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Edge1 May 2026
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Modiv Industrial
Modiv Industrial (MDV) investor relations material
Modiv Industrial Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q1 2026 earnings summary8 May, 2026
Executive summary
Portfolio consisted of 41 properties (82% industrial by ABR), 99% occupancy, $40.1M annual base rent as of March 31, 2026.
Acquired remaining 27.3% TIC interest in Santa Clara, CA property for $9.6M and sold vacant St. Paul, MN property for $4.1M.
Entered into a merger agreement with Global Net Lease, Inc. (GNL), expected to close in Q3 2026, subject to shareholder approval.
Financial highlights
Rental revenue was $11.7M for Q1 2026, flat year-over-year.
Net loss attributable to common stockholders was $(0.9)M, or $(0.11) per share, compared to net income of $2K, or $(0.01) per share, in Q1 2025.
FFO was $2.7M ($0.21 per share/unit), AFFO was $4.1M ($0.32 per share/unit) for Q1 2026.
General and administrative expenses decreased 24% to $1.5M; stock compensation increased to $0.8M.
Cash provided by operating activities was $4.1M, up from $3.1M year-over-year.
Outlook and guidance
Merger with GNL expected to close in Q3 2026, with Class C shares converting to GNL shares and preferred stockholders receiving $25/share in cash.
Management expects adequate liquidity for the next 12 months and beyond.
No shares sold in ATM offering during Q1 2026; $36.9M remains available.
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Latest events from Modiv Industrial
- AFFO rose 15% in 2025 as asset recycling and portfolio transition advanced.MDV
Q4 202525 Mar 2026 - AFFO rose 22% year-over-year, with 96% occupancy and disciplined asset recycling amid volatility.MDVQ3 202510 Feb 2026
- AFFO per share rose, dividend increased, and a new accretive acquisition is underway.MDVQ3 202410 Feb 2026
- AFFO up 17.3% to $3.9M, 43-property portfolio, 7.79% yield, all debt fixed at 4.52%.MDVQ2 20242 Feb 2026
- AFFO and net income beat estimates; 2025 outlook highlights disciplined growth and strong yield.MDVQ4 202424 Dec 2025
- Shelf registration allows up to $250M in securities to fund industrial REIT growth and acquisitions.MDVRegistration Filing16 Dec 2025
- Annual meeting to vote on directors, auditor, executive pay, and a major reverse stock split.MDVProxy Filing2 Dec 2025
- Proxy seeks approval for director elections, auditor, executive pay, and a new incentive plan.MDVProxy Filing2 Dec 2025
- Annual meeting to vote on director elections, auditor, executive pay, and a reverse stock split.MDVProxy Filing2 Dec 2025
Next Modiv Industrial earnings date
Q2 20266 Aug, 2026
Modiv Industrial
Next Modiv Industrial earnings date
Q2 20266 Aug, 2026
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