Renaissance Technologies LLC Sells 19,100 Shares of Modiv Industrial, Inc. (NYSE:MDV)

Renaissance Technologies LLC reduced its position in Modiv Industrial, Inc. (NYSE:MDV - Free Report) by 21.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 69,600 shares of the company's stock after selling 19,100 shares during the period. Renaissance Technologies LLC owned 0.72% of Modiv Industrial worth $1,036,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Bailard Inc. grew its stake in shares of Modiv Industrial by 5.7% during the fourth quarter. Bailard Inc. now owns 13,302 shares of the company's stock worth $198,000 after purchasing an additional 715 shares during the period. State Street Corp boosted its holdings in Modiv Industrial by 16.3% during the third quarter. State Street Corp now owns 15,135 shares of the company's stock worth $256,000 after buying an additional 2,121 shares during the last quarter. Resona Asset Management Co. Ltd. acquired a new position in shares of Modiv Industrial during the 4th quarter worth about $50,000. Barclays PLC bought a new stake in shares of Modiv Industrial in the 3rd quarter valued at about $87,000. Finally, Sumitomo Mitsui Trust Group Inc. acquired a new stake in shares of Modiv Industrial in the 4th quarter valued at approximately $172,000. Institutional investors own 8.21% of the company's stock.

Modiv Industrial Stock Down 6.8 %

Modiv Industrial stock traded down $1.07 during mid-day trading on Tuesday, hitting $14.57. 144,335 shares of the company's stock were exchanged, compared to its average volume of 33,838. Modiv Industrial, Inc. has a fifty-two week low of $13.62 and a fifty-two week high of $18.11. The firm has a market capitalization of $147.27 million, a P/E ratio of -132.45 and a beta of -0.24. The company's 50 day simple moving average is $15.54 and its 200-day simple moving average is $15.58.

Modiv Industrial Announces Dividend

The firm also recently disclosed a dividend, which will be paid on Thursday, May 15th. Stockholders of record on Wednesday, April 30th will be issued a dividend of $0.0975 per share. The ex-dividend date of this dividend is Wednesday, April 30th. Modiv Industrial's dividend payout ratio (DPR) is presently 468.00%.

Wall Street Analyst Weigh In

Separately, B. Riley began coverage on shares of Modiv Industrial in a research note on Tuesday, April 22nd. They issued a "buy" rating and a $18.00 target price for the company.

Modiv Industrial Company 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.