Modiv Industrial, Inc. (NYSE:MDV) Sees Large Decrease in Short Interest

Key Points

• Short interest fell 38.6% to 103,193 shares as of July 15, representing about 1.0% of Modiv Industrial’s outstanding stock and 1.8 days of average trading volume.
• CEO Aaron Scott Halfacre purchased 3,586 shares for approximately $62,181, increasing his direct stake by 2.67%. Institutional investors and hedge funds own 8.21% of the company.
• Analysts maintain a consensus “Hold” rating with an $18.50 price target. Shares recently traded at $17.54, while the company announced a $0.10 monthly dividend, implying a 6.8% annualized yield.

Modiv Industrial, Inc. (NYSE:MDV - Get Free Report) was the recipient of a large decrease in short interest in July. As of July 15th, there was short interest totaling 103,193 shares, a decrease of 38.6% from the June 30th total of 168,037 shares. Based on an average daily volume of 58,919 shares, the short-interest ratio is presently 1.8 days. Approximately 1.0% of the company's stock are short sold.

Insider Transactions at Modiv Industrial

In related news, CEO Aaron Scott Halfacre acquired 3,586 shares of the business's stock in a transaction on Tuesday, June 30th. The shares were bought at an average cost of $17.34 per share, with a total value of $62,181.24. Following the completion of the transaction, the chief executive officer directly owned 137,830 shares of the company's stock, valued at $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 can be accessed through the SEC website. Corporate insiders own 2.80% of the company's stock.

Institutional Trading of Modiv Industrial

A number of hedge funds have recently made changes to their positions in the stock. North Star Investment Management Corp. bought a new position in Modiv Industrial during the 1st quarter valued at $859,000. J. Derek Lewis & Associates Inc. acquired a new stake in shares of Modiv Industrial in the 4th quarter valued at about $146,000. State of New Jersey Common Pension Fund D lifted its position in shares of Modiv Industrial by 20.0% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 90,000 shares of the company's stock worth $1,295,000 after purchasing an additional 15,000 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Modiv Industrial by 123.3% during the third quarter. JPMorgan Chase & Co. now owns 11,022 shares of the company's stock worth $161,000 after purchasing an additional 6,087 shares during the last quarter. Finally, Blankinship & Foster LLC acquired a new position in Modiv Industrial in the fourth quarter worth about $219,000. Institutional investors and hedge funds own 8.21% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on MDV. Cantor Fitzgerald downgraded Modiv Industrial from a "strong-buy" rating to a "hold" rating in a report on Monday, May 4th. Zacks Research upgraded Modiv Industrial from a "strong sell" rating to a "hold" rating in a report on Tuesday, June 23rd. Freedom Capital downgraded shares of Modiv Industrial from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 4th. Lucid Cap Mkts lowered shares of Modiv Industrial from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 4th. Finally, Wall Street Zen cut shares of Modiv Industrial from a "hold" rating to a "sell" rating in a research report on Sunday, May 10th. Six investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $18.50.

Modiv Industrial Stock Down 1.0%

Shares of Modiv Industrial stock traded down $0.17 during trading hours on Thursday, hitting $17.54. 46,505 shares of the company's stock traded hands, compared to its average volume of 64,473. Modiv Industrial has a twelve month low of $13.80 and a twelve month high of $18.96. The company has a market cap of $181.02 million, a PE ratio of -42.78 and a beta of -0.07. The stock has a 50 day simple moving average of $17.98 and a 200-day simple moving average of $16.33.

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

Modiv Industrial Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, August 10th. Shareholders of record on Monday, August 3rd will be given a $0.10 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date of this dividend is Monday, August 3rd. Modiv Industrial's dividend payout ratio is presently -292.68%.

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.

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