Modiv Industrial, Inc. (NYSE:MDV) Short Interest Up 60.7% in April

Modiv Industrial, Inc. (NYSE:MDV - Get Free Report) was the target of a large growth in short interest in the month of April. As of April 15th, there was short interest totalling 17,200 shares, a growth of 60.7% from the March 31st total of 10,700 shares. Currently, 0.2% of the company's shares are sold short. Based on an average daily trading volume, of 28,000 shares, the days-to-cover ratio is currently 0.6 days.

Insider Buying and Selling

In related news, major shareholder First City Investment Group, L sold 3,654 shares of the 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 approximately $11,096,563.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders have bought 1,262 shares of company stock valued at $18,620 and have sold 5,953 shares valued at $101,438. Corporate insiders own 4.60% of the company's stock.

Institutional Trading of Modiv Industrial

An institutional investor recently raised its position in Modiv Industrial stock. State of New Jersey Common Pension Fund D increased its position in Modiv Industrial, Inc. (NYSE:MDV - Free Report) by 17.8% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 46,000 shares of the company's stock after purchasing an additional 6,935 shares during the period. State of New Jersey Common Pension Fund D owned 0.61% of Modiv Industrial worth $768,000 at the end of the most recent reporting period. Institutional investors own 8.21% of the company's stock.

Modiv Industrial Stock Performance

Shares of Modiv Industrial stock remained flat at $15.00 during trading hours on Friday. The stock had a trading volume of 37,494 shares, compared to its average volume of 23,479. The stock has a fifty day moving average of $15.41 and a 200 day moving average of $15.18. The stock has a market cap of $137.60 million, a P/E ratio of -10.56, a PEG ratio of 2.18 and a beta of -0.31. Modiv Industrial has a 12 month low of $10.44 and a 12 month high of $19.12.

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

Modiv Industrial Announces Dividend

The firm also recently announced a dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Tuesday, April 30th will be paid a dividend of $0.0958 per share. The ex-dividend date of this dividend is Monday, April 29th. Modiv Industrial's dividend payout ratio is presently -80.99%.

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.