Modiv Industrial, Inc. (NYSE:MDV) Short Interest Update

Modiv Industrial, Inc. (NYSE:MDV) saw a large decrease in short interest during the month of February. As of February 13th, there was short interest totaling 238,759 shares, a decrease of 16.6% from the January 29th total of 286,280 shares. Based on an average daily volume of 37,969 shares, the days-to-cover ratio is currently 6.3 days. Approximately 2.4% of the company’s stock are sold short. Approximately 2.4% of the company’s stock are sold short. Based on an average daily volume of 37,969 shares, the days-to-cover ratio is currently 6.3 days.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Weiss Ratings upgraded Modiv Industrial from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, January 26th. Cantor Fitzgerald assumed coverage on shares of Modiv Industrial in a report on Wednesday, February 4th. They issued an “overweight” rating and a $18.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Modiv Industrial has an average rating of “Buy” and a consensus price target of $18.00.

Modiv Industrial Price Performance

Shares of MDV stock traded up $0.29 on Wednesday, reaching $15.25. 53,643 shares of the stock were exchanged, compared to its average volume of 43,111. The stock has a 50 day moving average price of $14.90 and a 200 day moving average price of $14.77. The stock has a market cap of $156.62 million, a PE ratio of -58.65 and a beta of -0.31. Modiv Industrial has a one year low of $13.62 and a one year high of $17.15.

Modiv Industrial Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be issued a dividend of $0.10 per share. The ex-dividend date is Tuesday, March 31st. This represents a c) dividend on an annualized basis and a yield of 7.9%. Modiv Industrial’s payout ratio is currently -461.54%.

Institutional Investors Weigh In On Modiv Industrial

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Police & Firemen s Retirement System of New Jersey acquired a new stake in Modiv Industrial in the 2nd quarter valued at about $30,000. BNP Paribas Financial Markets boosted its stake in Modiv Industrial by 65.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,185 shares of the company’s stock valued at $32,000 after purchasing an additional 866 shares during the period. Royal Bank of Canada grew its holdings in Modiv Industrial by 648.8% in the 4th quarter. Royal Bank of Canada now owns 2,209 shares of the company’s stock valued at $32,000 after buying an additional 1,914 shares in the last quarter. Bank of America Corp DE grew its stake in shares of Modiv Industrial by 3,913.3% in the second quarter. Bank of America Corp DE now owns 3,010 shares of the company’s stock valued at $42,000 after acquiring an additional 2,935 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in Modiv Industrial by 858.3% during the second quarter. JPMorgan Chase & Co. now owns 4,935 shares of the company’s stock worth $69,000 after acquiring an additional 4,420 shares during the period. 8.21% of the stock is currently owned by institutional investors and hedge funds.

Modiv Industrial Company Profile

Modiv Industrial, Inc (NYSE: MDV) is a publicly traded real estate investment trust that specializes in the acquisition, ownership and management of single-tenant industrial properties. The company’s portfolio is anchored by net-lease agreements with corporate and public sector tenants, providing stable, long-term cash flows. Modiv Industrial focuses on light manufacturing facilities, warehouse and distribution centers, and similar industrial real estate assets that serve as critical links in supply chains.

Modiv Industrial pursues a geographically diversified strategy, targeting properties in key U.S.