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Modiv (MDV)

RW Holdings NNN REIT, Inc. is a publicly registered, non-listed real estate investment trust which was formed in 2015 to primarily invest, directly or indirectly, through investments in real estate owning entities, in single-tenant income-producing properties located in the United States, which are leased to creditworthy tenants under long-term net leases. As of June 30, 2020, the REIT's real estate investment portfolio consisted of 45 operating properties, a 72.7% tenant-in-common interest in an office property and one parcel of land in 14 states, including 19 retail, 14 office, and 12 industrial properties with approximately 2,468,840 square feet of aggregate leasable space.

Company profile

Ticker
MDV, MDV+A
Exchange
Employees
Incorporated
Location
Fiscal year end
Former names
Rich Uncles NNN REIT, Inc., Rich Uncles REIT, Inc., RW HOLDINGS NNN REIT, INC.
SEC CIK
Subsidiaries
Modiv Operating Partnership, LP • modiv, LLC • Rich Uncles NNN REIT Operator, LLC • modiv TRS, LLC • Modiv Advisors, LLC • Modiv Venture Fund, LLC • Modiv Divisibles, LLC • REITless Impact Opportunity Zone Strategies LLC • Modiv Acquisition Corp. • RU Accredo Orlando FL, LLC ...
IRS number
474156046

Analyst ratings and price targets

Last 3 months
Current price
Average target
$22.50
Low target
$22.00
High target
$23.00
Colliers Securities
Initiated
Buy
$22.00
6 Jun 22
EF Hutton
Initiated
Buy
$23.00
31 Mar 22

Calendar

13 May 22
29 Jun 22
31 Dec 22
Quarter (USD) Mar 22 Dec 21 Sep 21 Jun 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 25.34M 25.34M 25.34M 25.34M 25.34M 25.34M
Cash burn (monthly) 11.02M (no burn) 3.51M 878.62K 361.1K (no burn)
Cash used (since last report) 32.5M n/a 10.34M 2.59M 1.06M n/a
Cash remaining -7.16M n/a 15M 22.75M 24.28M n/a
Runway (months of cash) -0.6 n/a 4.3 25.9 67.2 n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
14 Jun 22 Raymond J Pacini COMMON STOCK, CLASS C Buy Acquire P No No 15 1,000 15K 3,333
25 May 22 Markman Adam Scott COMMON STOCK, CLASS C Buy Acquire P No No 15.748 63.472 999.56 10,527.441
25 May 22 Connie Tirondola COMMON STOCK, CLASS C Buy Acquire P No No 15.748 5.189 81.71 860.936
25 May 22 Asma Ishaq COMMON STOCK, CLASS C Buy Acquire P No No 15.748 5.189 81.71 860.936
13F holders Current Prev Q Change
Total holders 0 0
Opened positions 0 0
Closed positions 0 0
Increased positions 0 0
Reduced positions 0 0
13F shares Current Prev Q Change
Total value 0 0
Total shares 0 0
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners Shares Value Change
Largest transactions Shares Bought/sold Change

Financial report summary

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Management Discussion
  • As of March 31, 2022, we owned 36 operating properties, including the TIC Interest. We acquired two properties (one industrial and one retail) during the first three of months 2022 compared with no real estate acquisitions during the first three of months 2021. Four properties (three office and one industrial, which were classified as held for sale as of December 31, 2021) were sold during the first three months of 2022. Three retail properties were sold during the first three months of 2021, which were classified as held for sale as of December 31, 2020. The operating results of such properties that were classified as held for sale are included in our continuing results of operations.
  • We expect that rental income, tenant reimbursements, depreciation and amortization expense, and interest expense will increase for the full year of 2022 as compared with the full year of 2021, as a result of the two property acquisitions during the first quarter of 2022, the acquisition of an eight property industrial portfolio on April 19, 2022 and our plan to acquire additional properties during the remainder of 2022, partially offset by five dispositions in 2021 (three during the first quarter and one each during the third and fourth quarters) and four dispositions in February 2022. Our results of operations for the three months ended March 31, 2022 may not be indicative of those expected for the full year of 2022 or in future periods.
  • Due to the continuing COVID-19 pandemic, including the recent spread of its variants, in the United States and globally, our tenants and operating partners continue to be impacted. The continued impact of the COVID-19 pandemic and its variants on our future results will largely depend on future developments, which are highly uncertain and cannot be predicted, including new information regarding mutations of COVID-19, the success of actions taken to contain or treat COVID-19, the effectiveness of the current vaccines to contain the COVID-19 variants, and reactions by consumers, companies, governmental entities and capital markets. We, including our tenants, may also by impacted by the worsening inflation, interest rate environment and disruption of supply chains in the U.S. and globally. The effects of these challenging economic factors may be mitigated by the number of credit tenants in our portfolio and the diversity of our property locations and tenant industries.

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. senior Avg
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