Insider Buying: Modiv Industrial (NYSE:MDV) CEO Purchases 3,586 Shares of Stock

Modiv Industrial, Inc. (NYSE:MDV) CEO Aaron Scott Halfacre purchased 3,586 shares of the stock in a transaction on Tuesday, June 30th. The shares were acquired at an average cost of $17.34 per share, with a total value of $62,181.24. Following the transaction, the chief executive officer directly owned 137,830 shares in the company, valued at $2,389,972.20. The trade was a 2.67% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website.

Aaron Scott Halfacre also recently made the following trade(s):

• On Friday, June 26th, Aaron Scott Halfacre acquired 5,766 shares of Modiv Industrial stock. The stock was acquired at an average price of $17.49 per share, for a total transaction of $100,847.34.

Modiv Industrial Stock Up 0.3%

Shares of MDV traded up $0.05 during mid-day trading on Wednesday, hitting $17.45. 50,795 shares of the company’s stock traded hands, compared to its average volume of 65,383. The firm has a market capitalization of $180.04 million, a P/E ratio of -42.65 and a beta of -0.08. The business’s 50-day moving average price is $17.69 and its 200-day moving average price is $15.85. Modiv Industrial, Inc. has a 1 year low of $13.80 and a 1 year high of $18.83.

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

Modiv Industrial Announces Dividend

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

Analysts Set New Price Targets

Several brokerages recently weighed in on MDV. Wall Street Zen cut Modiv Industrial from a “hold” rating to a “sell” rating in a research note on Sunday, May 10th. Alliance Global Partners reaffirmed a “neutral” rating and issued a $19.00 target price (up from $18.00) on shares of Modiv Industrial in a research report on Thursday, May 7th. Lucid Cap Mkts lowered shares of Modiv Industrial from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Zacks Research upgraded shares of Modiv Industrial from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 23rd. Finally, Freedom Capital downgraded shares of Modiv Industrial from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Six investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $18.50.

Institutional Investors Weigh In On Modiv Industrial

Institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC increased its holdings in shares of Modiv Industrial by 130.1% during the second quarter. Geode Capital Management LLC now owns 224,351 shares of the company’s stock valued at $3,160,000 after acquiring an additional 126,850 shares in the last quarter. Meixler Investment Management Ltd. purchased a new stake in Modiv Industrial during the 4th quarter valued at about $1,023,000. North Star Investment Management Corp. purchased a new stake in Modiv Industrial during the 1st quarter valued at about $859,000. Two Sigma Investments LP bought a new stake in Modiv Industrial during the 3rd quarter valued at about $824,000. Finally, Jane Street Group LLC increased its stake in Modiv Industrial by 129.2% during the 1st quarter. Jane Street Group LLC now owns 45,494 shares of the company’s stock valued at $730,000 after purchasing an additional 25,645 shares in the last quarter. 8.21% of the stock is owned by hedge funds and other institutional investors.

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.