Modiv Industrial (NYSE:MDV) Downgraded to Strong Sell Rating by Zacks Research

Zacks Research downgraded shares of Modiv Industrial (NYSE:MDV) from a hold rating to a strong sell rating in a research report released on Monday,Zacks.com reports.

Several other analysts have also recently issued reports on MDV. Alliance Global Partners reaffirmed a “neutral” rating and set a $19.00 price objective (up from $18.00) on shares of Modiv Industrial in a research note on Thursday, May 7th. Weiss Ratings raised shares of Modiv Industrial from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, January 26th. Wall Street Zen cut shares of Modiv Industrial from a “hold” rating to a “sell” rating in a research note on Sunday, May 10th. Cantor Fitzgerald cut shares of Modiv Industrial from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Finally, Freedom Capital cut shares of Modiv Industrial from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Five research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Modiv Industrial has a consensus rating of “Reduce” and an average target price of $18.50.

Modiv Industrial Trading Up 1.5%

Shares of NYSE MDV opened at $18.51 on Monday. Modiv Industrial has a 12-month low of $13.80 and a 12-month high of $18.58. The stock has a market cap of $191.02 million, a PE ratio of -45.15 and a beta of -0.14. The company has a 50-day moving average of $16.04 and a 200 day moving average of $15.24.

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). Modiv Industrial had a net margin of 0.33% and a return on equity of 0.07%. The business had revenue of $11.70 million for the quarter, compared to analysts’ expectations of $11.43 million. On average, sell-side analysts forecast that Modiv Industrial will post 1.39 EPS for the current fiscal year.

Modiv Industrial Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a c) annualized dividend and a dividend yield of 6.5%. Modiv Industrial’s dividend payout ratio is -292.68%.

Institutional Trading of Modiv Industrial

Several hedge funds have recently made changes to their positions in the company. Bank of America Corp DE increased its position in shares of Modiv Industrial by 27.8% during the first quarter. Bank of America Corp DE now owns 21,079 shares of the company’s stock valued at $302,000 after acquiring an additional 4,586 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Modiv Industrial by 14.7% in the 1st quarter. Renaissance Technologies LLC now owns 75,700 shares of the company’s stock valued at $1,084,000 after purchasing an additional 9,702 shares during the last quarter. Militia Capital Management LLC acquired a new stake in Modiv Industrial in the 1st quarter valued at approximately $352,000. Dimensional Fund Advisors LP increased its holdings in Modiv Industrial by 17.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 82,199 shares of the company’s stock valued at $1,177,000 after purchasing an additional 12,439 shares during the last quarter. Finally, AlphaCentric Advisors LLC acquired a new stake in Modiv Industrial in the 1st quarter valued at approximately $143,000. Hedge funds and other institutional investors own 8.21% of the company’s stock.

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.