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

by · The Markets Daily

Modiv Industrial, Inc. (NYSE:MDVGet Free Report) 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 sold short. Based on an average daily trading volume, of 36,015 shares, the days-to-cover ratio is presently 5.9 days. Based on an average daily 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 sold short.

Modiv Industrial Stock Down 0.4%

NYSE MDV traded down $0.07 on Wednesday, hitting $15.13. The company’s stock had a trading volume of 33,575 shares, compared to its average volume of 36,251. Modiv Industrial has a 1-year low of $13.62 and a 1-year high of $17.15. The company’s 50-day moving average is $14.72 and its 200 day moving average is $14.70. The firm has a market cap of $155.41 million, a PE ratio of -58.20 and a beta of -0.31.

Modiv Industrial Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages have commented on MDV. Cantor Fitzgerald initiated coverage on Modiv Industrial in a research note on Wednesday. They set an “overweight” rating and a $18.00 target price for the company. Weiss Ratings upgraded shares of Modiv Industrial from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, January 26th. One equities research 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. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $18.00.

Check Out Our Latest Report on Modiv Industrial

Hedge Funds Weigh In On Modiv Industrial

A number of hedge funds have recently made changes to their positions in the stock. Police & Firemen s Retirement System of New Jersey acquired a new position in shares of Modiv Industrial in the second quarter worth approximately $30,000. BNP Paribas Financial Markets increased its position in Modiv Industrial by 65.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,185 shares of the company’s stock valued at $32,000 after purchasing an additional 866 shares during the period. Bank of America Corp DE increased its position in Modiv Industrial by 3,913.3% during the 2nd quarter. Bank of America Corp DE now owns 3,010 shares of the company’s stock valued at $42,000 after purchasing an additional 2,935 shares during the period. JPMorgan Chase & Co. raised its holdings in Modiv Industrial by 858.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 4,935 shares of the company’s stock worth $69,000 after purchasing an additional 4,420 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Modiv Industrial in the 2nd quarter worth approximately $72,000. 8.21% of the stock is currently owned by institutional investors.

About Modiv Industrial

(Get Free Report)

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.

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