Modiv Inc. (NYSE:MDV) Q3 2023 Earnings Call Transcript

Ray Pacini: Well, I think you need to take into account the cash derivative settlements. That’s basically the cash that’s coming in on the swaps. So the way I think of it is our average interest rate is 4.52, 4.53 on a total of $284 million. Yes, that’s an economic rate. Yes, so you take the 4.52 on the 4.84. That’s kind of your economic run rate because the mortgages are amortizing too so.

Rob Stevenson: All right. And then last one for me just to clear the OP units were not being included in FFO per share, but are being included in AFFO per share this quarter because of the end of dilutive?

Ray Pacini: Correct.

Operator: And we have reached the end of the question and answer session. I’ll now turn the call back over to Aaron Halfacre for closed remarks.

Aaron Halfacre: Everyone, thank you for listening, joining in. We appreciate your attention. We appreciate your investment. And for those that I see you tomorrow and Wednesday at NAREIT, I look forward to talking to you. Until then, we’ll talk to you again when we come out with fourth quarter results. Thanks.

Operator: And this concludes today’s conference. And you may disconnect your line at this time. Thank you for your participation.