Millennium Management LLC Boosts Stock Position in Modiv Industrial, Inc. (NYSE:MDV)

Millennium Management LLC increased its holdings in shares of Modiv Industrial, Inc. (NYSE:MDV - Free Report) by 154.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,344 shares of the company's stock after buying an additional 23,251 shares during the quarter. Millennium Management LLC owned 0.40% of Modiv Industrial worth $571,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its holdings in shares of Modiv Industrial by 23.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 35,454 shares of the company's stock valued at $528,000 after buying an additional 6,702 shares during the last quarter. Marshall Wace LLP acquired a new position in Modiv Industrial in the 4th quarter worth about $339,000. 683 Capital Management LLC purchased a new position in shares of Modiv Industrial during the 4th quarter valued at approximately $321,000. Jane Street Group LLC purchased a new stake in shares of Modiv Industrial during the fourth quarter worth about $295,000. Finally, Hillsdale Investment Management Inc. acquired a new position in shares of Modiv Industrial during the fourth quarter valued at approximately $248,000. 8.21% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Modiv Industrial

In other news, CEO Aaron Scott Halfacre acquired 3,121 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The stock was acquired at an average cost of $14.10 per share, with a total value of $44,006.10. Following the completion of the acquisition, the chief executive officer now owns 120,000 shares of the company's stock, valued at $1,692,000. The trade was a 2.67% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders purchased 6,792 shares of company stock worth $97,131 over the last 90 days. Corporate insiders own 2.80% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, B. Riley started coverage on shares of Modiv Industrial in a research report on Tuesday, April 22nd. They set a "buy" rating and a $18.00 price target on the stock.

Modiv Industrial Stock Down 0.3%

NYSE MDV traded down $0.04 during trading hours on Thursday, hitting $14.43. 24,912 shares of the company were exchanged, compared to its average volume of 36,163. The company has a 50 day moving average of $14.88 and a two-hundred day moving average of $15.17. The firm has a market cap of $146.02 million, a price-to-earnings ratio of -131.18 and a beta of -0.31. Modiv Industrial, Inc. has a 52-week low of $13.62 and a 52-week high of $18.11.

Modiv Industrial Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be paid a dividend of $0.0975 per share. The ex-dividend date is Monday, June 30th. This represents a $1.17 annualized dividend and a yield of 8.11%. Modiv Industrial's dividend payout ratio is currently -1,300.00%.

Modiv Industrial Profile

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.