CSRA Inc. (MDV) is a stock. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.
Understand CSRA Inc.: how it makes money
Modiv Inc. invests in single-tenant, income-producing real estate in the United States, generating money primarily from rental income under long-term net leases to tenants.
Cash generation is driven mainly by collecting contractual rents from single-tenant properties leased under long-term net leases, while longer-term returns depend on acquiring properties and the value of those properties.
Revenue by segment (latest quarter)| Rent | $0.0B |
| Other | $0.0B |
| Mgmt Fees | $0.0B |
Business quality (Solid): The company has a straightforward, rent-driven real estate thesis with explicit occupancy and rent-related operating metrics, but the latest quarter shows very small reported revenue alongside a 35.9% operating margin, which can make quarter-to-quarter signal harder to interpret.
Bull case
- Strong reported occupancy: Occupancy is reported at 100% (and portfolio occupancy after Clara vacancy is reported at 98%), supporting the core rent-collection model.
- Long-term net lease structure: Properties are leased to tenants under long-term net leases, which centers the profit engine on lease rent collections.
- Industrial concentration: Industrial properties are 80% of annualized base rent (with industrial properties in the portfolio at 39 count), aligning the portfolio with the stated property focus.
Bear case
- Debt and interest rate exposure: Leverage ratio is 45.1% and weighted average interest rate on indebtedness is 4.15%, which can make results sensitive to financing costs.
- Potential vacancy and tenant risk: Portfolio occupancy after Clara vacancy is reported at 98%, implying vacancies can occur even with the long-term net lease approach, and tenant issues could impact rental income.
- Revenue levels appear small in the latest quarter: Reported segment rental revenue is 0.01B while total revenue is shown as 0.0B, so interpreting short-term results may be less reliable on a reported-amount basis.
Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.