Modiv Industrial Inc. reproted Q4 2023 with $12.3 million in revenue, a 23% increase year-over-year.

Modiv Industrial Inc. (MDV), the only public REIT exclusively focused on acquiring industrial manufacturing real estate, has reported its operating results for the fourth quarter and full year ended December 31, 2023.

Modiv Industrial showcased robust financial results in the fourth quarter, with revenue reaching $12.3 million, marking a $2.3 million year-over-year increase, or a 23% growth, excluding a 2022 lease termination fee. Additionally, the fourth quarter AFFO (Adjusted Funds From Operations) of $4.5 million, or $0.40 per diluted share, exceeded expectations by $0.05 per share.

Performance Against Expectations

Comparing the actual performance to the expectations set for the quarter, Modiv Industrial not only met but exceeded the forecasted EPS of $0.02 and revenue of $12.36 million. The company’s AFFO per diluted share of $0.40 surpassed the anticipated performance, reflecting strong operational execution and strategic asset management. However, the diluted EPS of -$0.29 was short of street expectations.

Guidance for the Future

Modiv Industrial has provided optimistic guidance that underscores its confidence in the ongoing strength of its business operations and its strategic positioning within the industrial manufacturing real estate sector. The company’s statements suggest a continuation of its growth trajectory, supported by a focus on accretive acquisitions, disciplined capital management, and strategic dispositions.

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