Modiv Industrial, Inc. (NYSE:MDV) Short Interest Down 54.1% in April

Modiv Industrial, Inc. (NYSE:MDV - Get Free Report) was the recipient of a significant decline in short interest in April. As of April 15th, there was short interest totalling 21,200 shares, a decline of 54.1% from the March 31st total of 46,200 shares. Currently, 0.2% of the shares of the stock are short sold. Based on an average trading volume of 41,300 shares, the days-to-cover ratio is currently 0.5 days.

Modiv Industrial Price Performance

MDV stock traded down $0.19 during midday trading on Thursday, reaching $16.19. 2,052 shares of the stock were exchanged, compared to its average volume of 33,073. The company has a fifty day moving average price of $15.46 and a 200 day moving average price of $15.61. Modiv Industrial has a 52 week low of $13.62 and a 52 week high of $18.11. The stock has a market capitalization of $161.37 million, a PE ratio of -148.69 and a beta of -0.24.

Modiv Industrial Announces Dividend

The firm also recently announced a dividend, which will be paid on Thursday, May 15th. Investors of record on Wednesday, April 30th will be given a dividend of $0.0975 per share. The ex-dividend date is Wednesday, April 30th. Modiv Industrial's dividend payout ratio is presently 468.00%.

Hedge Funds Weigh In On Modiv Industrial

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Barclays PLC bought a new stake in shares of Modiv Industrial in the 3rd quarter valued at about $87,000. Geode Capital Management LLC increased its position in Modiv Industrial by 25.3% during the 3rd quarter. Geode Capital Management LLC now owns 91,777 shares of the company's stock valued at $1,543,000 after purchasing an additional 18,549 shares during the period. Hillsdale Investment Management Inc. acquired a new position in shares of Modiv Industrial in the 4th quarter worth approximately $248,000. Sumitomo Mitsui Trust Group Inc. bought a new stake in shares of Modiv Industrial in the 4th quarter valued at $172,000. Finally, State Street Corp raised its stake 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. 8.21% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

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.