Modiv Industrial, Inc. (NYSE:MDV) Short Interest Update

Modiv Industrial, Inc. (NYSE:MDV - Get Free Report) saw a large growth in short interest in May. As of May 31st, there was short interest totalling 44,800 shares, a growth of 115.4% from the May 15th total of 20,800 shares. Currently, 0.5% of the shares of the company are short sold. Based on an average trading volume of 47,200 shares, the days-to-cover ratio is presently 0.9 days.

Wall Street Analysts Forecast Growth

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

Modiv Industrial Stock Performance

MDV traded down $0.35 during trading on Friday, reaching $14.12. 60,170 shares of the company traded hands, compared to its average volume of 36,482. The firm has a fifty day simple moving average of $14.88 and a 200 day simple moving average of $15.14. Modiv Industrial has a 12-month low of $13.62 and a 12-month high of $18.11. The company has a market cap of $142.88 million, a P/E ratio of -128.36 and a beta of -0.31.

Modiv Industrial Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a $0.0975 dividend. This represents a $1.17 dividend on an annualized basis and a dividend yield of 8.29%. The ex-dividend date of this dividend is Monday, June 30th. Modiv Industrial's dividend payout ratio (DPR) is presently -1,300.00%.

Insider Buying and Selling

In related news, CEO Aaron Scott Halfacre acquired 3,121 shares of the business's stock in a transaction on Tuesday, June 3rd. The stock was acquired at an average cost of $14.10 per share, with a total value of $44,006.10. Following the acquisition, the chief executive officer now directly owns 120,000 shares in the company, valued at $1,692,000. This represents a 2.67% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In the last ninety days, insiders bought 6,792 shares of company stock valued at $97,131. 2.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Resona Asset Management Co. Ltd. purchased a new position in shares of Modiv Industrial in the fourth quarter valued at $50,000. CWM LLC grew its holdings in shares of Modiv Industrial by 12.4% in the first quarter. CWM LLC now owns 7,000 shares of the company's stock valued at $112,000 after purchasing an additional 770 shares in the last quarter. TT Capital Management LLC purchased a new position in shares of Modiv Industrial in the fourth quarter valued at $158,000. Jefferies Financial Group Inc. purchased a new position in shares of Modiv Industrial in the first quarter valued at $173,000. Finally, Sumitomo Mitsui Trust Group Inc. purchased a new position in shares of Modiv Industrial in the fourth quarter valued at $172,000. 8.21% of the stock is owned by hedge funds and other institutional investors.

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.