Modiv Industrial, Inc. (NYSE:MDV) Short Interest Update

Modiv Industrial, Inc. (NYSE:MDV) saw a large decrease in short interest in May. As of May 15th, there was short interest totaling 94,744 shares, a decrease of 67.3% from the April 30th total of 289,741 shares. Approximately 0.9% of the shares of the stock are sold short. Based on an average daily volume of 169,530 shares, the days-to-cover ratio is currently 0.6 days.

Hedge Funds Weigh In On Modiv Industrial

Several large investors have recently bought and sold shares of the company. Geode Capital Management LLC raised its position in Modiv Industrial by 130.1% in the second quarter. Geode Capital Management LLC now owns 224,351 shares of the company’s stock valued at $3,160,000 after purchasing an additional 126,850 shares during the last quarter. State Street Corp increased its holdings 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 purchasing an additional 12,970 shares in the last quarter. State of New Jersey Common Pension Fund D grew 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 acquiring an additional 15,000 shares during the period. Dimensional Fund Advisors LP grew its stake in Modiv Industrial by 17.8% in the first quarter. Dimensional Fund Advisors LP now owns 82,199 shares of the company’s stock valued at $1,177,000 after acquiring an additional 12,439 shares during the period. Finally, Renaissance Technologies LLC boosted its position in shares of Modiv Industrial by 14.7% during the first quarter. Renaissance Technologies LLC now owns 75,700 shares of the company’s stock valued at $1,084,000 after buying an additional 9,702 shares during the last quarter. 8.21% of the stock is currently owned by institutional investors.

Modiv Industrial Price Performance

NYSE:MDV traded down $0.40 during trading hours on Friday, hitting $18.18. The company’s stock had a trading volume of 76,026 shares, compared to its average volume of 120,072. The stock has a fifty day simple moving average of $16.28 and a 200-day simple moving average of $15.32. The company has a market capitalization of $187.64 million, a P/E ratio of -44.33 and a beta of -0.14. Modiv Industrial has a twelve month low of $13.80 and a twelve month high of $18.67.

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

Modiv Industrial Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, July 15th. Investors 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 yield of 6.6%. Modiv Industrial’s dividend payout ratio (DPR) is -292.68%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Lucid Cap Mkts lowered Modiv Industrial from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Alliance Global Partners reissued a “neutral” rating and set a $19.00 target price (up from $18.00) on shares of Modiv Industrial in a report on Thursday, May 7th. Zacks Research lowered Modiv Industrial from a “hold” rating to a “strong sell” rating in a report on Monday, May 25th. Wall Street Zen lowered Modiv Industrial from a “hold” rating to a “sell” rating in a report on Sunday, May 10th. Finally, Freedom Capital lowered Modiv Industrial from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Five investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $18.50.

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.