North Star Investment Management Corp. Takes Position in Modiv Industrial, Inc. $MDV

North Star Investment Management Corp. bought a new position in Modiv Industrial, Inc. (NYSE:MDV) in the 1st quarter, Holdings Channel reports. The firm bought 60,000 shares of the company’s stock, valued at approximately $859,000.

A number of other large investors have also recently made changes to their positions in MDV. BNP Paribas Financial Markets grew its holdings in Modiv Industrial by 65.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,185 shares of the company’s stock valued at $32,000 after purchasing an additional 866 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Modiv Industrial by 2.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 69,760 shares of the company’s stock worth $1,004,000 after purchasing an additional 1,637 shares during the period. Royal Bank of Canada lifted its stake in 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 purchasing an additional 1,914 shares during the last quarter. Bank of America Corp DE lifted its stake 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 purchasing an additional 2,935 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of Modiv Industrial by 46.3% during the fourth quarter. Wells Fargo & Company MN now owns 10,488 shares of the company’s stock valued at $151,000 after buying an additional 3,317 shares during the period. 8.21% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Aaron Scott Halfacre purchased 5,766 shares of the company’s stock in a transaction dated Friday, June 26th. The shares were acquired at an average price of $17.49 per share, with a total value of $100,847.34. Following the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MDV. Lucid Cap Mkts cut Modiv Industrial from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Alliance Global Partners reissued a “neutral” rating and set a $19.00 price target (up from $18.00) on shares of Modiv Industrial in a research note on Thursday, May 7th. Freedom Capital cut Modiv Industrial from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Wall Street Zen downgraded Modiv Industrial from a “hold” rating to a “sell” rating in a research report on Sunday, May 10th. Finally, Zacks Research upgraded Modiv Industrial from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 23rd. Six analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Modiv Industrial presently has a consensus rating of “Hold” and an average target price of $18.50.

Modiv Industrial Stock Performance

Modiv Industrial stock opened at $17.49 on Tuesday. The company has a market capitalization of $180.56 million, a PE ratio of -42.66 and a beta of -0.09. The company has a 50 day moving average price of $17.66 and a 200-day moving average price of $15.83. Modiv Industrial, Inc. has a fifty-two week low of $13.80 and a fifty-two week high of $18.83.

Modiv Industrial (NYSE:MDV) last announced its quarterly earnings data on Friday, May 8th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.12). The firm had revenue of $11.70 million during the quarter, compared to the consensus estimate of $11.43 million. Modiv Industrial had a return on equity of 0.07% and a net margin of 0.33%. On average, analysts forecast that Modiv Industrial, Inc. will post 1.39 earnings per share for the current year.

Modiv Industrial Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, August 10th. Shareholders of record on Monday, August 3rd will be issued a $0.10 dividend. This represents a c) annualized dividend and a dividend yield of 6.9%. The ex-dividend date is Monday, August 3rd. Modiv Industrial’s dividend payout ratio is currently -292.68%.

Modiv Industrial 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.