Analysts Set Modiv Industrial, Inc. (NYSE:MDV) Price Target at $18.50

Modiv Industrial, Inc. (NYSE:MDV) has been assigned a consensus recommendation of “Hold” from the six brokerages that are covering the company, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold recommendation. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $18.50.

Several brokerages have recently issued reports on MDV. Cantor Fitzgerald cut shares of Modiv Industrial from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Wall Street Zen lowered shares of Modiv Industrial from a “hold” rating to a “sell” rating in a research note on Sunday, May 10th. Alliance Global Partners restated 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 upgraded shares of Modiv Industrial from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 23rd. Finally, Lucid Cap Mkts cut Modiv Industrial from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th.

Insider Activity

In related news, CEO Aaron Scott Halfacre bought 3,586 shares of Modiv Industrial stock in a transaction dated Tuesday, June 30th. The stock was acquired at an average cost of $17.34 per share, with a total value of $62,181.24. Following the completion of the acquisition, the chief executive officer directly owned 137,830 shares in the company, valued at approximately $2,389,972.20. This trade represents a 2.67% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 2.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Modiv Industrial

Institutional investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets lifted its position in shares of Modiv Industrial by 65.7% in the third quarter. BNP Paribas Financial Markets now owns 2,185 shares of the company’s stock worth $32,000 after purchasing an additional 866 shares in the last quarter. Royal Bank of Canada grew its position in Modiv Industrial by 648.8% during the fourth quarter. Royal Bank of Canada now owns 2,209 shares of the company’s stock valued at $32,000 after purchasing an additional 1,914 shares in the last quarter. Bank of America Corp DE grew its position in Modiv Industrial by 3,913.3% during the second quarter. Bank of America Corp DE now owns 3,010 shares of the company’s stock valued at $42,000 after purchasing an additional 2,935 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Modiv Industrial by 858.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 4,935 shares of the company’s stock valued at $69,000 after buying an additional 4,420 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Modiv Industrial in the 2nd quarter valued at approximately $72,000. Hedge funds and other institutional investors own 8.21% of the company’s stock.

Modiv Industrial Stock Up 0.2%

Shares of Modiv Industrial stock opened at $17.92 on Friday. The business has a fifty day simple moving average of $17.81 and a 200-day simple moving average of $15.91. Modiv Industrial has a fifty-two week low of $13.80 and a fifty-two week high of $18.83. The firm has a market cap of $184.90 million, a price-to-earnings ratio of -43.70 and a beta of -0.07.

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

Modiv Industrial Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, August 10th. Investors of record on Monday, August 3rd will be issued a $0.10 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 6.7%. The ex-dividend date is Monday, August 3rd. Modiv Industrial’s payout ratio is presently -292.68%.

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.