Modiv Industrial, Inc. (NYSE:MDV) Sees Large Decrease in Short Interest

Modiv Industrial, Inc. (NYSE:MDV) saw a large drop in short interest in July. As of July 15th, there was short interest totaling 103,193 shares, a drop of 38.6% from the June 30th total of 168,037 shares. Approximately 1.0% of the shares of the company are short sold. Based on an average trading volume of 58,919 shares, the days-to-cover ratio is currently 1.8 days.

Modiv Industrial Trading Down 1.0%

MDV traded down $0.17 during trading on Thursday, reaching $17.54. 46,505 shares of the company were exchanged, compared to its average volume of 64,473. The stock has a market cap of $181.02 million, a P/E ratio of -42.78 and a beta of -0.07. Modiv Industrial has a 52 week low of $13.80 and a 52 week high of $18.96. The firm has a 50 day moving average of $17.98 and a 200 day moving average of $16.33.

Modiv Industrial (NYSE:MDV) last announced its quarterly earnings results on Friday, May 8th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.12). The firm had revenue of $11.70 million for the quarter, compared to analyst estimates of $11.43 million. Modiv Industrial had a net margin of 0.33% and a return on equity of 0.07%. As a group, analysts forecast that Modiv Industrial will post 1.39 earnings per share for the current fiscal year.

Modiv Industrial Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, August 10th. Investors of record on Monday, August 3rd will be given a $0.10 dividend. The ex-dividend date is Monday, August 3rd. This represents a c) annualized dividend and a yield of 6.8%. Modiv Industrial’s dividend payout ratio (DPR) is currently -292.68%.

Insider Buying and Selling at Modiv Industrial

In other news, CEO Aaron Scott Halfacre purchased 3,586 shares of the company’s stock in a transaction that occurred on Tuesday, June 30th. The shares were acquired at an average cost of $17.34 per share, with a total value of $62,181.24. Following the transaction, the chief executive officer owned 137,830 shares in the company, valued at approximately $2,389,972.20. The trade was a 2.67% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Goldman Sachs Group Inc. increased its stake in shares of Modiv Industrial by 38.5% in the first quarter. Goldman Sachs Group Inc. now owns 34,557 shares of the company’s stock valued at $555,000 after purchasing an additional 9,615 shares during the period. Jane Street Group LLC grew its holdings in Modiv Industrial by 129.2% in the 1st quarter. Jane Street Group LLC now owns 45,494 shares of the company’s stock worth $730,000 after buying an additional 25,645 shares in the last quarter. Geode Capital Management LLC increased its position in Modiv Industrial by 130.1% in the 2nd quarter. Geode Capital Management LLC now owns 224,351 shares of the company’s stock valued at $3,160,000 after acquiring an additional 126,850 shares during the period. JPMorgan Chase & Co. increased its position in Modiv Industrial by 858.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 4,935 shares of the company’s stock valued at $69,000 after acquiring an additional 4,420 shares during the period. Finally, Rhumbline Advisers bought a new stake in Modiv Industrial during the 2nd quarter valued at $215,000. Institutional investors own 8.21% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on MDV shares. Zacks Research raised shares of Modiv Industrial from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Modiv Industrial in a report on Wednesday, July 15th. Cantor Fitzgerald downgraded shares of Modiv Industrial from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Alliance Global Partners reiterated a “neutral” rating and set a $19.00 price objective (up from $18.00) on shares of Modiv Industrial in a research note on Thursday, May 7th. Finally, Lucid Cap Mkts cut shares of Modiv Industrial from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Six analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $18.50.

About Modiv Industrial

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.