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DENVER, CO - Modiv Industrial, Inc., a Maryland-incorporated real estate investment trust (REIT) specializing in industrial properties, announced today that its board of directors has scheduled the company's 2025 annual meeting of stockholders for July 23, 2025. The company, currently valued at $150.3 million and maintaining impressive gross profit margins of 92.3%, has set April 24, 2025, as the record date for stockholders eligible to vote at the meeting. According to InvestingPro analysis, the company demonstrates good financial health with strong operational metrics.
The company, which trades on the New York Stock Exchange under the symbols (NYSE:MDV) for its Class C Common Stock and (NYSE:MDV).PA for its 7.375% Series A Cumulative Redeemable Perpetual Preferred Stock, offers investors an attractive dividend yield of 7.76% and features a beta of -0.25, indicating it often moves counter to broader market trends. InvestingPro subscribers can access detailed analysis and 10+ additional key insights about Modiv Industrial's performance and outlook. The upcoming annual meeting will occur more than 30 days after the anniversary of the previous year's meeting.
As a result of this timing, the deadline for stockholders to submit proposals for inclusion in Modiv Industrial's proxy materials is April 17, 2025. This is in accordance with Rule 14a-8 under the Securities Exchange Act of 1934. Proposals must also adhere to the requirements of the Exchange Act to be considered for inclusion.
Furthermore, any stockholder proposals or nominations for the board of directors that do not fall under Rule 14a-8 must also be received by the company by the April 17 deadline, as per the company's amended and restated bylaws. These submissions must comply with the rules and regulations of the Securities and Exchange Commission (SEC), the Exchange Act, and the company's bylaws.
The announcement was made in a filing with the SEC, ensuring that all stockholders are informed of the key dates and their rights to submit proposals for the annual meeting. Modiv Industrial's Chief Financial Officer, Raymond (NSE:RYMD) J. Pacini, signed off on the filing today.
This planned annual meeting will provide an opportunity for stockholders to engage with the company's management on various matters, including the election of directors and other corporate governance issues.
In other recent news, Modiv Industrial, Inc. has reported its fourth-quarter 2024 earnings, surpassing Wall Street expectations with an earnings per share (EPS) of $0.07, which exceeded the forecast of $0.03. Revenue for the quarter was $11.73 million, slightly above the projected $11.55 million. Additionally, Modiv Industrial has raised its 2025 Adjusted Funds From Operations (AFFO) forecast to $1.39 per fully diluted share following a strategic share buyback. This move involved repurchasing 150,000 Series A Preferred shares at a 6% discount, totaling $3.525 million, and is expected to generate $276,000 in additional annual savings.
The company has also amended its sales agreement for Class C common stock, allowing for continued flexibility in capital raising, with approximately $40.3 million worth of shares available for issuance. Despite the positive earnings report, Modiv's stock experienced a decline, which may reflect broader market volatility. The company remains focused on strategic asset acquisitions and development opportunities. In addition, Modiv's CEO, Aaron Halfacre, emphasized a disciplined approach to growth, highlighting a strong dividend yield of 7.5% and long-term commitments from key tenants.
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