unlike when we retired OP units last year for $14.80 that we had issued at $25.00, acquiring preferred at $23.50 that was originally issued at $25.00 is another example of our ability to make money for our investors. Every penny matters and if you know how to make investors money, then you will be given the opportunity to do so with larger amounts over time. Though the cash to purchase this transaction was on balance sheet and is a bit fungible, let\u2019s for illustrative purposes link this cash to the ATM sales we did in the fourth quarter of 2024. That equity was issued at a dividend yield\/cost of capital of 7.24% and we have quickly redeployed that capital at a 7.85% yield with quantifiable upside.\n<\/p>\n<p>\nToday\u2019s news will likely not earn the respect of some of you and that\u2019s ok. My hope is that those investors out there, who worked damn frickin hard for their money, will read this and say to themselves \u2018this dude is a good steward of my capital\u2019. To paraphrase Warren Buffett, I personally have put all my eggs in one basket (over 1.11 million eggs to be exact \u2013 which is over 8% of the MDV basket), and I am watching (and thinking and strategizing and perfecting) that basket 24\/7. Each day we climb the hill, each day we grind it out, and for those of you who that resonates with \u2013 then welcome to the tribe.\n<\/p>\n<p>\nUntil next time.\n<\/p>\n<p>\nGrit, grind, get it done!\u201d Aaron Halfacre, CEO of Modiv Industrial\n<\/p>\n<p><b>About Modiv Industrial<\/b><\/p>\n<p>\nModiv Industrial, Inc. is an internally managed REIT that is focused on single-tenant net-lease industrial manufacturing real estate. The Company actively acquires critical industrial manufacturing properties with long-term leases to tenants that fuel the national economy and strengthen the nation\u2019s supply chains. For more information, please visit: <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.modiv.com&amp;esheet=54220791&amp;newsitemid=20250306822061&amp;lan=en-US&amp;anchor=www.modiv.com&amp;index=1&amp;md5=ae6786506bd5121a2150b145704dc1b5\">www.modiv.com<\/a>.\n<\/p>\n<p><b>Forward-looking Statements<\/b><\/p>\n<p>\nCertain statements contained in this press release, other than historical facts, may be considered forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include, but are not limited to, statements regarding our plans, strategies and prospects, both business and financial. Such forward-looking statements are subject to various risks and uncertainties, including but not limited to those described under the section entitled \u201cRisk Factors\u201d in the Company\u2019s Annual Report on Form 10-K for the year ended December 31, 2024 filed with the SEC on March 4, 2025. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this press release and in the Company\u2019s other filings with the SEC. Any forward-looking statements herein speak only as of the time when made and are based on information available to the Company as of such date and are qualified in their entirety by this cautionary statement. The Company assumes no obligation to revise or update any such statement now or in the future, unless required by law.\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20250306822061r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20250306822061\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20250306822061\/en\/<\/a><\/span><\/p>\n<p><b>Inquiries:<br \/>\n<\/b><br \/><a rel=\"nofollow\" href=\"mailto:management@modiv.com\">management@modiv.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> United States North America Colorado<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Professional Services Residential Building &amp; Real Estate Commercial Building &amp; Real Estate Finance Construction &amp; Property REIT<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20250306822061\/en\/2403041\/3\/Modiv_Logo_Gear.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Modiv Industrial Increases AFFO and Retires Preferred Shares DENVER&#8211;(BUSINESS WIRE)&#8211; Modiv Industrial, Inc. (\u201cModiv Industrial\u201d, \u201cModiv\u201d, the \u201cCompany\u201d, \u201cwe\u201d or \u201cour\u201d), (NYSE:MDV), the only public REIT exclusively focused on acquiring industrial manufacturing real estate, today provided a financial update. Highlights: Retires 7.5% of Modiv\u2019s Series A Preferred shares at a 6% discount to par value. The 150,000 preferred share acquisition at $23.50 per share, for a total of $3.525 million, represents a 7.85% annual yield and a 13.45% yield to call. Increases base case, static 2025 Adjusted Funds From Operations (\u201cAFFO\u201d) estimate to $1.39 per fully diluted share. The following is a statement from Aaron Halfacre, CEO of Modiv Industrial: \u201cMost days being a small cap REIT CEO in a &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/modiv-industrial-increases-affo-and-retires-preferred-shares\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Modiv Industrial Increases AFFO and Retires Preferred Shares&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-822996","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Modiv Industrial Increases AFFO and Retires Preferred Shares - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/modiv-industrial-increases-affo-and-retires-preferred-shares\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Modiv Industrial Increases AFFO and Retires Preferred Shares - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Modiv Industrial Increases AFFO and Retires Preferred Shares DENVER&#8211;(BUSINESS WIRE)&#8211; Modiv Industrial, Inc. (\u201cModiv Industrial\u201d, \u201cModiv\u201d, the \u201cCompany\u201d, \u201cwe\u201d or \u201cour\u201d), (NYSE:MDV), the only public REIT exclusively focused on acquiring industrial manufacturing real estate, today provided a financial update. Highlights: Retires 7.5% of Modiv\u2019s Series A Preferred shares at a 6% discount to par value. The 150,000 preferred share acquisition at $23.50 per share, for a total of $3.525 million, represents a 7.85% annual yield and a 13.45% yield to call. Increases base case, static 2025 Adjusted Funds From Operations (\u201cAFFO\u201d) estimate to $1.39 per fully diluted share. The following is a statement from Aaron Halfacre, CEO of Modiv Industrial: \u201cMost days being a small cap REIT CEO in a &hellip; Continue reading &quot;Modiv Industrial Increases AFFO and Retires Preferred Shares&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/modiv-industrial-increases-affo-and-retires-preferred-shares\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2025-03-07T11:58:03+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20250306822061r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/modiv-industrial-increases-affo-and-retires-preferred-shares\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/modiv-industrial-increases-affo-and-retires-preferred-shares\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Modiv Industrial Increases AFFO and Retires Preferred Shares\",\"datePublished\":\"2025-03-07T11:58:03+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/modiv-industrial-increases-affo-and-retires-preferred-shares\\\/\"},\"wordCount\":1057,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/modiv-industrial-increases-affo-and-retires-preferred-shares\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&amp;sty=20250306822061r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/modiv-industrial-increases-affo-and-retires-preferred-shares\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/modiv-industrial-increases-affo-and-retires-preferred-shares\\\/\",\"name\":\"Modiv Industrial Increases AFFO and Retires Preferred Shares - 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(\u201cModiv Industrial\u201d, \u201cModiv\u201d, the \u201cCompany\u201d, \u201cwe\u201d or \u201cour\u201d), (NYSE:MDV), the only public REIT exclusively focused on acquiring industrial manufacturing real estate, today provided a financial update. Highlights: Retires 7.5% of Modiv\u2019s Series A Preferred shares at a 6% discount to par value. The 150,000 preferred share acquisition at $23.50 per share, for a total of $3.525 million, represents a 7.85% annual yield and a 13.45% yield to call. Increases base case, static 2025 Adjusted Funds From Operations (\u201cAFFO\u201d) estimate to $1.39 per fully diluted share. The following is a statement from Aaron Halfacre, CEO of Modiv Industrial: \u201cMost days being a small cap REIT CEO in a &hellip; Continue reading \"Modiv Industrial Increases AFFO and Retires Preferred Shares\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/modiv-industrial-increases-affo-and-retires-preferred-shares\/","og_site_name":"Market Newsdesk","article_published_time":"2025-03-07T11:58:03+00:00","og_image":[{"url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20250306822061r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/modiv-industrial-increases-affo-and-retires-preferred-shares\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/modiv-industrial-increases-affo-and-retires-preferred-shares\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Modiv Industrial Increases AFFO and Retires Preferred Shares","datePublished":"2025-03-07T11:58:03+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/modiv-industrial-increases-affo-and-retires-preferred-shares\/"},"wordCount":1057,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/modiv-industrial-increases-affo-and-retires-preferred-shares\/#primaryimage"},"thumbnailUrl":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20250306822061r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/modiv-industrial-increases-affo-and-retires-preferred-shares\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/modiv-industrial-increases-affo-and-retires-preferred-shares\/","name":"Modiv Industrial Increases AFFO and Retires Preferred Shares - 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