Modiv Industrial (NYSE:MDV) Trading Down 2.1% - What's Next?

Key Points

• Modiv Industrial's share price decreased by 2.1%, trading at $14.33 after a low of $14.24, with a volume drop of 26% compared to its average.
• Analysts from B. Riley have initiated coverage with a "buy" rating and a target price of $18.00.
• The company recently announced a monthly dividend of $0.0975 per share, showcasing an 8.16% yield despite an unusual payout ratio of -1,300.00%.

Modiv Industrial, Inc. (NYSE:MDV - Get Free Report) dropped 2.1% during trading on Wednesday . The stock traded as low as $14.24 and last traded at $14.33. Approximately 31,709 shares were traded during trading, a decline of 26% from the average daily volume of 42,682 shares. The stock had previously closed at $14.64.

Wall Street Analysts Forecast Growth

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

Modiv Industrial Price Performance

The stock has a market cap of $145.07 million, a price-to-earnings ratio of -159.26 and a beta of -0.31. The company's fifty day moving average price is $14.41 and its 200-day moving average price is $14.92.

Modiv Industrial Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be given a $0.0975 dividend. This represents a c) annualized dividend and a yield of 8.2%. The ex-dividend date is Tuesday, September 30th. Modiv Industrial's dividend payout ratio is currently -1,300.00%.

Insider Buying and Selling at Modiv Industrial

In other Modiv Industrial news, CEO Aaron Scott Halfacre bought 3,121 shares of Modiv Industrial stock in a transaction dated Tuesday, June 3rd. The stock was acquired at an average cost of $14.10 per share, for a total transaction of $44,006.10. Following the completion of the transaction, the chief executive officer directly owned 120,000 shares of the company's stock, valued at approximately $1,692,000. This represents a 2.67% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Over the last three months, insiders purchased 7,864 shares of company stock worth $112,302. Corporate insiders own 2.80% of the company's stock.

Institutional Trading of Modiv Industrial

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Resona Asset Management Co. Ltd. increased its stake in shares of Modiv Industrial by 22.1% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 4,055 shares of the company's stock worth $64,000 after acquiring an additional 734 shares during the last quarter. CWM LLC increased its stake in shares of Modiv Industrial by 12.4% in the 1st quarter. CWM LLC now owns 7,000 shares of the company's stock worth $112,000 after acquiring an additional 770 shares during the last quarter. Northern Trust Corp increased its position in shares of Modiv Industrial by 19.6% during the 4th quarter. Northern Trust Corp now owns 16,687 shares of the company's stock worth $248,000 after purchasing an additional 2,732 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Modiv Industrial by 23.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 35,454 shares of the company's stock worth $528,000 after purchasing an additional 6,702 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D increased its position in shares of Modiv Industrial by 21.2% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 50,000 shares of the company's stock worth $704,000 after purchasing an additional 8,750 shares during the last quarter. 8.21% of the stock is owned by institutional investors and hedge funds.

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.