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Condensed Consolidated Statements of Equity - USD ($)
Total
Class C common stock
Class C OP Units
Total Modiv Industrial, Inc. Equity
Preferred Stock
Common Stock
Class C common stock
Additional Paid-in Capital
Treasury Stock
Cumulative Distributions and Net (Losses) Income
Accumulated Other Comprehensive Income (Loss)
Noncontrolling Interests in the Operating Partnership
Noncontrolling Interests in the Operating Partnership
Class C OP Units
Beginning balance (in shares) at Dec. 31, 2021         2,000,000              
Beginning balance at Dec. 31, 2021 $ 222,429,892     $ 171,826,892 $ 2,000 $ 7,491 $ 273,441,831 $ 0 $ (101,624,430)   $ 50,603,000  
Beginning balance (in shares) at Dec. 31, 2021           7,490,404            
Beginning balance (in shares) at Dec. 31, 2021               0        
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Issuance of common stock -distribution reinvestments (in shares)           108,989            
Issuance of common stock -distribution reinvestments 2,203,627   $ 32,809,551 2,203,627   $ 109 2,203,518         $ 32,809,551
Listed offering of common stock, net (in shares)           40,000            
Listed offering of common stock, net 114,500     114,500   $ 40 114,460          
Stock compensation expense (in shares)           4,599            
Stock compensation expense 82,500     82,500   $ 4 82,496          
OP Units compensation expense 1,026,612     1,026,612     1,026,612          
Offering costs (946,690)     (946,690)     (946,690)          
Repurchase of common stock (in shares)               (187,430)        
Repurchase of common stock (3,253,902)     (3,253,902)       $ (3,253,902)        
Dividends declared, preferred stock (1,843,750)     (1,843,750)         (1,843,750)      
Distributions declared, common stock (5,049,197)     (5,049,197)         (5,049,197)      
Distributions declared, Class C OP Units     (754,606)                 (754,605)
Net income (loss) (9,682,820)     (7,974,005)         (7,974,005)   (1,708,815)  
Ending balance (in shares) at Jun. 30, 2022         2,000,000              
Ending balance at Jun. 30, 2022 237,135,718     156,186,587 $ 2,000 $ 7,644 275,922,227 $ (3,253,902) (116,491,382)   80,949,131  
Ending balance (in shares) at Jun. 30, 2022           7,643,992            
Ending balance (in shares) at Jun. 30, 2022               (187,430)        
Beginning balance (in shares) at Mar. 31, 2022         2,000,000              
Beginning balance at Mar. 31, 2022 240,036,609     158,929,396 $ 2,000 $ 7,601 275,371,078 $ (852,721) (115,598,562)   81,107,213  
Beginning balance (in shares) at Mar. 31, 2022           7,601,081            
Beginning balance (in shares) at Mar. 31, 2022               (50,863)        
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Issuance of common stock -distribution reinvestments (in shares)           42,911            
Issuance of common stock -distribution reinvestments 711,223     711,223   $ 43 711,180          
OP Units compensation expense 597,247     597,247     597,247          
Offering costs (757,278)     (757,278)     (757,278)          
Repurchase of common stock (in shares)               (136,567)        
Repurchase of common stock (2,401,181)     (2,401,181)       $ (2,401,181)        
Dividends declared, preferred stock (921,875)     (921,875)         (921,875)      
Distributions declared, common stock (2,142,075)     (2,142,075)         (2,142,075)      
Distributions declared, Class C OP Units     (377,296)                 (377,296)
Net income (loss) 2,390,344     2,171,130         2,171,130   219,214  
Ending balance (in shares) at Jun. 30, 2022         2,000,000              
Ending balance at Jun. 30, 2022 237,135,718     156,186,587 $ 2,000 $ 7,644 275,922,227 $ (3,253,902) (116,491,382)   80,949,131  
Ending balance (in shares) at Jun. 30, 2022           7,643,992            
Ending balance (in shares) at Jun. 30, 2022               (187,430)        
Beginning balance (in shares) at Dec. 31, 2022         2,000,000              
Beginning balance at Dec. 31, 2022 $ 241,033,960     159,750,904 $ 2,000 $ 7,762 278,339,020 $ (4,161,618) (117,938,876) $ 3,502,616 81,283,056  
Beginning balance (in shares) at Dec. 31, 2022   7,512,353       7,762,506            
Beginning balance (in shares) at Dec. 31, 2022 (250,153)             (250,153)        
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Issuance of common stock -distribution reinvestments (in shares)           98,735            
Issuance of common stock -distribution reinvestments $ 1,156,199   5,175,285 1,156,199   $ 99 1,156,100         5,175,285
Stock compensation expense (in shares)           13,261            
Stock compensation expense 165,000     165,000   $ 14 164,986          
OP Units compensation expense 1,155,339     1,155,339     1,155,339          
Repurchase of common stock (in shares)               (93,357)        
Repurchase of common stock (1,129,162)     (1,129,162)       $ (1,129,162)        
Dividends declared, preferred stock (1,843,750)     (1,843,750)         (1,843,750)      
Distributions declared, common stock (4,329,990)     (4,329,990)         (4,329,990)      
Distributions declared, Class C OP Units     (837,252)                 (837,252)
Net income (loss) 51,032     217,588         217,588   (166,556)  
Amortization of unrealized holding gain on interest rate swap (503,404)     (421,922)           (421,922) (81,482)  
Ending balance (in shares) at Jun. 30, 2023         2,000,000              
Ending balance at Jun. 30, 2023 $ 240,093,257     154,720,206 $ 2,000 $ 7,875 280,815,445 $ (5,290,780) (123,895,028) 3,080,694 85,373,051  
Ending balance (in shares) at Jun. 30, 2023   7,530,992       7,874,502            
Ending balance (in shares) at Jun. 30, 2023 (343,510)             (343,510)        
Beginning balance (in shares) at Mar. 31, 2023         2,000,000              
Beginning balance at Mar. 31, 2023 $ 233,915,941     153,863,522 $ 2,000 $ 7,823 279,565,984 $ (4,211,300) (124,790,431) 3,289,446 80,052,419  
Beginning balance (in shares) at Mar. 31, 2023           7,822,940            
Beginning balance (in shares) at Mar. 31, 2023               (254,618)        
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Issuance of common stock -distribution reinvestments (in shares)           46,062            
Issuance of common stock -distribution reinvestments 589,343   5,175,285 589,343   $ 46 589,297         5,175,285
Stock compensation expense (in shares)           5,500            
Stock compensation expense 82,500     82,500   $ 6 82,494          
OP Units compensation expense 577,670     577,670     577,670          
Repurchase of common stock (in shares)               (88,892)        
Repurchase of common stock (1,079,480)     (1,079,480)       $ (1,079,480)        
Dividends declared, preferred stock (921,875)     (921,875)         (921,875)      
Distributions declared, common stock (2,163,032)     (2,163,032)         (2,163,032)      
Distributions declared, Class C OP Units     $ (459,955)                 $ (459,955)
Net income (loss) 4,629,953     3,980,310         3,980,310   649,643  
Amortization of unrealized holding gain on interest rate swap (253,093)     (208,752)           (208,752) (44,341)  
Ending balance (in shares) at Jun. 30, 2023         2,000,000              
Ending balance at Jun. 30, 2023 $ 240,093,257     $ 154,720,206 $ 2,000 $ 7,875 $ 280,815,445 $ (5,290,780) $ (123,895,028) $ 3,080,694 $ 85,373,051  
Ending balance (in shares) at Jun. 30, 2023   7,530,992       7,874,502            
Ending balance (in shares) at Jun. 30, 2023 (343,510)             (343,510)