Modiv Industrial, Inc. (NYSE:MDV) Receives Consensus Rating of “Reduce” from Analysts

Modiv Industrial, Inc. (NYSE:MDV) has received a consensus rating of “Reduce” from the six brokerages that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating and five have given a hold rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $18.50.

Several brokerages recently weighed in on MDV. Wall Street Zen cut shares of Modiv Industrial from a “hold” rating to a “sell” rating in a report on Sunday, May 10th. Zacks Research cut shares of Modiv Industrial from a “hold” rating to a “strong sell” rating in a report on Monday, May 25th. Freedom Capital cut shares of Modiv Industrial from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Cantor Fitzgerald cut shares of Modiv Industrial from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Finally, Lucid Cap Mkts cut shares of Modiv Industrial from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th.

Modiv Industrial Stock Performance

Shares of MDV opened at $18.46 on Tuesday. The stock has a market capitalization of $190.50 million, a PE ratio of -45.02 and a beta of -0.09. Modiv Industrial has a 1 year low of $13.80 and a 1 year high of $18.67. The company’s 50-day simple moving average is $16.74 and its 200-day simple moving average is $15.47.

Modiv Industrial (NYSE:MDV) last issued its quarterly earnings results 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). Modiv Industrial had a return on equity of 0.07% and a net margin of 0.33%.The business had revenue of $11.70 million for the quarter, compared to analyst estimates of $11.43 million. On average, sell-side analysts predict that Modiv Industrial will post 1.39 earnings per share for the current year.

Modiv Industrial Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a c) annualized dividend and a yield of 6.5%. Modiv Industrial’s dividend payout ratio (DPR) is -292.68%.

Institutional Trading of Modiv Industrial

Hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets raised its holdings in Modiv Industrial by 65.7% in the third quarter. BNP Paribas Financial Markets now owns 2,185 shares of the company’s stock valued at $32,000 after acquiring an additional 866 shares in the last quarter. Royal Bank of Canada raised its holdings in Modiv Industrial by 648.8% in the fourth quarter. Royal Bank of Canada now owns 2,209 shares of the company’s stock valued at $32,000 after acquiring an additional 1,914 shares in the last quarter. Bank of America Corp DE raised its holdings 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 valued at $42,000 after acquiring an additional 2,935 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Modiv Industrial by 858.3% in the second quarter. JPMorgan Chase & Co. now owns 4,935 shares of the company’s stock valued at $69,000 after purchasing an additional 4,420 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Modiv Industrial in the second quarter valued at approximately $72,000. Institutional investors and hedge funds 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.