Short Interest in Modiv Industrial, Inc. (NYSE:MDV) Grows By 59.1%

Key Points

• Short interest surged 59.1% to 327,625 shares as of March 31, equal to 3.3% of shares sold short and a days-to-cover ratio of 4.5 based on average volume.
• Q1 results missed expectations—Modiv reported $0.02 EPS vs. $0.35 forecast and slightly below‑forecast revenue; the company has a market cap of $158.3M and a negative P/E (-49.49).
• Modiv announced a monthly $0.10 dividend (annualized yield ~7.8%), and analysts hold a consensus Buy rating with an average price target of $18.00.

Modiv Industrial, Inc. (NYSE:MDV - Get Free Report) saw a significant increase in short interest during the month of March. As of March 31st, there was short interest totaling 327,625 shares, an increase of 59.1% from the March 15th total of 205,871 shares. Based on an average trading volume of 73,596 shares, the days-to-cover ratio is presently 4.5 days. Currently, 3.3% of the shares of the stock are sold short.

Institutional Investors Weigh In On Modiv Industrial

A number of hedge funds and other institutional investors have recently made changes to their positions in MDV. Geode Capital Management LLC grew its position in shares of Modiv Industrial by 130.1% in the second quarter. Geode Capital Management LLC now owns 224,351 shares of the company's stock valued at $3,160,000 after purchasing an additional 126,850 shares during the period. Meixler Investment Management Ltd. purchased a new stake in shares of Modiv Industrial in the fourth quarter valued at $1,023,000. Two Sigma Investments LP purchased a new stake in shares of Modiv Industrial in the third quarter valued at $824,000. Jane Street Group LLC grew its position in shares of Modiv Industrial by 129.2% in the first quarter. Jane Street Group LLC now owns 45,494 shares of the company's stock valued at $730,000 after purchasing an additional 25,645 shares during the period. Finally, State of New Jersey Common Pension Fund D grew its position in shares of Modiv Industrial by 50.0% in the third quarter. State of New Jersey Common Pension Fund D now owns 75,000 shares of the company's stock valued at $1,098,000 after purchasing an additional 25,000 shares during the period. Hedge funds and other institutional investors own 8.21% of the company's stock.

Modiv Industrial Stock Up 1.4%

NYSE MDV opened at $15.34 on Tuesday. Modiv Industrial has a fifty-two week low of $13.80 and a fifty-two week high of $17.15. The stock has a market cap of $158.32 million, a price-to-earnings ratio of -49.49 and a beta of -0.25. The business has a fifty day moving average of $14.89 and a 200-day moving average of $14.72.

Modiv Industrial (NYSE:MDV - Get Free Report) last announced its quarterly earnings data on Wednesday, March 25th. The company reported $0.02 EPS for the quarter, missing analysts' consensus estimates of $0.35 by ($0.33). The business had revenue of $11.07 million during the quarter, compared to analysts' expectations of $11.38 million. Modiv Industrial had a net margin of 2.30% and a return on equity of 0.52%. As a group, analysts anticipate that Modiv Industrial will post 1.18 EPS for the current year.

Modiv Industrial Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a c) dividend on an annualized basis and a dividend yield of 7.8%. Modiv Industrial's payout ratio is currently -387.10%.

Analyst Upgrades and Downgrades

MDV has been the subject of a number of analyst reports. Weiss Ratings raised Modiv Industrial from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday, January 26th. Cantor Fitzgerald reissued an "overweight" rating and issued a $18.00 price target on shares of Modiv Industrial in a report on Tuesday, April 7th. Finally, Wall Street Zen cut Modiv Industrial from a "hold" rating to a "sell" rating in a report on Saturday, March 28th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $18.00.

Modiv Industrial Company Profile

Modiv Industrial, Inc NYSE: MDV is a publicly traded real estate investment trust that specializes in the acquisition, ownership and management of single-tenant industrial properties. The company's portfolio is anchored by net-lease agreements with corporate and public sector tenants, providing stable, long-term cash flows. Modiv Industrial focuses on light manufacturing facilities, warehouse and distribution centers, and similar industrial real estate assets that serve as critical links in supply chains.

Modiv Industrial pursues a geographically diversified strategy, targeting properties in key U.S.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.