MDV
Modiv Industrial, Inc.
REIT - Industrial
Market Cap$181M
5Y Perf.+13.2%
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Stock Comparison
MDV vs IIPR
Revenue, margins, valuation, and 5-year total return — side by side.
IIPR
Innovative Industrial Properties, Inc.
REIT - Industrial
Market Cap$1.65B
5Y Perf.-70.0%
MDV vs IIPR — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | MDV | IIPR |
|---|---|---|
| Industry | REIT - Industrial | REIT - Industrial |
| Market Cap | $181M | $1.65B |
| Revenue (TTM) | $46M | $263M |
| Net Income (TTM) | $1M | $120M |
| Gross Margin | 27.5% | 60.3% |
| Operating Margin | 34.3% | 46.7% |
| Forward P/E | 209.1x | 13.2x |
| Total Debt | $269M | $394M |
| Cash & Equiv. | $14M | $48M |
MDV vs IIPR — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
MDV
IIPR
| Stock | Feb 22 | May 26 | Return |
|---|---|---|---|
| Modiv Industrial, I… (MDV) | 100 | 113.2 | +13.2% |
| Innovative Industri… (IIPR) | 100 | 30.0 | -70.0% |
Price return only. Dividends and distributions are not included.
Quick Verdict: MDV vs IIPR
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: IIPR leads in 4 of 7 categories, making it the strongest pick for valuation and capital efficiency and profitability and margin quality. Modiv Industrial, Inc. is the stronger pick specifically for growth and revenue expansion and capital preservation and lower volatility. As sector peers, any of these can serve as alternatives in the same allocation.
MDV
Modiv Industrial, Inc.
The Real Estate Income Play
MDV is the clearest fit if your priority is growth exposure and sleep-well-at-night.
- Rev growth -0.8%, EPS growth -247.6%, 3Y rev CAGR 1.9%
- Lower volatility, beta 0.57, current ratio 53.46x
- Beta 0.57, yield 1.6%, current ratio 53.46x
Best for: growth exposure and sleep-well-at-night
IIPR
Innovative Industrial Properties, Inc.
The Real Estate Income Play
IIPR carries the broadest edge in this set and is the clearest fit for income & stability and long-term compounding.
- Dividend streak 9 yrs, beta 0.92, yield 13.2%
- 442.0% 10Y total return vs MDV's -64.5%
- Lower P/E (13.2x vs 209.1x)
Best for: income & stability and long-term compounding
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | MDV | -0.8% FFO/revenue growth vs IIPR's -13.8% |
| Value | IIPR | Lower P/E (13.2x vs 209.1x) |
| Quality / Margins | IIPR | 45.6% margin vs MDV's 2.3% |
| Stability / Safety | MDV | Beta 0.57 vs IIPR's 0.92 |
| Dividends | IIPR | 13.2% yield, 9-year raise streak, vs MDV's 1.6% |
| Momentum (1Y) | MDV | +28.3% vs IIPR's +23.2% |
| Efficiency (ROA) | IIPR | 5.1% ROA vs MDV's 0.2%, ROIC 4.3% vs 2.5% |
MDV vs IIPR — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLIIPRLAGGINGMDV
MDVModiv Industrial, Inc.
2leads
IIPRInnovative Industrial…
4leads
6 Total Categories
CATEGORYLEADERvs MDVMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
IIPR6/6
Valuation MetricsMultiples, price ratios, and targets
IIPR4/6
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
IIPR6/9
Total Returns1Y, 3Y, 5Y total returns with dividends
MDV4/6
Risk & VolatilityBeta, volatility, and downside exposure
MDV2/2
Analyst OutlookRatings, price targets, and dividends
IIPR2/2
Income & Cash Flow (Last 12 Months)
IIPR leads this category, winning 6 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
IIPR is the larger business by revenue, generating $263M annually — 5.7x MDV's $46M. IIPR is the more profitable business, keeping 45.6% of every revenue dollar as net income compared to MDV's 2.3%. On growth, IIPR holds the edge at -3.8% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | MDVModiv Industrial,… | IIPRInnovative Indust… |
|---|---|---|
| RevenueTrailing 12 months | $46M | $263M |
| EBITDAEarnings before interest/tax | $31M | $197M |
| Net IncomeAfter-tax profit | $1M | $120M |
| Free Cash FlowCash after capex | $15M | $144M |
| Gross MarginGross profit ÷ Revenue | +27.5% | +60.3% |
| Operating MarginEBIT ÷ Revenue | +34.3% | +46.7% |
| Net MarginNet income ÷ Revenue | +2.3% | +45.6% |
| FCF MarginFCF ÷ Revenue | +31.5% | +54.7% |
| Rev. Growth (YoY)Latest quarter vs prior year | -9.3% | -3.8% |
| EPS Growth (YoY)Latest quarter vs prior year | -69.0% | -1.0% |
IIPR leads this category, winning 6 of 6 comparable metrics.
Valuation Metrics
IIPR leads this category, winning 4 of 6 comparable metrics.
Valuation Metrics
On an enterprise value basis, IIPR's 10.1x EV/EBITDA is more attractive than MDV's 14.0x.
| Metric | MDVModiv Industrial,… | IIPRInnovative Indust… |
|---|---|---|
| Market CapShares × price | $181M | $1.6B |
| Enterprise ValueMkt cap + debt − cash | $435M | $2.0B |
| Trailing P/EPrice ÷ TTM EPS | -56.52x | 14.68x |
| Forward P/EPrice ÷ next-FY EPS est. | 209.12x | 13.17x |
| PEG RatioP/E ÷ EPS growth rate | — | 3.92x |
| EV / EBITDAEnterprise value multiple | 14.03x | 10.06x |
| Price / SalesMarket cap ÷ Revenue | 3.90x | 6.20x |
| Price / BookPrice ÷ Book value/share | 1.01x | 0.89x |
| Price / FCFMarket cap ÷ FCF | 12.51x | 9.43x |
IIPR leads this category, winning 4 of 6 comparable metrics.
Profitability & Efficiency
IIPR leads this category, winning 6 of 9 comparable metrics.
Profitability & Efficiency
IIPR delivers a 6.4% return on equity — every $100 of shareholder capital generates $6 in annual profit, vs $1 for MDV. IIPR carries lower financial leverage with a 0.21x debt-to-equity ratio, signaling a more conservative balance sheet compared to MDV's 1.33x. On the Piotroski fundamental quality scale (0–9), MDV scores 5/9 vs IIPR's 4/9, reflecting solid financial health.
| Metric | MDVModiv Industrial,… | IIPRInnovative Indust… |
|---|---|---|
| ROE (TTM)Return on equity | +0.5% | +6.4% |
| ROA (TTM)Return on assets | +0.2% | +5.1% |
| ROICReturn on invested capital | +2.5% | +4.3% |
| ROCEReturn on capital employed | +4.4% | +5.8% |
| Piotroski ScoreFundamental quality 0–9 | 5 | 4 |
| Debt / EquityFinancial leverage | 1.33x | 0.21x |
| Net DebtTotal debt minus cash | $254M | $346M |
| Cash & Equiv.Liquid assets | $14M | $48M |
| Total DebtShort + long-term debt | $269M | $394M |
| Interest CoverageEBIT ÷ Interest expense | 1.03x | 6.67x |
IIPR leads this category, winning 6 of 9 comparable metrics.
Total Returns (Dividends Reinvested)
MDV leads this category, winning 4 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in IIPR five years ago would be worth $5,182 today (with dividends reinvested), compared to $3,550 for MDV. Over the past 12 months, MDV leads with a +28.3% total return vs IIPR's +23.2%. The 3-year compound annual growth rate (CAGR) favors MDV at 21.8% vs IIPR's 5.0% — a key indicator of consistent wealth creation.
| Metric | MDVModiv Industrial,… | IIPRInnovative Indust… |
|---|---|---|
| YTD ReturnYear-to-date | +24.4% | +20.5% |
| 1-Year ReturnPast 12 months | +28.3% | +23.2% |
| 3-Year ReturnCumulative with dividends | +80.8% | +15.7% |
| 5-Year ReturnCumulative with dividends | -64.5% | -48.2% |
| 10-Year ReturnCumulative with dividends | -64.5% | +442.0% |
| CAGR (3Y)Annualised 3-year return | +21.8% | +5.0% |
MDV leads this category, winning 4 of 6 comparable metrics.
Risk & Volatility
MDV leads this category, winning 2 of 2 comparable metrics.
Risk & Volatility
MDV is the less volatile stock with a 0.57 beta — it tends to amplify market swings less than IIPR's 0.92 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. MDV currently trades 97.1% from its 52-week high vs IIPR's 94.0% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | MDVModiv Industrial,… | IIPRInnovative Indust… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.57x | 0.92x |
| 52-Week HighHighest price in past year | $18.05 | $61.40 |
| 52-Week LowLowest price in past year | $13.97 | $44.58 |
| % of 52W HighCurrent price vs 52-week peak | +97.1% | +94.0% |
| RSI (14)Momentum oscillator 0–100 | 78.9 | 67.2 |
| Avg Volume (50D)Average daily shares traded | 73K | 309K |
MDV leads this category, winning 2 of 2 comparable metrics.
Analyst Outlook
IIPR leads this category, winning 2 of 2 comparable metrics.
Analyst Outlook
Wall Street rates MDV as "Buy" and IIPR as "Hold". Consensus price targets imply 2.7% upside for MDV (target: $18) vs -23.7% for IIPR (target: $44). For income investors, IIPR offers the higher dividend yield at 13.21% vs MDV's 1.63%.
| Metric | MDVModiv Industrial,… | IIPRInnovative Indust… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Hold |
| Price TargetConsensus 12-month target | $18.00 | $44.00 |
| # AnalystsCovering analysts | 7 | 11 |
| Dividend YieldAnnual dividend ÷ price | +1.6% | +13.2% |
| Dividend StreakConsecutive years of raises | 0 | 9 |
| Dividend / ShareAnnual DPS | $0.29 | $7.62 |
| Buyback YieldShare repurchases ÷ mkt cap | +3.9% | +1.2% |
IIPR leads this category, winning 2 of 2 comparable metrics.
Key Takeaway
IIPR leads in 4 of 6 categories (Income & Cash Flow, Valuation Metrics). MDV leads in 2 (Total Returns, Risk & Volatility).
Best OverallInnovative Industrial Prope… (IIPR)Leads 4 of 6 categories
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MDV vs IIPR: Frequently Asked Questions
10 questions · data-driven answers · updated daily
01Is MDV or IIPR a better buy right now?
For growth investors, Modiv Industrial, Inc.
(MDV) is the stronger pick with -0. 8% revenue growth year-over-year, versus -13. 8% for Innovative Industrial Properties, Inc. (IIPR). Innovative Industrial Properties, Inc. (IIPR) offers the better valuation at 14. 7x trailing P/E (13. 2x forward), making it the more compelling value choice. Analysts rate Modiv Industrial, Inc. (MDV) a "Buy" — based on 7 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — MDV or IIPR?
On forward P/E, Innovative Industrial Properties, Inc.
is actually cheaper at 13. 2x.
03Which is the better long-term investment — MDV or IIPR?
Over the past 5 years, Innovative Industrial Properties, Inc.
(IIPR) delivered a total return of -48. 2%, compared to -64. 5% for Modiv Industrial, Inc. (MDV). Over 10 years, the gap is even starker: IIPR returned +436. 4% versus MDV's -64. 1%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — MDV or IIPR?
By beta (market sensitivity over 5 years), Modiv Industrial, Inc.
(MDV) is the lower-risk stock at 0. 57β versus Innovative Industrial Properties, Inc. 's 0. 92β — meaning IIPR is approximately 60% more volatile than MDV relative to the S&P 500. On balance sheet safety, Innovative Industrial Properties, Inc. (IIPR) carries a lower debt/equity ratio of 21% versus 133% for Modiv Industrial, Inc. — giving it more financial flexibility in a downturn.
05Which is growing faster — MDV or IIPR?
By revenue growth (latest reported year), Modiv Industrial, Inc.
(MDV) is pulling ahead at -0. 8% versus -13. 8% for Innovative Industrial Properties, Inc. (IIPR). On earnings-per-share growth, the picture is similar: Innovative Industrial Properties, Inc. grew EPS -28. 8% year-over-year, compared to -247. 6% for Modiv Industrial, Inc.. Over a 3-year CAGR, MDV leads at 1. 9% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — MDV or IIPR?
Innovative Industrial Properties, Inc.
(IIPR) is the more profitable company, earning 43. 0% net margin versus 2. 3% for Modiv Industrial, Inc. — meaning it keeps 43. 0% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: IIPR leads at 46. 7% versus 34. 3% for MDV. At the gross margin level — before operating expenses — IIPR leads at 88. 7%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
07Is MDV or IIPR more undervalued right now?
On forward earnings alone, Innovative Industrial Properties, Inc.
(IIPR) trades at 13. 2x forward P/E versus 209. 1x for Modiv Industrial, Inc. — 196. 0x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for MDV: 2. 7% to $18. 00.
08Which pays a better dividend — MDV or IIPR?
All stocks in this comparison pay dividends.
Innovative Industrial Properties, Inc. (IIPR) offers the highest yield at 13. 2%, versus 1. 6% for Modiv Industrial, Inc. (MDV).
09Is MDV or IIPR better for a retirement portfolio?
For long-horizon retirement investors, Innovative Industrial Properties, Inc.
(IIPR) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0. 92), 13. 2% yield, +436. 4% 10Y return). Both have compounded well over 10 years (IIPR: +436. 4%, MDV: -64. 1%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
10What are the main differences between MDV and IIPR?
Both stocks operate in the Real Estate sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.
In terms of investment character: MDV is a small-cap quality compounder stock; IIPR is a small-cap deep-value stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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%
(MDV: -9.3% · IIPR: -3.8%)Net Margin>
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