Cantor Fitzgerald Downgrades Modiv Industrial (NYSE:MDV) to Hold

Modiv Industrial (NYSE:MDV) was downgraded by research analysts at Cantor Fitzgerald from a “strong-buy” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

A number of other research analysts also recently issued reports on MDV. Wall Street Zen upgraded Modiv Industrial from a “sell” rating to a “hold” rating in a report on Saturday. Weiss Ratings raised Modiv Industrial from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, January 26th. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Modiv Industrial currently has a consensus rating of “Hold” and a consensus price target of $18.00.

Modiv Industrial Trading Down 0.8%

MDV opened at $17.79 on Monday. The stock has a market capitalization of $183.52 million, a P/E ratio of -57.37 and a beta of -0.14. Modiv Industrial has a 12 month low of $13.80 and a 12 month high of $18.05. The firm’s fifty day simple moving average is $15.17 and its 200 day simple moving average is $14.87.

Modiv Industrial (NYSE:MDV) last released its earnings results on Wednesday, March 25th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.33). The firm had revenue of $11.07 million for the quarter, compared to the consensus estimate of $11.38 million. Modiv Industrial had a return on equity of 0.52% and a net margin of 2.30%. On average, equities research analysts predict that Modiv Industrial will post 1.5 EPS for the current fiscal year.

Institutional Trading of Modiv Industrial

A number of hedge funds have recently made changes to their positions in MDV. Royal Bank of Canada increased its holdings in shares of Modiv Industrial by 648.8% during the 4th quarter. Royal Bank of Canada now owns 2,209 shares of the company’s stock worth $32,000 after acquiring an additional 1,914 shares during the last quarter. BNP Paribas Financial Markets raised its stake in Modiv Industrial by 65.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,185 shares of the company’s stock valued at $32,000 after acquiring an additional 866 shares during the period. Bank of America Corp DE lifted its holdings in Modiv Industrial by 3,913.3% during the 2nd quarter. Bank of America Corp DE now owns 3,010 shares of the company’s stock valued at $42,000 after purchasing an additional 2,935 shares during the last quarter. JPMorgan Chase & Co. boosted 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 worth $69,000 after purchasing an additional 4,420 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Modiv Industrial during the second quarter worth $72,000. 8.21% of the stock is owned by institutional investors and hedge funds.

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.