This company has been acquired
Modiv Industrial Management
Management criteria checks 3/4
Modiv Industrial's CEO is Aaron Halfacre, appointed in Jan 2019, has a tenure of 7.58 years. total yearly compensation is $8.25M, comprised of 1% salary and 99% bonuses, including company stock and options. directly owns 6.63% of the company’s shares, worth $14.26M. The average tenure of the management team and the board of directors is 5.9 years and 4.7 years respectively.
Key information
Aaron Halfacre
Chief executive officer
US$8.2m
Total compensation
| CEO salary percentage | 1.03% |
| CEO tenure | 7.6yrs |
| CEO ownership | 6.6% |
| Management average tenure | 5.9yrs |
| Board average tenure | 4.7yrs |
Recent management updates
Recent updates
Modiv Industrial: Downgrading The Preferred Stock To A 'Hold'
Summary Modiv Industrial is being acquired by Global Net Lease in an all-stock deal, offering fair value to MDV shareholders. I exited my MDV common shares post-announcement, preferring not to hold GNL stock, but retained my MDV preferred shares. MDV.PR.A preferred holders stand to receive $25 plus accrued dividends upon deal closure, with limited downside risk if the deal fails. I rate the preferred stock a "hold" only considering additional purchases below the $25 principal amid the pending acquisition. Read the full article on Seeking AlphaAnalysts Have Been Trimming Their Modiv Industrial, Inc. (NYSE:MDV) Price Target After Its Latest Report
It's been a mediocre week for Modiv Industrial, Inc. ( NYSE:MDV ) shareholders, with the stock dropping 11% to US$14.62...Modiv Industrial Sits In The Crosshairs Of Tariffs
Summary Modiv Industrial faces significant risks due to its sale leaseback business model and exposure to economic changes, earning it a Hold rating. The potential end of the CHIPS Act and introduction of tariffs by President Trump could severely impact MDV's tenants and overall business model. MDV's portfolio consists of 43 properties, primarily industrial, with significant exposure to California and the infrastructure sector. Despite recent share price declines making MDV more attractive, macroeconomic disruptions and uncertain US manufacturing outlook increase investment risks. Read the full article on Seeking Alpha
Patient Acquisitions And Cost Cuts Will Yield Mixed REIT Prospects
Modiv Industrial's strategic acquisitions and property expansion plans signal potential growth in revenue and earnings once market conditions improve.Modiv Industrial: Too Risky Despite The Potential
Summary Modiv Industrial is transitioning from a diversified REIT to a pure-play industrial REIT, focusing on U.S. manufacturing properties. The company faces high risk due to its small portfolio, geographic concentration, and elevated leverage. Despite a forward dividend yield of 7.85%, Modiv's high payout ratio and volatile AFFO make the dividend less secure. Valuation models suggest Modiv trades at a discount, but inconsistent AFFO growth and high leverage warrant a "hold" rating. Read the full article on Seeking AlphaModiv Industrial: Solid Q3 Earnings And Dividend Bumped, But Still Not Buying
Summary REITs vary in strategies; for instance, Realty Income Corporation is globally diversified, while Rexford Industrial Realty, Inc. focuses on Southern California industrial assets. Modiv Industrial specializes in single-tenant manufacturing properties, emphasizing “Made in America” and onshoring, but faces concentration and business risks. Modiv's sale leaseback strategy involves high-risk bets on tenants' creditworthiness and may overpay for low-quality assets, raising concerns about sustainability. Despite MDV's efforts to diversify and increase dividends, its portfolio's long-term risks and assets justify a Sell rating. Read the full article on Seeking AlphaCEO Compensation Analysis
| Date | Total Compensation | Salary | Company Earnings |
|---|---|---|---|
| Jun 30 2026 | n/a | n/a | US$4m |
| Mar 31 2026 | n/a | n/a | -US$4m |
| Dec 31 2025 | US$8m | US$85k | -US$3m |
| Sep 30 2025 | n/a | n/a | -US$3m |
| Jun 30 2025 | n/a | n/a | -US$4m |
| Mar 31 2025 | n/a | n/a | -US$604k |
| Dec 31 2024 | US$387k | US$250k | US$2m |
| Sep 30 2024 | n/a | n/a | -US$585k |
| Jun 30 2024 | n/a | n/a | -US$5m |
| Mar 31 2024 | n/a | n/a | -US$3m |
| Dec 31 2023 | US$371k | US$250k | -US$10m |
| Sep 30 2023 | n/a | n/a | -US$8m |
| Jun 30 2023 | n/a | n/a | US$1m |
| Mar 31 2023 | n/a | n/a | -US$594k |
| Dec 31 2022 | US$266k | US$250k | -US$7m |
| Sep 30 2022 | n/a | n/a | -US$10m |
| Jun 30 2022 | n/a | n/a | -US$9m |
| Mar 31 2022 | n/a | n/a | -US$12m |
| Dec 31 2021 | US$3m | US$250k | -US$2m |
| Sep 30 2021 | n/a | n/a | US$5m |
| Jun 30 2021 | n/a | n/a | -US$14k |
| Mar 31 2021 | n/a | n/a | -US$1m |
| Dec 31 2020 | US$1m | US$112k | -US$49m |
Compensation vs Market: Aaron's total compensation ($USD8.25M) is above average for companies of similar size in the US market ($USD1.56M).
Compensation vs Earnings: Aaron's compensation has been consistent with company performance over the past year.
CEO
Aaron Halfacre (53 yo)
Mr. Aaron Scott Halfacre, CFA(R), has been the Chief Executive Officer and Director at Modiv Acquisition Corp. since January 15, 2021. Mr. Halfacre has been President, Chief Executive Officer and Director...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 7.6yrs | US$8.25m | 6.63% $ 14.3m | |
| General Counsel | 5.9yrs | US$2.84m | 1.6% $ 3.4m | |
| Executive Vice President | no data | US$1.39m | 1.75% $ 3.8m | |
| Chief Investment Officer | 5.9yrs | no data | no data | |
| Chief Accounting Officer | 1.4yrs | no data | no data | |
| Head of Asset Management | no data | no data | no data |
Experienced Management: MDV's management team is seasoned and experienced (5.9 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 7.6yrs | US$8.25m | 6.63% $ 14.3m | |
| Independent Chairman of the Board | 7.6yrs | US$160.00k | 0.29% $ 627.5k | |
| Independent Director | 4.7yrs | US$140.00k | 0.18% $ 382.7k | |
| Independent Director | 4.7yrs | US$120.00k | 0.15% $ 316.2k | |
| Independent Director | 1.9yrs | US$120.00k | 0.13% $ 269.6k |
Experienced Board: MDV's board of directors are considered experienced (4.7 years average tenure).
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/08/13 21:23 |
| End of Day Share Price | 2026/08/11 00:00 |
| Earnings | 2026/06/30 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
| |
| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
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Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Modiv Industrial, Inc. is covered by 8 analysts. 6 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Gaurav Mehta | Alliance Global Partners |
| John Massocca | B. Riley Securities, Inc. |
| Jay Kornreich | Cantor Fitzgerald & Co. |