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

Modiv Industrial, Inc. (NYSE:MDV) was the recipient of a large increase in short interest in January. As of January 30th, there was short interest totaling 286,280 shares, an increase of 33.7% from the January 15th total of 214,143 shares. Based on an average daily volume of 34,772 shares, the days-to-cover ratio is currently 8.2 days. Currently, 2.9% of the company’s stock are sold short. Currently, 2.9% of the company’s stock are sold short. Based on an average daily volume of 34,772 shares, the days-to-cover ratio is currently 8.2 days.

Modiv Industrial Trading Down 0.4%

Modiv Industrial stock traded down $0.06 during mid-day trading on Monday, reaching $14.93. The company’s stock had a trading volume of 59,175 shares, compared to its average volume of 34,610. Modiv Industrial has a twelve month low of $13.62 and a twelve month high of $17.15. The business has a 50 day moving average price of $14.77 and a 200-day moving average price of $14.73. The firm has a market cap of $153.32 million, a price-to-earnings ratio of -57.42 and a beta of -0.31.

Modiv Industrial Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be issued a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a c) dividend on an annualized basis and a yield of 8.0%. Modiv Industrial’s dividend payout ratio (DPR) is currently -461.54%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Weiss Ratings raised shares of Modiv Industrial from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, January 26th. Cantor Fitzgerald began coverage on shares of Modiv Industrial in a report on Wednesday, February 4th. They set an “overweight” rating and a $18.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $18.00.

Hedge Funds Weigh In On Modiv Industrial

Several institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC lifted its holdings in shares of Modiv Industrial by 130.1% in the 2nd 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 during the last quarter. State Street Corp increased its position in Modiv Industrial by 12.0% in the fourth quarter. State Street Corp now owns 120,787 shares of the company’s stock worth $1,750,000 after buying an additional 12,970 shares during the period. State of New Jersey Common Pension Fund D lifted its stake in Modiv Industrial by 20.0% in the fourth 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 during the last quarter. Penserra Capital Management LLC boosted its holdings in shares of Modiv Industrial by 3.5% during the third quarter. Penserra Capital Management LLC now owns 74,973 shares of the company’s stock valued at $1,097,000 after acquiring an additional 2,535 shares during the period. Finally, Meixler Investment Management Ltd. bought a new position in shares of Modiv Industrial during the fourth quarter worth about $1,023,000. 8.21% of the stock is owned by institutional investors.

Modiv Industrial Company 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.