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

Modiv Industrial, Inc. (NYSE:MDV) was the recipient of a large decrease in short interest during the month of May. As of May 15th, there was short interest totaling 94,744 shares, a decrease of 67.3% from the April 30th total of 289,741 shares. Based on an average daily trading volume, of 169,530 shares, the short-interest ratio is presently 0.6 days. Approximately 0.9% of the shares of the company are short sold.

Hedge Funds Weigh In On Modiv Industrial

A number of institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC increased its stake in Modiv Industrial by 130.1% in the 2nd quarter. Geode Capital Management LLC now owns 224,351 shares of the company’s stock worth $3,160,000 after acquiring an additional 126,850 shares during the last quarter. State Street Corp increased its stake in Modiv Industrial by 12.0% in the 4th quarter. State Street Corp now owns 120,787 shares of the company’s stock worth $1,750,000 after acquiring an additional 12,970 shares during the last quarter. State of New Jersey Common Pension Fund D increased its stake in Modiv Industrial by 20.0% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 90,000 shares of the company’s stock worth $1,295,000 after acquiring an additional 15,000 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Modiv Industrial by 17.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 82,199 shares of the company’s stock worth $1,177,000 after acquiring an additional 12,439 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in Modiv Industrial by 14.7% in the 1st quarter. Renaissance Technologies LLC now owns 75,700 shares of the company’s stock worth $1,084,000 after acquiring an additional 9,702 shares during the last quarter. 8.21% of the stock is currently owned by institutional investors.

Modiv Industrial Stock Down 2.1%

Shares of NYSE:MDV traded down $0.40 during midday trading on Friday, reaching $18.18. 76,026 shares of the company traded hands, compared to its average volume of 120,072. Modiv Industrial has a 12 month low of $13.80 and a 12 month high of $18.67. The firm has a market capitalization of $187.64 million, a price-to-earnings ratio of -44.33 and a beta of -0.14. The firm’s fifty day moving average price is $16.28 and its two-hundred day moving average price is $15.32.

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

Modiv Industrial Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a $0.10 dividend. This represents a c) dividend on an annualized basis and a yield of 6.6%. The ex-dividend date is Tuesday, June 30th. Modiv Industrial’s dividend payout ratio is currently -292.68%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on MDV shares. Cantor Fitzgerald cut Modiv Industrial from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Freedom Capital cut Modiv Industrial from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Zacks Research cut Modiv Industrial from a “hold” rating to a “strong sell” rating in a research report on Monday, May 25th. Lucid Cap Mkts lowered Modiv Industrial from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Finally, Wall Street Zen lowered Modiv Industrial from a “hold” rating to a “sell” rating in a research note on Sunday, May 10th. Five research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Modiv Industrial has an average rating of “Reduce” and an average target price of $18.50.

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.