Short Interest in Modiv Industrial, Inc. (NYSE:MDV) Declines By 67.3%

Modiv Industrial, Inc. (NYSE:MDV) was the target of a significant drop in short interest during the month of May. As of May 15th, there was short interest totaling 94,744 shares, a drop of 67.3% from the April 30th total of 289,741 shares. Based on an average daily volume of 169,530 shares, the days-to-cover ratio is presently 0.6 days. Approximately 0.9% of the company’s shares are short sold.

Analyst Ratings Changes

Several analysts recently weighed in on MDV shares. Alliance Global Partners restated a “neutral” rating and issued a $19.00 price objective (up from $18.00) on shares of Modiv Industrial in a report on Thursday, May 7th. Zacks Research lowered Modiv Industrial from a “hold” rating to a “strong sell” rating in a research note on Monday, May 25th. Lucid Cap Mkts lowered Modiv Industrial from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Cantor Fitzgerald lowered Modiv Industrial from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Finally, Wall Street Zen lowered Modiv Industrial from a “hold” rating to a “sell” rating in a research note on Sunday, May 10th. Five investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Modiv Industrial currently has a consensus rating of “Reduce” and an average price target of $18.50.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets increased its stake in shares of Modiv Industrial by 65.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,185 shares of the company’s stock worth $32,000 after acquiring an additional 866 shares during the last quarter. Royal Bank of Canada increased its stake in shares of Modiv Industrial by 648.8% in 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. Bank of America Corp DE increased its stake in shares of Modiv Industrial by 3,913.3% in the 2nd quarter. Bank of America Corp DE now owns 3,010 shares of the company’s stock worth $42,000 after acquiring an additional 2,935 shares during the last quarter. JPMorgan Chase & Co. increased its stake 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 acquiring an additional 4,420 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Modiv Industrial in the 2nd quarter worth $72,000. 8.21% of the stock is owned by institutional investors and hedge funds.

Modiv Industrial Stock Performance

NYSE MDV traded down $0.40 during trading hours on Friday, reaching $18.18. The stock had a trading volume of 76,026 shares, compared to its average volume of 121,669. The stock has a fifty day moving average of $16.28 and a 200 day moving average of $15.32. The stock has a market cap of $187.57 million, a P/E ratio of -44.33 and a beta of -0.09. Modiv Industrial has a 52-week low of $13.80 and a 52-week high of $18.67.

Modiv Industrial (NYSE:MDV) last announced its quarterly earnings results on Friday, May 8th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.12). The company had revenue of $11.70 million during the quarter, compared to analyst estimates of $11.43 million. Modiv Industrial had a net margin of 0.33% and a return on equity of 0.07%. On average, equities research analysts forecast that Modiv Industrial will post 1.39 EPS for the current year.

Modiv Industrial Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a $0.10 dividend. This represents a c) annualized dividend and a yield of 6.6%. The ex-dividend date of this dividend is Tuesday, June 30th. Modiv Industrial’s dividend payout ratio is currently -292.68%.

About Modiv Industrial

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.