Modiv Industrial (NYSE:MDV) Cut to Hold at Alliance Global Partners

Modiv Industrial (NYSE:MDV) was downgraded by equities research analysts at Alliance Global Partners from a “strong-buy” rating to a “hold” rating in a research note issued on Wednesday,Zacks.com reports.

Other research analysts have also issued research reports about the stock. Weiss Ratings upgraded shares of Modiv Industrial from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, January 26th. Freedom Capital lowered shares of Modiv Industrial from a “strong-buy” rating to a “hold” rating in a research note on Monday. Wall Street Zen raised shares of Modiv Industrial from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Finally, Cantor Fitzgerald downgraded shares of Modiv Industrial from a “strong-buy” rating to a “hold” rating in a report on Monday. Five equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $18.50.

Modiv Industrial Trading Up 1.6%

Shares of Modiv Industrial stock opened at $17.80 on Wednesday. Modiv Industrial has a 12-month low of $13.80 and a 12-month high of $18.05. The firm has a market capitalization of $183.67 million, a price-to-earnings ratio of -57.41 and a beta of -0.14. The firm’s 50 day simple moving average is $15.26 and its two-hundred day simple moving average is $14.91.

Modiv Industrial (NYSE:MDV) last issued its quarterly earnings results on Wednesday, March 25th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.33). Modiv Industrial had a net margin of 2.30% and a return on equity of 0.52%. The company had revenue of $11.07 million for the quarter, compared to analyst estimates of $11.38 million. On average, sell-side analysts predict that Modiv Industrial will post 1.5 EPS for the current fiscal year.

Institutional Trading of Modiv Industrial

A number of hedge funds have recently modified their holdings of MDV. Royal Bank of Canada boosted its stake in shares of Modiv Industrial by 648.8% in 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 during the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Modiv Industrial by 65.7% in 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 during the last quarter. Bank of America Corp DE boosted 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 worth $42,000 after buying an additional 2,935 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Modiv Industrial by 858.3% in the second quarter. JPMorgan Chase & Co. now owns 4,935 shares of the company’s stock worth $69,000 after buying an additional 4,420 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Modiv Industrial in the second quarter worth about $72,000. Hedge funds and other institutional investors own 8.21% of the company’s stock.

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.