ADDED
As of March 20, 2026, there were 10,319,480 outstanding shares of the Registrant s Class C common stock.
We are focused on future acquisitions of industrial manufacturing properties, recycling certain of our assets, and reducing t he number of non-core properties in our portfolio, and therefore the prior performance of our real estate investments may not be comparable to our ongoing results.
( Modiv ) is an internally-managed Maryland corporation that acquires, owns and manages a portfolio of single-tenant net-lease properties throughout the United States, with a focus on critical industrial manufacturing properties with long-term leases to tenants that fuel the national economy and strengthen the nation s supply chains.
Modiv also owns three non-core, legacy retail and office real estate properties, and is gradually reducing its non-core exposure, subject to market conditions, as it furthers its focus as a pure-play industrial manufacturing real estate investment trust ( REIT ).
Modiv seeks to provide investors access to MOnthly DIVidends through a durable portfolio of real estate investments designed to generate both current income and long-term growth.
As used herein, the terms Modiv, the Company, we, our and us refer to Modiv Industrial, Inc.
and, as required by context, Modiv Operating Partnership, LP, a Delaware limited partnership (our Operating Partnership or Modiv OP ).
Our Class C common stock, $0.001 par value per share (the Class C Common Stock ), is listed on the New York Stock Exchange (the NYSE ) under the symbol MDV.
Our 7.375% Series A Cumulative Redeemable Perpetual Preferred Stock, $0.001 par value per share (the Series A Preferred Stock ), also is listed on the NYSE under the symbol MDV.PA.
During the year ended December 31, 2025, we acquired an industrial manufacturing property located in Florida.
REMOVED
As of February 28, 2025, there were 9,966,527 outstanding shares of the Registrant s Class C common stock.
We are focused on future acquisitions of industrial manufacturing properties and have reduced the number of non-core properties in our portfolio, and therefore the prior performance of our real estate investments may not be comparable to our ongoing results.
We are gradually reducing our remaining non-core properties as we seek to pursue growth through our investment strategy.
and other countries in response thereto, all of which have added to continuing concerns about supply chain disruptions, inflation and increased interest rates in the markets in which we operate; and the occurrence of any of the other risk factors presented in this Annual Report on Form 10-K, including in this Part I, Item 1A .
As of December 31, 2024, there were 2.0 million shares of Series A Preferred Stock issued and outstanding.
Further, in connection with acquisitions in January 2022 and April 2023, as discussed herein, the sellers received Class C OP Units as a portion of the purchase price.
In February 2025, we granted Class X OP Units, which convert automatically into Class C OP Units upon vesting and satisfaction of certain other conditions, to our executive officers.
As of February 28, 2025, we owned 83% of the outstanding OP Units in our Operating Partnership.
In addition, we may choose to retain operating cash flow for investment purposes, working capital reserves or other purposes, and these retained funds, although increasing the value of our underlying assets, may not correspondingly increase the market price of our Class C Common Stock.
Risks Related to Our Business We are focused on future acquisitions of industrial manufacturing properties while reducing the number of non-core properties in our portfolio, and therefore the prior performance of our real estate investments may not be comparable to our ongoing results.