Modiv Industrial, Inc. (NYSE:MDV) Receives Average Recommendation of “Hold” from Analysts

Modiv Industrial, Inc. (NYSE:MDVGet Free Report) has earned an average recommendation of “Hold” from the six ratings firms that are covering the firm, Marketbeat reports. Six equities research analysts have rated the stock with a hold recommendation. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $18.50.

MDV has been the subject of a number of research reports. Zacks Research raised shares of Modiv Industrial from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 23rd. Lucid Cap Mkts downgraded Modiv Industrial from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Cantor Fitzgerald downgraded Modiv Industrial from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Freedom Capital cut shares of Modiv Industrial from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Modiv Industrial in a research report on Wednesday, July 15th.

Get Our Latest Stock Report on MDV

Insider Activity at Modiv Industrial

In other news, CEO Aaron Scott Halfacre purchased 3,586 shares of the firm’s stock in a transaction on Tuesday, June 30th. The stock was purchased at an average cost of $17.34 per share, with a total value of $62,181.24. Following the purchase, the chief executive officer owned 137,830 shares in the company, valued at $2,389,972.20. This trade represents a 2.67% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On Modiv Industrial

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

Modiv Industrial Stock Performance

NYSE:MDV opened at $18.25 on Wednesday. The company has a fifty day moving average of $18.02 and a two-hundred day moving average of $16.19. The stock has a market capitalization of $188.32 million, a PE ratio of -44.51 and a beta of -0.07. Modiv Industrial has a fifty-two week low of $13.80 and a fifty-two week high of $18.96.

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

Modiv Industrial Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, August 10th. Stockholders of record on Monday, August 3rd will be issued a $0.10 dividend. The ex-dividend date of this dividend is Monday, August 3rd. This represents a c) annualized dividend and a dividend yield of 6.6%. Modiv Industrial’s payout ratio is -292.68%.

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.

Further Reading

Analyst Recommendations for Modiv Industrial (NYSE:MDV)

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