Modiv Q1 FFO At $1.55 Mln; Revenue Up, But Misses Estimates

(RTTNews) - Modiv Inc. (MDV), a real estate investment trust, Monday reported funds from operations for the first quarter that was helped by higher rental income. Revenue showed an increase of 7.7%, but missed the Street estimates.

Funds from operations were reported at $1.55 million, or $0.15 FFO per share compared to a loss of $16.30 million, or $2.16 loss per share for the same period of last year.

Adjusted Funds from operations increased to $3.11 million or $0.30 FFO per share compared to $2.97 million or $0.29 FFO per share for the same period of last year.

Revenue increased to $10.31 million from $9.56 million for the same period of last year.

3 analysts polled by Thomson-Reuters expected the company to report a revenue of $10.7 million for the quarter. Consensus estimates typically exclude one-time items.

Friday, during the trading hours, shares of Modiv closed at $13.18 down 1.93% or 0.26 cents.