Short Interest in Modiv Industrial, Inc. (NYSE:MDV) Decreases By 38.6%

Modiv Industrial, Inc. (NYSE:MDV) saw a large decline in short interest in the month of July. As of July 15th, there was short interest totaling 103,193 shares, a decline of 38.6% from the June 30th total of 168,037 shares. Approximately 1.0% of the shares of the company are short sold. Based on an average daily trading volume, of 58,919 shares, the short-interest ratio is currently 1.8 days.

Insider Activity at Modiv Industrial

In other Modiv Industrial news, CEO Aaron Scott Halfacre purchased 5,766 shares of the business’s stock in a transaction dated Friday, June 26th. The stock was bought at an average cost of $17.49 per share, for a total transaction of $100,847.34. Following the completion of the acquisition, the chief executive officer directly owned 134,245 shares in the company, valued at $2,347,945.05. This represents a 4.49% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Modiv Industrial

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. boosted its stake in Modiv Industrial by 38.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 34,557 shares of the company’s stock valued at $555,000 after buying an additional 9,615 shares in the last quarter. Jane Street Group LLC lifted its holdings in shares of Modiv Industrial by 129.2% during the first quarter. Jane Street Group LLC now owns 45,494 shares of the company’s stock valued at $730,000 after acquiring an additional 25,645 shares during the period. Geode Capital Management LLC boosted its stake in shares of Modiv Industrial by 130.1% in the 2nd quarter. Geode Capital Management LLC now owns 224,351 shares of the company’s stock valued at $3,160,000 after purchasing an additional 126,850 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Modiv Industrial by 858.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 4,935 shares of the company’s stock worth $69,000 after purchasing an additional 4,420 shares during the last quarter. Finally, Rhumbline Advisers acquired a new stake in shares of Modiv Industrial during the 2nd quarter worth about $215,000. Institutional investors own 8.21% of the company’s stock.

Modiv Industrial Stock Down 1.3%

Modiv Industrial stock traded down $0.23 on Friday, hitting $17.30. The company’s stock had a trading volume of 54,431 shares, compared to its average volume of 48,767. Modiv Industrial has a one year low of $13.80 and a one year high of $18.96. The firm has a market cap of $178.48 million, a P/E ratio of -42.18 and a beta of -0.07. The company has a fifty day moving average price of $17.95 and a 200-day moving average price of $16.36.

Modiv Industrial (NYSE:MDV) last issued its earnings results on Friday, May 8th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.12). Modiv Industrial had a net margin of 0.33% and a return on equity of 0.07%. The business had revenue of $11.70 million for the quarter, compared to analyst estimates of $11.43 million. Analysts anticipate that Modiv Industrial will post 1.39 EPS for the current year.

Modiv Industrial Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, August 10th. Stockholders of record on Monday, August 3rd will be paid a $0.10 dividend. This represents a c) annualized dividend and a dividend yield of 6.9%. The ex-dividend date is Monday, August 3rd. Modiv Industrial’s dividend payout ratio is currently -292.68%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MDV. Cantor Fitzgerald cut shares of Modiv Industrial from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Freedom Capital downgraded shares of Modiv Industrial from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Alliance Global Partners reaffirmed a “neutral” rating and set a $19.00 price objective (up from $18.00) on shares of Modiv Industrial in a research report on Thursday, May 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Modiv Industrial in a research report on Wednesday, July 15th. Finally, Wall Street Zen lowered Modiv Industrial from a “hold” rating to a “sell” rating in a research note on Sunday, May 10th. Six investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $18.50.

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.