Modiv (NYSE:MDV) Price Target Cut to $19.00 by Analysts at B. Riley

Modiv (NYSE:MDVGet Rating) had its price target reduced by B. Riley from $22.00 to $19.00 in a report issued on Monday morning, The Fly reports.

MDV has been the subject of a number of other reports. Janney Montgomery Scott initiated coverage on shares of Modiv in a research note on Friday, September 30th. They set a buy rating and a $20.00 price objective for the company. EF Hutton Acquisition Co. I dropped their price objective on shares of Modiv from $21.00 to $17.00 and set a buy rating for the company in a research note on Tuesday, November 15th. Finally, LADENBURG THALM/SH SH initiated coverage on shares of Modiv in a research note on Friday, November 11th. They set a buy rating and a $18.50 price objective for the company. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Modiv currently has an average rating of Buy and an average price target of $19.30.

Modiv Trading Up 0.7 %

MDV stock opened at $12.17 on Monday. The firm has a 50 day moving average of $12.07 and a 200-day moving average of $14.73. Modiv has a 12-month low of $9.61 and a 12-month high of $89.99.

Modiv Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, April 25th. Shareholders of record on Friday, March 31st will be paid a $0.0958 dividend. The ex-dividend date is Thursday, March 30th. This represents a $1.15 annualized dividend and a yield of 9.45%. Modiv’s payout ratio is currently -82.73%.

Institutional Trading of Modiv

Several hedge funds and other institutional investors have recently bought and sold shares of MDV. Vanguard Group Inc. grew its stake in Modiv by 56.7% in the 3rd quarter. Vanguard Group Inc. now owns 307,385 shares of the company’s stock worth $4,488,000 after acquiring an additional 111,266 shares during the period. BlackRock Inc. grew its stake in Modiv by 365.9% in the 3rd quarter. BlackRock Inc. now owns 80,380 shares of the company’s stock worth $1,174,000 after acquiring an additional 63,129 shares during the period. Millennium Management LLC purchased a new stake in Modiv in the 2nd quarter worth approximately $298,000. Laurel Wealth Advisors Inc. acquired a new position in shares of Modiv in the 2nd quarter valued at $216,000. Finally, UBS Group AG boosted its holdings in shares of Modiv by 851.9% in the 3rd quarter. UBS Group AG now owns 10,024 shares of the company’s stock valued at $146,000 after purchasing an additional 8,971 shares during the last quarter. 21.09% of the stock is owned by hedge funds and other institutional investors.

About Modiv

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Modiv Inc, (the Company) was incorporated on May 14, 2015 as a Maryland corporation. The Company was formed to primarily invest, directly or indirectly, in real estate owning entities which own single-tenant income-producing properties located in the United States, which are leased to creditworthy tenants under long-term net leases.

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