Modiv Industrial, Inc. (NYSE:MDV) Sees Significant Drop in Short Interest

Modiv Industrial, Inc. (NYSE:MDV) was the target of a significant drop in short interest in January. As of January 15th, there was short interest totaling 214,143 shares, a drop of 19.3% from the December 31st total of 265,369 shares. Approximately 2.1% of the shares of the stock are short sold. Based on an average trading volume of 36,015 shares, the days-to-cover ratio is presently 5.9 days. Based on an average trading volume of 36,015 shares, the days-to-cover ratio is presently 5.9 days. Approximately 2.1% of the shares of the stock are short sold.

Modiv Industrial Price Performance

Modiv Industrial stock traded down $0.07 during trading on Wednesday, reaching $15.13. 33,575 shares of the company were exchanged, compared to its average volume of 36,251. The stock’s 50 day simple moving average is $14.72 and its two-hundred day simple moving average is $14.70. The company has a market capitalization of $155.41 million, a P/E ratio of -58.20 and a beta of -0.31. Modiv Industrial has a 52-week low of $13.62 and a 52-week high of $17.15.

Modiv Industrial Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a c) dividend on an annualized basis and a yield of 7.9%. Modiv Industrial’s payout ratio is -461.54%.

Institutional Trading of Modiv Industrial

Several hedge funds have recently made changes to their positions in MDV. BNP Paribas Financial Markets lifted its stake in Modiv Industrial by 65.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,185 shares of the company’s stock worth $32,000 after acquiring an additional 866 shares in the last quarter. Police & Firemen s Retirement System of New Jersey purchased a new stake in Modiv Industrial during the second quarter worth about $30,000. Penserra Capital Management LLC increased its stake in Modiv Industrial by 3.5% during the third quarter. Penserra Capital Management LLC now owns 74,973 shares of the company’s stock worth $1,097,000 after purchasing an additional 2,535 shares during the period. Bank of America Corp DE lifted its position in shares of Modiv Industrial by 3,913.3% during the second quarter. Bank of America Corp DE now owns 3,010 shares of the company’s stock worth $42,000 after purchasing an additional 2,935 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Modiv Industrial by 858.3% in the second quarter. JPMorgan Chase & Co. now owns 4,935 shares of the company’s stock valued at $69,000 after purchasing an additional 4,420 shares during the period. Hedge funds and other institutional investors own 8.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on MDV. Weiss Ratings raised Modiv Industrial from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, January 26th. Cantor Fitzgerald started coverage on shares of Modiv Industrial in a research report on Wednesday. They issued an “overweight” rating and a $18.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target 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.