Modiv Industrial Q4 FFO Surges

(RTTNews) - Modiv Industrial, Inc. (MDV), an REIT focused on acquiring industrial manufacturing real estate, on Tuesday reported a surge in Funds from Operations, or FFO, for the fourth quarter.

For the three-month period to December 31, 2024, the company posted FFO of $5.072 million, or $0.46 per share, higher than $2.397 million, or $0.21 per share, registered for the same period last year. Excluding items, FFO stood at $4.067 million, or $0.37 per share, compared with the prior year's $4.512 million, or $0.40 per share.

Net profit was $0.633 million, or $0.07 per share, as against a loss of $2.217 million, or $0.30 per share, in 2023. Operating income moved up to $5.330 million from $3.838 million a year ago.

Excluding items, EBITDA was $9.984 million, lesser than $10.926 million last year.

Total income slipped to $11.730 million from the previous year's $12.388 million. Rental income was $11.664 million, down from $12.289 million in 2023.