Modiv Industrial (NYSE:MDV) Receives New Coverage from Analysts at Alliance Global Partners

Alliance Global Partners began coverage on shares of Modiv Industrial (NYSE:MDV - Free Report) in a research note issued to investors on Monday, MarketBeat.com reports. The firm issued a buy rating and a $18.00 price target on the stock.

Modiv Industrial Price Performance

NYSE:MDV traded down $0.04 during mid-day trading on Monday, reaching $14.96. The stock had a trading volume of 13,827 shares, compared to its average volume of 26,579. The business's 50 day moving average is $15.41 and its 200 day moving average is $15.18. Modiv Industrial has a fifty-two week low of $10.70 and a fifty-two week high of $19.12. The stock has a market cap of $140.47 million, a P/E ratio of -10.56, a PEG ratio of 2.18 and a beta of -0.31.

Modiv Industrial (NYSE:MDV - Get Free Report) last announced its quarterly earnings results on Monday, March 4th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.35). Modiv Industrial had a negative net margin of 14.09% and a negative return on equity of 2.82%. The company had revenue of $12.29 million for the quarter, compared to analyst estimates of $12.53 million. During the same quarter last year, the business earned $0.68 EPS. Equities analysts expect that Modiv Industrial will post 1.38 EPS for the current year.

Modiv Industrial Dividend Announcement

The company also recently announced a dividend, which will be paid on Tuesday, May 28th. Investors of record on Tuesday, April 30th will be given a $0.0958 dividend. The ex-dividend date is Monday, April 29th. Modiv Industrial's dividend payout ratio (DPR) is currently -80.99%.

Insider Buying and Selling at Modiv Industrial

In other news, major shareholder First City Investment Group, L sold 3,654 shares of the firm's stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $17.02, for a total value of $62,191.08. Following the completion of the sale, the insider now directly owns 651,972 shares in the company, valued at $11,096,563.44. The sale was disclosed in a filing with the SEC, which is accessible through this link. Over the last three months, insiders purchased 1,045 shares of company stock valued at $15,597 and sold 5,953 shares valued at $101,438. Company insiders own 4.60% of the company's stock.

Hedge Funds Weigh In On Modiv Industrial

An institutional investor recently raised its position in Modiv Industrial stock. State of New Jersey Common Pension Fund D grew its stake in shares of Modiv Industrial, Inc. (NYSE:MDV - Free Report) by 17.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 46,000 shares of the company's stock after buying an additional 6,935 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.61% of Modiv Industrial worth $768,000 as of its most recent filing with the Securities and Exchange Commission. 8.21% of the stock is owned by institutional investors and hedge funds.

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.