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

Modiv Industrial, Inc. (NYSE:MDV) was the target of a large drop in short interest in March. As of March 15th, there was short interest totalling 12,800 shares, a drop of 53.8% from the February 28th total of 27,700 shares. Based on an average trading volume of 38,400 shares, the short-interest ratio is currently 0.3 days. Approximately 0.1% of the company’s stock are sold short.

Modiv Industrial Stock Performance

MDV traded down $0.10 during mid-day trading on Friday, reaching $15.76. 41,801 shares of the stock were exchanged, compared to its average volume of 31,150. The company has a 50 day moving average price of $15.21 and a two-hundred day moving average price of $15.77. The stock has a market capitalization of $157.08 million, a PE ratio of -143.27 and a beta of -0.22. Modiv Industrial has a 1 year low of $13.69 and a 1 year high of $18.11.

Modiv Industrial Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a $0.0975 dividend. This represents a $1.17 dividend on an annualized basis and a yield of 7.42%. The ex-dividend date is Monday, June 30th. Modiv Industrial’s payout ratio is 468.00%.

Institutional Investors Weigh In On Modiv Industrial

Several institutional investors and hedge funds have recently added to or reduced their stakes in MDV. Barclays PLC bought a new position in shares of Modiv Industrial in the third quarter valued at approximately $87,000. Geode Capital Management LLC increased 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 during the last quarter. Sumitomo Mitsui Trust Group Inc. bought a new stake in Modiv Industrial in the fourth quarter worth about $172,000. Daiwa Securities Group Inc. purchased a new position in Modiv Industrial in the third quarter valued at about $45,000. Finally, State Street Corp grew its position in shares of Modiv Industrial by 16.3% during the 3rd quarter. State Street Corp now owns 15,135 shares of the company’s stock valued at $256,000 after acquiring an additional 2,121 shares during the period. Hedge funds and other institutional investors own 8.21% of the company’s stock.

Modiv Industrial Company Profile

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.