Modiv Industrial, Inc. (NYSE:MDV) Short Interest Down 18.4% in March

Key Points

• Short interest fell 18.4% in March to 205,871 shares (about 2.1% of shares short), leaving a short-interest ratio of 3.8 days based on average daily volume.
• Analyst views are mixed but the stock carries a consensus Buy rating with a $18.00 consensus target after Cantor Fitzgerald started coverage at "overweight" while other providers issued upgrades and downgrades.
• Modiv missed quarterly estimates (EPS $0.02 vs. $0.35 expected and slightly lower revenue) but announced a monthly $0.10 dividend, implying an annualized yield of about 8.4%.

Modiv Industrial, Inc. (NYSE:MDV - Get Free Report) saw a large decline in short interest during the month of March. As of March 13th, there was short interest totaling 205,871 shares, a decline of 18.4% from the February 26th total of 252,243 shares. Based on an average daily trading volume, of 54,751 shares, the short-interest ratio is presently 3.8 days. Approximately 2.1% of the shares of the stock are short sold.

Analyst Ratings Changes

Several equities analysts have recently weighed in on MDV shares. Cantor Fitzgerald started coverage on Modiv Industrial in a research report on Wednesday, February 4th. They issued an "overweight" rating and a $18.00 target price on the stock. Weiss Ratings raised Modiv Industrial from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, January 26th. Finally, Wall Street Zen lowered Modiv Industrial from a "hold" rating to a "sell" rating in a report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $18.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. J. Derek Lewis & Associates Inc. acquired a new position in shares of Modiv Industrial in the 4th quarter valued at $146,000. Royal Bank of Canada raised its holdings in Modiv Industrial by 648.8% in the 4th quarter. Royal Bank of Canada now owns 2,209 shares of the company's stock valued at $32,000 after buying an additional 1,914 shares during the period. Rothschild Wealth LLC acquired a new position in Modiv Industrial in the fourth quarter valued at about $331,000. Barclays PLC lifted its position in Modiv Industrial by 36.8% in the fourth quarter. Barclays PLC now owns 18,088 shares of the company's stock valued at $260,000 after buying an additional 4,863 shares during the last quarter. Finally, Meixler Investment Management Ltd. purchased a new position in Modiv Industrial during the fourth quarter worth about $1,023,000. Institutional investors and hedge funds own 8.21% of the company's stock.

Modiv Industrial Stock Up 1.6%

MDV traded up $0.23 during trading on Monday, reaching $14.35. The company's stock had a trading volume of 29,633 shares, compared to its average volume of 49,262. The company has a market cap of $148.07 million, a price-to-earnings ratio of -46.25 and a beta of -0.31. The firm has a fifty day simple moving average of $14.95 and a two-hundred day simple moving average of $14.71. Modiv Industrial has a 1 year low of $13.62 and a 1 year high of $17.15.

Modiv Industrial (NYSE:MDV - Get Free Report) last posted its quarterly earnings results on Wednesday, March 25th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.33). Modiv Industrial had a net margin of 2.30% and a return on equity of 0.52%. The company had revenue of $11.07 million during the quarter, compared to analyst estimates of $11.38 million. As a group, equities analysts forecast that Modiv Industrial will post 1.18 EPS for the current fiscal year.

Modiv Industrial Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a c) dividend on an annualized basis and a dividend yield of 8.4%. Modiv Industrial's dividend payout ratio (DPR) is -387.10%.

About Modiv Industrial

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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