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

Modiv Industrial, Inc. (NYSE:MDV) has earned an average rating of “Hold” from the six research firms that are covering the firm, MarketBeat reports. Six equities research analysts have rated the stock with a hold rating. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $18.50.

A number of equities analysts have recently issued reports on MDV shares. Wall Street Zen downgraded Modiv Industrial from a “hold” rating to a “sell” rating in a research note on Sunday, May 10th. Lucid Cap Mkts cut Modiv Industrial from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Weiss Ratings upgraded Modiv Industrial from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday. Zacks Research raised shares of Modiv Industrial from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 23rd. Finally, Alliance Global Partners reiterated a “neutral” rating and issued a $19.00 price objective (up from $18.00) on shares of Modiv Industrial in a research note on Thursday, May 7th.

Modiv Industrial Price Performance

Shares of Modiv Industrial stock opened at $18.05 on Friday. The company has a market cap of $186.35 million, a price-to-earnings ratio of 50.14 and a beta of -0.07. The company’s 50 day moving average is $17.85 and its 200 day moving average is $16.57. Modiv Industrial has a twelve month low of $13.80 and a twelve month high of $18.96.

Modiv Industrial (NYSE:MDV) last posted its earnings results on Tuesday, August 11th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.42. The business had revenue of $11.69 million during the quarter, compared to the consensus estimate of $11.57 million. Modiv Industrial had a net margin of 16.35% and a return on equity of 3.75%. Sell-side analysts expect that Modiv Industrial will post 1.39 EPS for the current fiscal year.

Modiv Industrial Announces Dividend

The company also recently announced a monthly dividend, which was paid on Monday, August 10th. Investors of record on Monday, August 3rd were paid a dividend of $0.10 per share. The ex-dividend date was Monday, August 3rd. This represents a c) dividend on an annualized basis and a dividend yield of 6.6%. Modiv Industrial’s payout ratio is 333.33%.

Insider Buying and Selling

In related news, CEO Aaron Scott Halfacre bought 5,766 shares of the stock in a transaction dated Friday, June 26th. The shares were purchased at an average price of $17.49 per share, with a total value of $100,847.34. Following the completion of the acquisition, the chief executive officer owned 134,245 shares of the company’s stock, valued at $2,347,945.05. This represents a 4.49% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On Modiv Industrial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its holdings in shares of Modiv Industrial by 130.1% in the second quarter. Geode Capital Management LLC now owns 224,351 shares of the company’s stock valued at $3,160,000 after purchasing an additional 126,850 shares in the last quarter. Meixler Investment Management Ltd. purchased a new stake in shares of Modiv Industrial in the fourth quarter valued at $1,023,000. North Star Investment Management Corp. purchased a new stake in shares of Modiv Industrial in the first quarter valued at $859,000. Two Sigma Investments LP purchased a new position in shares of Modiv Industrial during the 3rd quarter worth about $824,000. Finally, Jane Street Group LLC boosted its holdings in Modiv Industrial by 129.2% during the 1st quarter. Jane Street Group LLC now owns 45,494 shares of the company’s stock valued at $730,000 after acquiring an additional 25,645 shares during the period. 8.21% of the stock is owned by institutional investors.

About Modiv Industrial

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.