v3.26.1
Consolidated Statements of Equity - USD ($)
$ in Thousands
Total
Cash Distribution
Class C common stock
Total Modiv Industrial, Inc. Equity
Total Modiv Industrial, Inc. Equity
Cash Distribution
Preferred Stock
Class C Common Stock (“CS”)
Class C Common Stock (“CS”)
Class C common stock
Additional Paid-in Capital
Treasury Stock
Cumulative Distributions and Net Losses
Cumulative Distributions and Net Losses
Cash Distribution
Accumulated Other Comprehensive Income (Loss)
Noncontrolling Interest in the Operating Partnership
Noncontrolling Interest in the Operating Partnership
Cash Distribution
Beginning balance (in shares) at Dec. 31, 2024           2,000,000                  
Beginning balance at Dec. 31, 2024 $ 214,050     $ 190,146   $ 2   $ 10 $ 349,479 $ (7,112) $ (154,074)   $ 1,841 $ 23,904  
Beginning balance (in shares) at Dec. 31, 2024               10,404,211              
Beginning balance (in shares) at Dec. 31, 2024                   (467,319)          
Increase (Decrease) in Stockholders' Equity                              
Issuance of common stock - distribution reinvestments (in shares)               68,544              
Issuance of common stock - distribution reinvestments 976     976         976            
ATM offering of common stock, net (in shares)               133,376              
ATM offering of common stock, net 1,671     1,671     $ 1   1,670            
Stock compensation expense (in shares)               7,999              
Stock compensation expense 120     120         120            
OP Units compensation expense 1,174     1,174         1,174            
Repurchase of preferred stock (in shares)           (275,000)                  
Repurchase of preferred stock (6,530)     (6,530)         (6,546)   16        
Issuance of Class C OP Units for property acquisition 5,850                         5,850  
Dividends declared, preferred stock (1,623)     (1,623)             (1,623)        
Cash distributions declared, CS and non-controlling interests   $ (7,178)     $ (5,887)             $ (5,887)     $ (1,291)
Net income (loss) (1,804)     (1,193)             (1,193)     (611)  
Other comprehensive income (loss) (491)     (403)                 (403) (88)  
Adjustment to noncontrolling interests 0     (12,848)         (12,777)       (71) 12,848  
Ending balance (in shares) at Jun. 30, 2025           1,725,000                  
Ending balance at Jun. 30, 2025 206,215     165,603   $ 2   $ 11 334,096 $ (7,112) (162,761)   1,367 40,612  
Ending balance (in shares) at Jun. 30, 2025               10,614,130              
Ending balance (in shares) at Jun. 30, 2025                   (467,319)          
Beginning balance (in shares) at Mar. 31, 2025           1,795,000                  
Beginning balance at Mar. 31, 2025 213,376     171,107   $ 2   $ 11 333,721 $ (7,112) (156,967)   1,452 42,269  
Beginning balance (in shares) at Mar. 31, 2025               10,540,351              
Beginning balance (in shares) at Mar. 31, 2025                   (467,319)          
Increase (Decrease) in Stockholders' Equity                              
Issuance of common stock - distribution reinvestments (in shares)               34,403              
Issuance of common stock - distribution reinvestments 486     486         486            
ATM offering of common stock, net (in shares)               35,115              
ATM offering of common stock, net 402     402         402            
Stock compensation expense (in shares)               4,261              
Stock compensation expense 60     60         60            
OP Units compensation expense 750     750         750            
Repurchase of preferred stock (in shares)           (70,000)                  
Repurchase of preferred stock (1,679)     (1,679)         (1,666)   (13)        
Dividends declared, preferred stock (796)     (796)             (796)        
Cash distributions declared, CS and non-controlling interests   (3,692)     (2,963)             (2,963)     (729)
Net income (loss) (2,633)     (2,022)             (2,022)     (611)  
Other comprehensive income (loss) (59)     (39)                 (39) (20)  
Adjustment to noncontrolling interests       297         343       (46) (297)  
Ending balance (in shares) at Jun. 30, 2025           1,725,000                  
Ending balance at Jun. 30, 2025 206,215     165,603   $ 2   $ 11 334,096 $ (7,112) (162,761)   1,367 40,612  
Ending balance (in shares) at Jun. 30, 2025               10,614,130              
Ending balance (in shares) at Jun. 30, 2025                   (467,319)          
Beginning balance (in shares) at Dec. 31, 2025           1,701,500                  
Beginning balance at Dec. 31, 2025 $ 202,045     162,748   $ 2   $ 11 337,028 $ (7,112) (168,100)   919 39,297  
Beginning balance (in shares) at Dec. 31, 2025     10,299,390         10,766,709              
Beginning balance (in shares) at Dec. 31, 2025 (467,319)                 (467,319)          
Increase (Decrease) in Stockholders' Equity                              
Issuance of common stock - distribution reinvestments (in shares)               20,090              
Issuance of common stock - distribution reinvestments $ 281     281         281            
Stock compensation expense (in shares)               4,190              
Stock compensation expense 60     60         60            
OP Units compensation expense 1,488     1,488         1,488            
Repurchase of preferred stock (in shares)           (23,912)                  
Repurchase of preferred stock (596)     (596)         (569)   (27)        
Dividends declared, preferred stock (1,548)     (1,548)             (1,548)        
Cash distributions declared, CS and non-controlling interests   (7,685)     (6,192)             (6,192)     (1,493)
Net income (loss) 6,190     5,288             5,288     902  
Other comprehensive income (loss) (121)     (98)                 (98) (23)  
Adjustment to noncontrolling interests 0     (183)         (117)       (66) 183  
Ending balance (in shares) at Jun. 30, 2026           1,677,588                  
Ending balance at Jun. 30, 2026 $ 200,114     161,248   $ 2   $ 11 338,171 $ (7,112) (170,579)   755 38,866  
Ending balance (in shares) at Jun. 30, 2026     10,323,670         10,790,989              
Ending balance (in shares) at Jun. 30, 2026 (467,319)                 (467,319)          
Beginning balance (in shares) at Mar. 31, 2026           1,680,391                  
Beginning balance at Mar. 31, 2026 $ 197,709     159,310   $ 2   $ 11 337,624 $ (7,112) (172,080)   865 38,399  
Beginning balance (in shares) at Mar. 31, 2026               10,790,989              
Beginning balance (in shares) at Mar. 31, 2026                   (467,319)          
Increase (Decrease) in Stockholders' Equity                              
OP Units compensation expense 744     744         744            
Repurchase of preferred stock (in shares)           (2,803)                  
Repurchase of preferred stock (70)     (70)         (66)   (4)        
Dividends declared, preferred stock (773)     (773)             (773)        
Cash distributions declared, CS and non-controlling interests   $ (3,843)     $ (3,097)             $ (3,097)     $ (746)
Net income (loss) 6,485     5,375             5,375     1,110  
Other comprehensive income (loss) (138)     (112)                 (112) (26)  
Adjustment to noncontrolling interests 0     (129)         (131)       2 129  
Ending balance (in shares) at Jun. 30, 2026           1,677,588                  
Ending balance at Jun. 30, 2026 $ 200,114     $ 161,248   $ 2   $ 11 $ 338,171 $ (7,112) $ (170,579)   $ 755 $ 38,866  
Ending balance (in shares) at Jun. 30, 2026     10,323,670         10,790,989              
Ending balance (in shares) at Jun. 30, 2026 (467,319)                 (467,319)