Modiv Industrial, Inc. (NYSE:MDV) Sees Large Drop in Short Interest

Modiv Industrial, Inc. (NYSE:MDV) was the recipient of a large decline in short interest in the month of January. As of January 15th, there was short interest totaling 214,143 shares, a decline of 19.3% from the December 31st total of 265,369 shares. Based on an average daily volume of 36,015 shares, the short-interest ratio is presently 5.9 days. Currently, 2.1% of the shares of the company are sold short. Currently, 2.1% of the shares of the company are sold short. Based on an average daily volume of 36,015 shares, the short-interest ratio is presently 5.9 days.

Analysts Set New Price Targets

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

Modiv Industrial Price Performance

NYSE MDV traded down $0.07 during mid-day trading on Wednesday, hitting $15.13. The stock had a trading volume of 33,575 shares, compared to its average volume of 36,251. The firm’s 50 day moving average is $14.72 and its 200 day moving average is $14.70. The stock has a market capitalization of $155.41 million, a price-to-earnings ratio of -58.20 and a beta of -0.31. Modiv Industrial has a twelve month low of $13.62 and a twelve month high of $17.15.

Modiv Industrial Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be given 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 dividend payout ratio (DPR) is presently -461.54%.

Institutional Investors Weigh In On Modiv Industrial

Hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets raised its stake in Modiv Industrial by 65.7% during the third quarter. BNP Paribas Financial Markets now owns 2,185 shares of the company’s stock worth $32,000 after purchasing an additional 866 shares during the period. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of Modiv Industrial during the 2nd quarter valued at approximately $30,000. Penserra Capital Management LLC lifted its holdings in Modiv Industrial by 3.5% in the third quarter. Penserra Capital Management LLC now owns 74,973 shares of the company’s stock valued at $1,097,000 after acquiring an additional 2,535 shares during the last quarter. Bank of America Corp DE grew its position in 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 worth $42,000 after acquiring an additional 2,935 shares during the period. Finally, JPMorgan Chase & Co. increased its stake 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 last quarter. Hedge funds and other institutional investors own 8.21% of the company’s stock.

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.