Renaissance Technologies LLC trimmed its stake in shares of Modiv Industrial, Inc. (NYSE:MDV - Free Report) by 21.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 69,600 shares of the company's stock after selling 19,100 shares during the period. Renaissance Technologies LLC owned approximately 0.72% of Modiv Industrial worth $1,036,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. State Street Corp raised its holdings in Modiv Industrial by 16.3% during the 3rd quarter. State Street Corp now owns 15,135 shares of the company's stock worth $256,000 after purchasing an additional 2,121 shares during the last quarter. Barclays PLC acquired a new stake in shares of Modiv Industrial during the 3rd quarter worth approximately $87,000. Geode Capital Management LLC raised its stake in shares of Modiv Industrial by 25.3% during the third quarter. Geode Capital Management LLC now owns 91,777 shares of the company's stock worth $1,543,000 after buying an additional 18,549 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. acquired a new position in Modiv Industrial in the fourth quarter valued at approximately $172,000. Finally, Bailard Inc. boosted its stake in Modiv Industrial by 5.7% in the fourth quarter. Bailard Inc. now owns 13,302 shares of the company's stock valued at $198,000 after acquiring an additional 715 shares during the last quarter. 8.21% of the stock is owned by institutional investors.
Modiv Industrial Stock Performance
NYSE:MDV traded up $0.23 during mid-day trading on Friday, hitting $16.41. The company had a trading volume of 48,336 shares, compared to its average volume of 33,319. The firm has a market cap of $163.52 million, a P/E ratio of -149.15 and a beta of -0.24. Modiv Industrial, Inc. has a fifty-two week low of $13.62 and a fifty-two week high of $18.11. The business's fifty day moving average is $15.52 and its two-hundred day moving average is $15.61.
Modiv Industrial Announces Dividend
The company also recently disclosed a dividend, which will be paid on Thursday, May 15th. Investors of record on Wednesday, April 30th will be issued a dividend of $0.0975 per share. The ex-dividend date is Wednesday, April 30th. Modiv Industrial's dividend payout ratio is currently 468.00%.
Wall Street Analyst Weigh In
Separately, B. Riley initiated coverage on shares of Modiv Industrial in a research report on Tuesday, April 22nd. They set a "buy" rating and a $18.00 target price for the company.
Check Out Our Latest Stock Analysis on Modiv Industrial
About Modiv Industrial
(
Free Report)
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.
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