Overview
Modiv Q3 revenue slightly missed analyst expectations
Adjusted FFO for Q3 beat consensus estimates
Outlook
Company plans to recycle select assets to improve AFFO and strengthen balance sheet
Modiv sees potential inflection points in REIT market due to investor fatigue
Result Drivers
COST REDUCTIONS - Decrease in G&A, property expenses, and interest expenses contributed to 22% increase in AFFO
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Slight Miss* | $11.7 mln | $11.8 mln (3 Analysts) |
Q3 Adjusted FFO | Beat | $4.5 mln | $0.34 (4 Analysts) |
*Applies to a deviation of less than 1%; not applicable for per-share numbers.
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the commercial reits peer group is "buy"
Wall Street's median 12-month price target for Modiv Industrial Inc is $17.75, about 17.7% above its November 13 closing price of $14.60
The stock recently traded at 140 times the next 12-month earnings vs. a P/E of 124 three months ago
Press Release: ID:nBw2Yr4c3a
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)