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

Modiv Industrial, Inc. (NYSE:MDV) was the recipient of a large drop in short interest in the month of March. As of March 13th, there was short interest totaling 205,871 shares, a drop of 18.4% from the February 26th total of 252,243 shares. Based on an average trading volume of 54,751 shares, the days-to-cover ratio is presently 3.8 days. Currently, 2.1% of the shares of the stock are sold short.

Modiv Industrial Price Performance

NYSE MDV traded up $0.28 during mid-day trading on Wednesday, hitting $14.60. The stock had a trading volume of 87,542 shares, compared to its average volume of 50,235. The firm’s 50 day moving average is $14.93 and its 200 day moving average is $14.71. Modiv Industrial has a twelve month low of $13.62 and a twelve month high of $17.15. The stock has a market capitalization of $150.67 million, a price-to-earnings ratio of -47.10 and a beta of -0.31.

Modiv Industrial (NYSE:MDV) last announced its earnings results on Wednesday, March 25th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.33). Modiv Industrial had a return on equity of 0.52% and a net margin of 2.30%.The business had revenue of $11.07 million for the quarter, compared to analyst estimates of $11.38 million. As a group, equities research analysts expect that Modiv Industrial will post 1.18 earnings per share for the current year.

Modiv Industrial Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a dividend of $0.10 per share. This represents a c) annualized dividend and a yield of 8.2%. The ex-dividend date of this dividend is Tuesday, June 30th. Modiv Industrial’s dividend payout ratio is currently -387.10%.

Institutional Trading of Modiv Industrial

A number of hedge funds have recently bought and sold shares of the business. Police & Firemen s Retirement System of New Jersey acquired a new position in shares of Modiv Industrial during the 2nd quarter worth approximately $30,000. Royal Bank of Canada lifted its position in Modiv Industrial by 648.8% during the fourth quarter. Royal Bank of Canada now owns 2,209 shares of the company’s stock worth $32,000 after buying an additional 1,914 shares in the last quarter. BNP Paribas Financial Markets lifted its position 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 buying an additional 866 shares in the last quarter. Bank of America Corp DE boosted its stake in Modiv Industrial by 3,913.3% during the second quarter. Bank of America Corp DE now owns 3,010 shares of the company’s stock worth $42,000 after buying an additional 2,935 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Modiv Industrial by 858.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 4,935 shares of the company’s stock valued at $69,000 after buying an additional 4,420 shares in the last quarter. Institutional investors and hedge funds own 8.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. 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. Wall Street Zen downgraded shares of Modiv Industrial from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Cantor Fitzgerald assumed coverage on shares of Modiv Industrial in a research note on Wednesday, February 4th. They issued an “overweight” rating and a $18.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Modiv Industrial has a consensus rating of “Buy” and a consensus target price of $18.00.

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.