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

by · The Cerbat Gem

Modiv Industrial, Inc. (NYSE:MDV – Get Free Report) was the recipient of a significant drop in short interest in the month of April. As of April 15th, there was short interest totalling 21,200 shares, a drop of 54.1% from the March 31st total of 46,200 shares. Based on an average daily trading volume, of 41,300 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.2% of the shares of the company are short sold.

Modiv Industrial Price Performance

Shares of NYSE:MDV remained flat at $16.64 during trading on Monday. 38,966 shares of the company were exchanged, compared to its average volume of 39,108. The stock has a market cap of $165.85 million, a PE ratio of -151.27 and a beta of -0.24. Modiv Industrial has a 1 year low of $13.62 and a 1 year high of $18.11. The company’s 50 day moving average price is $15.35 and its 200 day moving average price is $15.59.

Modiv Industrial Dividend Announcement

The firm also recently declared a dividend, which will be paid on Thursday, May 15th. Investors of record on Wednesday, April 30th will be paid a dividend of $0.0975 per share. The ex-dividend date of this dividend is Wednesday, April 30th. Modiv Industrial’s dividend payout ratio is currently 468.00%.

Institutional Trading of Modiv Industrial

Several institutional investors and hedge funds have recently modified their holdings of MDV. State Street Corp increased its position in shares of Modiv Industrial by 16.3% during the third quarter. State Street Corp now owns 15,135 shares of the company’s stock worth $256,000 after purchasing an additional 2,121 shares in the last quarter. Barclays PLC acquired a new position in Modiv Industrial in the third quarter valued at approximately $87,000. Geode Capital Management LLC boosted its holdings in Modiv Industrial by 25.3% during the third quarter. Geode Capital Management LLC now owns 91,777 shares of the company’s stock worth $1,543,000 after buying an additional 18,549 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. acquired a new stake in shares of Modiv Industrial during the 4th quarter valued at about $172,000. Finally, Bailard Inc. raised its stake in shares of Modiv Industrial by 5.7% during the 4th quarter. Bailard Inc. now owns 13,302 shares of the company’s stock worth $198,000 after buying an additional 715 shares during the period. Institutional investors own 8.21% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, B. Riley began coverage on Modiv Industrial in a research note on Tuesday, April 22nd. They set a “buy” rating and a $18.00 target price on the stock.

Get Our Latest Stock Report on MDV

About Modiv Industrial

(Get Free Report)

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.

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