Modiv reports Q2 AFFO 34c, consensus 31c

Reports Q2 revenue $11.34M, consensus $11.77M. “This summer has been very similar to spring with still more price volatility, economic uncertainty and geo-political risk. Modiv stock, along with other REITs, has seen whipsaw price action as the market seems to swoon with admiration or hide with fright on any given day. As of this writing, the market appears to be hot to trot for some big rate cuts – not too dissimilar to the market’s mood back in December. We hope it happens this time – but ideally not on the heels of an economic meltdown -, but we are fully prepared for a meaningful rate cut not to happen for a while should that be the case. To be fair, we are not a stone cold company bereft of sentiment. In fact, we have a great sense of calm knowing that our company is stronger than it has ever been – we are ideally poised for the winds of fortune should they choose to blow our way. We also hold a sense of balanced optimism that the market tumult experienced by asset-intensive companies will come full circle eventually”.