Modiv (MDV)
NYSE:MDV
Earnings Data
Report Date
May 18, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.01Last Year’s EPS
-0.01Same Quarter Last Year
Strong Buy
Based on 3 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Neutral
The earnings call presents a balanced picture: operationally the company maintained liquidity, fixed its interest costs (100% hedged at a 4.15% weighted average), avoided near-term maturities and has an active, articulated plan to recycle non-core office assets into manufacturing industrial properties. However, near-term headwinds include a roughly 6% decline in rental income, pressure on AFFO per share driven by share issuance (-13.5%), increased reported interest expense from swap amortization, short WALTs and a cautious transaction market that complicates disposition/redeployment timing. Management conveyed confidence in executing the 24-month transformation plan and highlighted meaningful buyer interest, but acknowledged current market volatility and tax-sensitive constraints on certain large assets.Company Guidance
Liquidity and Available Capital
Total cash and cash equivalents of $14.4 million and $30 million available to draw on revolver as of December 31, 2025, providing near-term liquidity for operations and transactions.
Debt Profile and Interest Rate Hedging
Consolidated debt of $262.1 million with $250 million outstanding on a $280 million credit facility; following a January 2026 amendment and interest rate swaps, 100% of indebtedness was fixed with a weighted average interest rate of 4.15% and no debt maturities until July 2028 (leverage ~45.1%).
AFFO and Operational Offsets
Fourth quarter AFFO of $4.0 million (versus $4.1 million a year ago) with company noting operational offsets including a $299,000 decrease in cash interest expense, $138,000 decrease in preferred stock dividends, $40,000 decrease in property expenses and $15,000 decrease in G&A that helped partially offset cash rent declines.
Active Asset Recycling and Disposition Progress
Management is executing an asset recycling plan: selling non-core office assets (e.g., Issaquah property sold Dec 15, 2025), planning to market the former Solar Turbines (San Diego) property after a lot split, accepted an unsolicited offer on a short-WALT Northrop property, and expects increased disposition activity over the coming year.
Path to Pure-Play Manufacturing Industrial Portfolio
Management reiterated a goal to convert the portfolio to 100% manufacturing industrial and believes the 24-month timeline is realistic (could be accelerated to ~12 months if market conditions and pipeline line up), indicating a clear strategic focus.
Portfolio Valuation and Market Interest
Internal NAV reported at $22.19 per share (implied ~6.8% cap rate). Management cited multiple inbound offers and market conversations with observed private market cap-rate talk in the ~6.75%–7.5% range for similar assets, signaling buyer interest and perceived underlying portfolio value.
Dividend Stability
Management affirmed continuing the monthly dividend of $0.10 per share, providing predictable cash return to shareholders while executing strategy.
Tax-Sensitive Disposition Planning
Management is thoughtful about 1031/UPREIT tax implications (e.g., the Kia dealership has low tax basis and sale would require careful redeployment planning) and is using a recent tax loss from the Kalera disposition to shelter gains (Melbourne sale scheduled to close in Q2, with ~$400k earnest money).
MDV Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
MDV Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Mar 25, 2026 | $14.20 | $14.14 | -0.42% |
Nov 14, 2025 | $14.21 | $14.19 | -0.14% |
Aug 07, 2025 | $13.69 | $13.70 | +0.07% |
May 07, 2025 | $13.55 | $13.59 | +0.28% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Modiv (MDV) report earnings?
Modiv (MDV) is schdueled to report earning on May 18, 2026, After Close (Confirmed).
What is Modiv (MDV) earnings time?
Modiv (MDV) earnings time is at May 18, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is MDV EPS forecast?
MDV EPS forecast for the fiscal quarter 2026 (Q1) is 0.01.