Freedom Capital lowered shares of Modiv Industrial (NYSE:MDV – Free Report) from a strong-buy rating to a hold rating in a report released on Monday morning,Zacks.com reports.
A number of other research firms have also commented on MDV. Wall Street Zen raised Modiv Industrial from a “sell” rating to a “hold” rating in a research report on Saturday. Cantor Fitzgerald lowered Modiv Industrial from a “strong-buy” rating to a “hold” rating in a report on Monday. Finally, Weiss Ratings upgraded shares of Modiv Industrial from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, January 26th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $18.00.
View Our Latest Analysis on Modiv Industrial
Modiv Industrial Stock Down 0.8%
Modiv Industrial (NYSE:MDV – Get Free Report) last released its quarterly earnings data on Wednesday, March 25th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.33). The business had revenue of $11.07 million for the quarter, compared to analyst estimates of $11.38 million. Modiv Industrial had a return on equity of 0.52% and a net margin of 2.30%. On average, analysts expect that Modiv Industrial will post 1.5 EPS 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 6.7%. The ex-dividend date is Tuesday, June 30th. Modiv Industrial’s dividend payout ratio is currently -387.10%.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Modiv Industrial in the second quarter worth approximately $72,000. JPMorgan Chase & Co. lifted its position in Modiv Industrial by 858.3% during 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 last quarter. Bank of America Corp DE grew its stake in Modiv Industrial by 3,913.3% in the 2nd quarter. Bank of America Corp DE now owns 3,010 shares of the company’s stock worth $42,000 after buying an additional 2,935 shares in the last quarter. Royal Bank of Canada grew its stake in Modiv Industrial by 648.8% in the 4th quarter. Royal Bank of Canada now owns 2,209 shares of the company’s stock worth $32,000 after buying an additional 1,914 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in shares of Modiv Industrial by 65.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,185 shares of the company’s stock worth $32,000 after buying an additional 866 shares during the last quarter. Hedge funds and other institutional investors own 8.21% of the company’s stock.
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.
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