Company research
MODIV INDUSTRIAL, INC.
CIK 1645873Updated Sep 24, 2026
Name history
MODIV INC. · through Jul 27, 2023RW HOLDINGS NNN REIT, INC. · through Jan 11, 2021Rich Uncles NNN REIT, Inc. · through Jul 31, 2017Rich Uncles REIT, Inc. · through Dec 8, 2015
MDV price & chart
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NYSE:MDV on TradingView ↗About the company
Modiv Industrial, Inc. is an internally managed REIT that is focused on single-tenant net-lease industrial manufacturing real estate. Modiv actively acquires critical industrial manufacturing properties with long-term leases to tenants that fuel the national economy and strengthen the nation's supply chains. For more information, please visit www.modiv.com
In the news
Global Net Lease to Acquire Modiv Industrial in $535 Million Transaction ↗
Recent filings
Show 5 more recent filings
4 filing
S-8 POS filing
POS AM filing
Termination of a Material Definitive Agreement · Completion of Acquisition or Disposition of Assets · Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing · Material Modification to Rights of Security Holders · Changes in Control of Registrant · Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements · Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year
Items 1.02, 2.01, 3.01, 3.03, 5.01, 5.02, 5.03, 9.01
10-Q filing
Financials
FY 2025 · USDSource
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balance sheet · annual statements
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| ASSETS | ||||
| AssetsUSD | 476,457,000Source | 507,829,000Source | 530,895,830Source | 456,026,046Source |
| GoodwillUSD | — | — | — | 0Source |
| Current assets: | ||||
| Cash and Cash Equivalents, at Carrying ValueUSD | 14,381,000Source | 11,530,000Source | 3,129,414Source | 8,608,649Source |
| Accounts Receivable | — | — | — | — |
| LIABILITIES AND EQUITY | ||||
| LiabilitiesUSD | 274,412,000Source | 293,779,000Source | 305,773,922Source | 214,992,086Source |
| Stockholders’ equity: | ||||
| Additional Paid in CapitalUSD | 337,028,000Source | 349,479,000Source | 292,617,486Source | 278,339,020Source |
| Retained Earnings (Accumulated Deficit)USD | -168,100,000Source | -154,074,000Source | -145,551,586Source | -117,938,876Source |
| Accumulated Other Comprehensive Income (Loss), Net of TaxUSD | 919,000Source | 1,841,000Source | 2,658,170Source | 3,502,616Source |
| Stockholders' Equity Attributable to ParentUSD | 162,748,000Source | 190,146,000Source | 144,443,338Source | 159,750,904Source |
| Liabilities and EquityUSD | 476,457,000Source | 507,829,000Source | 530,895,830Source | 456,026,046Source |
| Stockholders' Equity Attributable to Noncontrolling InterestUSD | 39,297,000Source | 23,904,000Source | 80,678,570Source | 81,283,056Source |
| Additional Financial Items | ||||
| Dividends PayableUSD | — | — | — | 1,768,068Source |
| Long-term DebtUSD | 261,483,000Source | 279,776,000Source | 279,538,756Source | 195,453,720Source |
cash flow · annual statements
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| Cash flows from operating activities: | ||||
| Net Income (Loss), Including Portion Attributable to Noncontrolling InterestUSD | 554,000Source | 6,493,000Source | -8,696,261Source | -4,511,318Source |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||
| Depreciation and amortization | — | — | — | — |
| Share-based Payment Arrangement, Noncash ExpenseUSD | 2,915,000Source | 1,586,000Source | 11,171,207Source | 2,401,022Source |
| Changes in operating assets and liabilities: | ||||
| Increase (Decrease) in Accounts ReceivableUSD | 13,000Source | -71,000Source | -386,149Source | 2,072,718Source |
| Net Cash Provided by (Used in) Operating ActivitiesUSD | 14,967,000Source | 18,241,000Source | 16,578,228Source | 16,648,821Source |
| Cash flows from investing activities: | ||||
| Net Cash Provided by (Used in) Investing ActivitiesUSD | 27,801,000Source | 8,395,000Source | -93,602,234Source | -61,063,193Source |
| Cash flows from financing activities: | ||||
| Payments for Repurchase of Common StockUSD | 0Source | 11,534,000Source | 1,129,162Source | 4,161,618Source |
| Net Cash Provided by (Used in) Financing ActivitiesUSD | -39,917,000Source | -18,235,000Source | 71,544,771Source | -5,384,499Source |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate EffectUSD | 2,851,000Source | 8,401,000Source | -5,479,235Source | -49,798,871Source |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash EquivalentsUSD | 14,381,000Source | 11,530,000Source | 3,129,414Source | 8,608,649Source |
| Supplemental disclosure of cash flow information: | ||||
| Interest Paid, Excluding Capitalized Interest, Operating ActivitiesUSD | 12,268,000Source | 13,504,000Source | 12,008,801Source | 7,768,212Source |
| Additional Financial Items | ||||
| Share-based Payment Arrangement, ExpenseUSD | 2,915,000Source | 1,586,000Source | 11,171,207Source | 2,401,022Source |
| Amortization of Debt Issuance Costs and DiscountsUSD | — | — | — | 484,930Source |
| Dividends PayableUSD | — | — | — | 1,768,068Source |
| Equity Securities, FV-NI, Unrealized Gain (Loss)USD | 0Source | 0Source | 1,418,658Source | — |
| Gain (Loss) on Sale of DerivativesUSD | — | — | 0Source | 788,016Source |
| Gain (Loss) on Sale of InvestmentsUSD | — | -151,000Source | — | — |
| Gain (Loss) on Extinguishment of DebtUSD | -768,000Source | — | 0Source | -1,725,318Source |
| Gains (Losses) on Sales of Investment Real EstateUSD | 2,520,000Source | 3,360,000Source | -1,708,801Source | 12,196,371Source |
| General and Administrative ExpenseUSD | 5,811,000Source | 6,340,000Source | 6,642,990Source | 7,812,057Source |
| GoodwillUSD | — | — | — | 0Source |
| Goodwill and Intangible Asset ImpairmentUSD | — | — | — | 17,320,857Source |
| Goodwill, Impairment LossUSD | — | — | 0Source | 17,320,857Source |
| Income (Loss) from Equity Method InvestmentsUSD | 758,000Source | 297,000Source | 279,549Source | 278,002Source |
| InterestExpenseNonoperatingUSD | 16,917,000Source | 16,221,000Source | — | — |
| Investment Income, InterestUSD | — | 474,000Source | 325,888Source | 21,910Source |
| Net Income (Loss) Attributable to ParentUSD | 1,068,000Source | 6,018,000Source | -6,613,842Source | -3,288,535Source |
| Net Income (Loss) Attributable to Noncontrolling InterestUSD | -514,000Source | 475,000Source | -2,082,419Source | -1,222,783Source |
| Net Income (Loss) Available to Common Stockholders, BasicUSD | -2,134,000Source | 2,330,000Source | -10,301,342Source | -6,976,035Source |
| Nonoperating Income (Expense)USD | -15,266,000Source | -15,488,000Source | -11,010,048Source | -1,331,435Source |
| Operating Lease, Lease IncomeUSD | 45,823,000Source | 46,497,000Source | 46,936,599Source | — |
| Other Nonoperating Income (Expense)USD | — | — | 297,695Source | 93,971Source |
| Payments of Financing CostsUSD | 70,000Source | — | 0Source | 3,638,229Source |
| Proceeds from Issuance of Common StockUSD | 2,754,000Source | 7,711,000Source | 832,082Source | 114,500Source |
| Revenue from Contract with Customer, Including Assessed TaxUSD | — | — | — | 46,174,267Source |
| Share-based Payment Arrangement, Expensed and Capitalized, AmountUSD | 2,915,000Source | 1,586,000Source | 11,171,207Source | 2,401,022Source |
income statement · annual statements
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| Total RevenueUSD | 46,387,000Source | 46,761,000Source | — | — |
| Operating Income (Loss)USD | 15,820,000Source | 21,981,000Source | 2,313,787Source | -3,179,883Source |
| Other Nonoperating Income (Expense)USD | — | — | 297,695Source | 93,971Source |
| Net Income (Loss) Attributable to Noncontrolling InterestUSD | -514,000Source | 475,000Source | -2,082,419Source | -1,222,783Source |
| Net Income (Loss) Attributable to ParentUSD | 1,068,000Source | 6,018,000Source | -6,613,842Source | -3,288,535Source |
| Earnings Per Share, BasicUSD per share | -0.31Source | 0.25Source | -1.36Source | -0.93Source |
| Earnings Per Share, DilutedUSD per share | -0.31Source | 0.25Source | -1.36Source | -0.93Source |
| Weighted Average Number of Shares Outstanding, Basicshares | 10,144,791Source | 9,293,103Source | 7,558,833Source | 7,487,204Source |
| Weighted Average Number of Shares Outstanding, Dilutedshares | 11,676,838Source | 11,188,974Source | 7,558,833Source | 7,487,204Source |
| Interest Expense (non-operating)USD | 16,917,000Source | 16,221,000Source | — | — |
| Additional Financial Items | ||||
| Common Stock, Dividends, Per Share, DeclaredUSD per share | 1.17Source | — | — | — |
| Cost of Property Repairs and MaintenanceUSD | 3,460,000Source | 3,613,000Source | 5,161,017Source | 8,899,626Source |
| Costs and ExpensesUSD | 33,087,000Source | 28,140,000Source | 42,914,011Source | 61,550,521Source |
| Depreciation, Depletion and Amortization, NonproductionUSD | 15,087,000Source | 16,601,000Source | 15,551,173Source | 14,929,574Source |
| Gains (Losses) on Sales of Investment Real EstateUSD | 2,520,000Source | 3,360,000Source | -1,708,801Source | 12,196,371Source |
| General and Administrative ExpenseUSD | 5,811,000Source | 6,340,000Source | 6,642,990Source | 7,812,057Source |
| Goodwill, Impairment LossUSD | — | — | 0Source | 17,320,857Source |
| Income (Loss) from Equity Method InvestmentsUSD | 758,000Source | 297,000Source | 279,549Source | 278,002Source |
| Interest and Other IncomeUSD | 893,000Source | — | — | — |
| Interest ExpenseUSD | 16,917,000Source | 16,221,000Source | 13,806,838Source | 8,106,658Source |
| Investment Income, InterestUSD | — | 474,000Source | 325,888Source | 21,910Source |
| Management Fee ExpenseUSD | — | — | — | 263,971Source |
| Net Income (Loss) Available to Common Stockholders, BasicUSD | -2,134,000Source | 2,330,000Source | -10,301,342Source | -6,976,035Source |
| Noncontrolling Interest in Net Income (Loss) Operating Partnerships, RedeemableUSD | — | 475,000Source | — | — |
| Nonoperating Income (Expense)USD | -15,266,000Source | -15,488,000Source | -11,010,048Source | -1,331,435Source |
| Operating Lease, Lease IncomeUSD | 45,823,000Source | 46,497,000Source | 46,936,599Source | — |
| Preferred Stock Dividends, Income Statement ImpactUSD | 3,202,000Source | 3,688,000Source | 3,687,500Source | 3,687,500Source |
| Revenue from Contract with Customer, Including Assessed TaxUSD | — | — | — | 46,174,267Source |
| Share-based Payment Arrangement, Expensed and Capitalized, AmountUSD | 2,915,000Source | 1,586,000Source | 11,171,207Source | 2,401,022Source |
Filing attachments
ef20072329_ex99-1.htm · 8-K · 2026-05-04
EX-99.1 3 ef20072329_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 Global Net Lease to Acquire Modiv Industrial in $535 Million Transaction Immediate 4% Accretion to AFFO per Share in All-Stock, Leverage-Neutral Transaction Complementary High-Quality Industrial Net-Lease Assets Enhance Existing Portfolio No External Capital Required to Complete Leverage-Neutral Transaction NEW YORK and DENVER - May 4, 2026 - Global Net Lease, Inc. (NYSE: GNL) (“GNL” or the “Company”) and Modiv Industrial, …
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