Short Interest in Modiv Industrial, Inc. (NYSE:MDV) Declines By 58.6%

Modiv Industrial, Inc. (NYSE:MDV - Get Free Report) was the recipient of a significant drop in short interest in the month of May. As of May 15th, there was short interest totalling 20,800 shares, a drop of 58.6% from the April 30th total of 50,300 shares. Based on an average daily volume of 48,200 shares, the short-interest ratio is presently 0.4 days. Approximately 0.2% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

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

Modiv Industrial Price Performance

Shares of MDV traded down $0.02 on Friday, hitting $14.37. The company's stock had a trading volume of 24,278 shares, compared to its average volume of 35,497. The company has a market capitalization of $145.41 million, a PE ratio of -130.64 and a beta of -0.24. Modiv Industrial has a fifty-two week low of $13.62 and a fifty-two week high of $18.11. The company has a 50 day moving average price of $15.14 and a 200 day moving average price of $15.27.

Modiv Industrial Dividend Announcement

The firm also recently disclosed a dividend, which was paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th were paid a $0.0975 dividend. The ex-dividend date was Wednesday, April 30th. Modiv Industrial's dividend payout ratio is currently -1,300.00%.

Insiders Place Their Bets

In related news, CEO Aaron Scott Halfacre acquired 2,000 shares of the business's stock in a transaction on Thursday, May 8th. The stock was bought at an average cost of $14.48 per share, with a total value of $28,960.00. Following the completion of the acquisition, the chief executive officer now owns 115,412 shares in the company, valued at $1,671,165.76. The trade was a 1.76% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders acquired a total of 3,671 shares of company stock worth $53,125 over the last quarter. Company insiders own 2.80% of the company's stock.

Institutional Trading of Modiv Industrial

Large investors have recently made changes to their positions in the business. Resona Asset Management Co. Ltd. bought a new position in shares of Modiv Industrial in the fourth quarter valued at about $50,000. CWM LLC increased its position in Modiv Industrial by 12.4% in the 1st quarter. CWM LLC now owns 7,000 shares of the company's stock valued at $112,000 after acquiring an additional 770 shares in the last quarter. TT Capital Management LLC bought a new position in shares of Modiv Industrial in the fourth quarter worth about $158,000. Sumitomo Mitsui Trust Group Inc. bought a new position in shares of Modiv Industrial in the fourth quarter worth about $172,000. Finally, Jefferies Financial Group Inc. acquired a new position in shares of Modiv Industrial during the first quarter worth approximately $173,000. Institutional investors own 8.21% of the company's stock.

About Modiv Industrial

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.