Modiv Inc
NYSE:MDV
Modiv Inc
Modiv, Inc. operates as a real estate investment trust. The company is headquartered in Newport Beach, California. The company went IPO on 2022-02-10. The firm is primarily focused on acquiring, financing and owning single-tenant net-lease industrial, retail and office real estate properties throughout the United States leased to creditworthy tenants on long-term leases. The firm has developed non-listed real estate investment funds to be raised through crowdfunding technology and is the real estate crowdfunding investor-owned platform. The firm's portfolio includes approximately 2.2 million square feet of aggregate leasable space consisted of investments in38 properties located in 14 states consisting of 13 retail properties, 14 office properties and 11 industrial properties, including the TIC Interest.
Modiv, Inc. operates as a real estate investment trust. The company is headquartered in Newport Beach, California. The company went IPO on 2022-02-10. The firm is primarily focused on acquiring, financing and owning single-tenant net-lease industrial, retail and office real estate properties throughout the United States leased to creditworthy tenants on long-term leases. The firm has developed non-listed real estate investment funds to be raised through crowdfunding technology and is the real estate crowdfunding investor-owned platform. The firm's portfolio includes approximately 2.2 million square feet of aggregate leasable space consisted of investments in38 properties located in 14 states consisting of 13 retail properties, 14 office properties and 11 industrial properties, including the TIC Interest.
Portfolio Durability: Management expressed optimism about the company’s resilience and strong balance sheet despite ongoing market volatility and small size.
Acquisition Pipeline: Deal flow had slowed but has recently picked up, with more acquisition opportunities emerging in the past weeks, though quality remains a challenge.
Asset Sales: The company has formally listed two properties (Costco and Clara) for sale, aiming to close at least one by year-end or early next year, and expects further systematic asset recycling.
Capital Markets Outlook: Management is waiting for greater clarity on interest rate trends before pursuing external growth capital, and is cautious about raising capital through preferred stock or equity at current valuations.
Cap Rates: Most acquisition opportunities are showing cap rates in the 7% range, with some higher but little evidence of tighter spreads.
Tenant Health & Tariffs: No notable tenant credit issues; tenants have largely adapted to tariff risks and are not currently impacted by recent tariff uncertainty.
Property Expenses: Disposing of held-for-sale assets may reduce property expenses by roughly $100,000, with further reductions possible as non-core properties are recycled.
