Modiv Industrial, Inc. (NYSE:MDV) Short Interest Down 18.4% in March

Modiv Industrial, Inc. (NYSE:MDV) was the recipient of a large decrease in short interest during the month of March. As of March 13th, there was short interest totaling 205,871 shares, a decrease 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. Approximately 2.1% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

MDV has been the subject of several research reports. Cantor Fitzgerald began coverage on shares of Modiv Industrial in a report on Wednesday, February 4th. They issued an “overweight” rating and a $18.00 target price for the company. Wall Street Zen lowered Modiv Industrial from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Weiss Ratings raised Modiv Industrial from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, January 26th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $18.00.

Modiv Industrial Price Performance

Shares of NYSE MDV traded up $0.23 during midday trading on Monday, hitting $14.35. The company’s stock had a trading volume of 29,633 shares, compared to its average volume of 49,262. The firm has a market capitalization of $148.07 million, a price-to-earnings ratio of -46.25 and a beta of -0.31. The business’s fifty day simple moving average is $14.95 and its two-hundred day simple moving average is $14.71. Modiv Industrial has a 1 year low of $13.62 and a 1 year high of $17.15.

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

Modiv Industrial Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a $0.10 dividend. This represents a c) annualized dividend and a dividend yield of 8.4%. The ex-dividend date is Tuesday, June 30th. Modiv Industrial’s dividend payout ratio (DPR) is presently -387.10%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC raised its holdings in Modiv Industrial by 130.1% during the second quarter. Geode Capital Management LLC now owns 224,351 shares of the company’s stock worth $3,160,000 after purchasing an additional 126,850 shares in the last quarter. State Street Corp boosted its holdings in shares of Modiv Industrial by 12.0% in the 4th quarter. State Street Corp now owns 120,787 shares of the company’s stock valued at $1,750,000 after buying an additional 12,970 shares in the last quarter. State of New Jersey Common Pension Fund D boosted its holdings in shares of Modiv Industrial by 20.0% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 90,000 shares of the company’s stock valued at $1,295,000 after buying an additional 15,000 shares in the last quarter. Penserra Capital Management LLC grew its position in shares of Modiv Industrial by 3.5% in the 3rd quarter. Penserra Capital Management LLC now owns 74,973 shares of the company’s stock valued at $1,097,000 after buying an additional 2,535 shares during the last quarter. Finally, Meixler Investment Management Ltd. acquired a new stake in Modiv Industrial during the 4th quarter worth $1,023,000. 8.21% of the stock is owned by institutional investors and hedge funds.

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.