Crossingbridge Advisors LLC Invests $273,000 in Modiv Industrial, Inc. $MDV

Key Points

• Crossingbridge Advisors LLC has acquired a new stake in Modiv Industrial, Inc. by purchasing 16,989 shares valued at approximately $273,000, representing 0.17% ownership of the company.
• Modiv Industrial recently announced a monthly dividend of $0.0975 per share, with an expected annualized dividend yield of 7.8%.
• In insider activity, CEO Aaron Scott Halfacre bought 3,121 shares at an average cost of $14.10 each, increasing their ownership in the company.

Crossingbridge Advisors LLC purchased a new stake in shares of Modiv Industrial, Inc. (NYSE:MDV - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 16,989 shares of the company's stock, valued at approximately $273,000. Crossingbridge Advisors LLC owned 0.17% of Modiv Industrial at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Resona Asset Management Co. Ltd. increased its position in shares of Modiv Industrial by 22.1% during the first quarter. Resona Asset Management Co. Ltd. now owns 4,055 shares of the company's stock valued at $64,000 after buying an additional 734 shares during the period. CWM LLC grew its holdings in Modiv Industrial by 12.4% in the first quarter. CWM LLC now owns 7,000 shares of the company's stock worth $112,000 after purchasing an additional 770 shares during the period. Jefferies Financial Group Inc. purchased a new stake in Modiv Industrial in the first quarter worth about $173,000. Man Group plc purchased a new stake in Modiv Industrial in the fourth quarter worth about $175,000. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in Modiv Industrial in the fourth quarter worth about $175,000. Hedge funds and other institutional investors own 8.21% of the company's stock.

Insider Activity

In other news, CEO Aaron Scott Halfacre bought 3,121 shares of the company's stock in a transaction dated Tuesday, June 3rd. The shares were purchased at an average price of $14.10 per share, for a total transaction of $44,006.10. Following the completion of the purchase, the chief executive officer owned 120,000 shares in the company, valued at approximately $1,692,000. This represents a 2.67% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have purchased a total of 4,193 shares of company stock valued at $59,177 in the last 90 days. Corporate insiders own 2.80% of the company's stock.

Modiv Industrial Trading Up 1.2%

MDV traded up $0.18 during midday trading on Tuesday, reaching $15.27. The company's stock had a trading volume of 5,089 shares, compared to its average volume of 50,459. The firm has a market capitalization of $155.10 million, a price-to-earnings ratio of -34.75 and a beta of -0.31. Modiv Industrial, Inc. has a 1 year low of $13.62 and a 1 year high of $18.11. The stock's 50-day moving average is $14.60 and its 200-day moving average is $14.91.

Modiv Industrial Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be issued a $0.0975 dividend. This represents a c) dividend on an annualized basis and a yield of 7.7%. The ex-dividend date is Tuesday, September 30th. Modiv Industrial's dividend payout ratio is -265.91%.

About Modiv Industrial

Modiv Industrial, Inc is an internally managed REIT that is focused on single-tenant net-lease industrial manufacturing real estate. The Company actively acquires critical industrial manufacturing properties with long-term leases to tenants that fuel the national economy and strengthen the nation's supply chains.