Modiv Industrial, Inc. (NYSE:MDV) Receives Consensus Recommendation of “Hold” from Brokerages

Modiv Industrial, Inc. (NYSE:MDV) has been given an average recommendation of “Hold” by the six brokerages that are presently covering the firm, MarketBeat.com reports. Six research analysts have rated the stock with a hold rating. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $18.50.

A number of analysts recently issued reports on MDV shares. Alliance Global Partners restated a “neutral” rating and issued a $19.00 price target (up from $18.00) on shares of Modiv Industrial in a research report on Thursday, May 7th. Freedom Capital downgraded shares of Modiv Industrial from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Lucid Cap Mkts downgraded shares of Modiv Industrial from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Wall Street Zen lowered shares of Modiv Industrial from a “hold” rating to a “sell” rating in a report on Sunday, May 10th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Modiv Industrial in a research note on Wednesday, July 15th.

Modiv Industrial Price Performance

NYSE:MDV opened at $17.62 on Wednesday. The firm has a market capitalization of $181.89 million, a price-to-earnings ratio of -42.99 and a beta of -0.07. Modiv Industrial has a 1 year low of $13.80 and a 1 year high of $18.96. The business has a 50 day simple moving average of $18.00 and a 200-day simple moving average of $16.31.

Modiv Industrial (NYSE:MDV) last announced its earnings results on Friday, May 8th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.12). The company had revenue of $11.70 million during the quarter, compared to analysts’ expectations of $11.43 million. Modiv Industrial had a return on equity of 0.07% and a net margin of 0.33%. As a group, analysts expect that Modiv Industrial will post 1.39 earnings per share for the current fiscal year.

Modiv Industrial Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, August 10th. Investors of record on Monday, August 3rd will be given a $0.10 dividend. This represents a c) dividend on an annualized basis and a yield of 6.8%. The ex-dividend date of this dividend is Monday, August 3rd. Modiv Industrial’s dividend payout ratio is -292.68%.

Insider Transactions at Modiv Industrial

In other news, CEO Aaron Scott Halfacre acquired 3,586 shares of the firm’s stock in a transaction on Tuesday, June 30th. The stock was acquired at an average price of $17.34 per share, with a total value of $62,181.24. Following the completion of the purchase, the chief executive officer directly owned 137,830 shares in the company, valued at approximately $2,389,972.20. This trade represents a 2.67% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Modiv Industrial

Several hedge funds and other institutional investors have recently modified their holdings of the business. Goldman Sachs Group Inc. lifted its stake in shares of Modiv Industrial by 38.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 34,557 shares of the company’s stock worth $555,000 after acquiring an additional 9,615 shares during the last quarter. Jane Street Group LLC increased its stake in Modiv Industrial by 129.2% in the first quarter. Jane Street Group LLC now owns 45,494 shares of the company’s stock worth $730,000 after purchasing an additional 25,645 shares during the period. Geode Capital Management LLC increased its stake in Modiv Industrial by 130.1% in the second quarter. Geode Capital Management LLC now owns 224,351 shares of the company’s stock worth $3,160,000 after purchasing an additional 126,850 shares during the period. JPMorgan Chase & Co. lifted its position in shares of 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 purchasing an additional 4,420 shares during the last quarter. Finally, Rhumbline Advisers bought a new stake in shares of Modiv Industrial during the second quarter worth $215,000. 8.21% of the stock is currently owned by hedge funds and other institutional investors.

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.