Modiv Industrial Reports Q3 FFO Loss

(RTTNews) - Modiv Industrial, Inc. (MDV) Monday announced third quarter FFO loss of $1.715 million or $0.23 per share compared to FFO earnings of $3.564 million or $0.35 per share in the previous year. On an adjusted basis, FFO were $0.33 per share.

The quarterly results were impacted by loss on sale of real estate investment.

The public REIT exclusively focused on acquiring industrial manufacturing real estate reported a quarterly loss of $6.458 million compared to profit of $3.00 million in the prior year.

On a per-share basis, loss was $0.86, compared to profit of $0.35 in the previous year.

Rental income for the quarter increased to $12.500 million, from $10.303 million a year ago. The company reported loss on sale of real estate investments of $1.708 million compared to profit of $3.932 million.