Modiv Industrial, Inc. (NYSE:MDV) Receives Average Rating of “Reduce” from Brokerages

Shares of Modiv Industrial, Inc. (NYSE:MDV) have earned an average rating of “Reduce” from the six analysts that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating and five have issued a hold rating on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $18.50.

MDV has been the subject of several analyst reports. Zacks Research downgraded shares of Modiv Industrial from a “hold” rating to a “strong sell” rating in a report on Monday, May 25th. Alliance Global Partners reissued a “neutral” rating and set a $19.00 price target (up from $18.00) on shares of Modiv Industrial in a report on Thursday, May 7th. Freedom Capital downgraded shares of Modiv Industrial from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Wall Street Zen downgraded shares of Modiv Industrial from a “hold” rating to a “sell” rating in a report on Sunday, May 10th. Finally, Lucid Cap Mkts downgraded shares of Modiv Industrial from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th.

Hedge Funds Weigh In On Modiv Industrial

Institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets raised its stake in shares of Modiv Industrial by 65.7% in the third 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 raised its stake in shares of Modiv Industrial by 648.8% in the fourth 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 raised its stake in shares of Modiv Industrial by 3,913.3% in the second 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. raised its stake in shares of Modiv Industrial by 858.3% in the second 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. bought a new position in shares of Modiv Industrial in the second quarter worth about $72,000. 8.21% of the stock is owned by institutional investors.

Modiv Industrial Stock Down 0.9%

Shares of MDV stock opened at $18.00 on Tuesday. Modiv Industrial has a 12-month low of $13.80 and a 12-month high of $18.67. The company has a market capitalization of $185.72 million, a P/E ratio of -43.89 and a beta of -0.09. The firm has a 50-day moving average price of $16.35 and a 200 day moving average price of $15.35.

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 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 firm had revenue of $11.70 million for the quarter, compared to the consensus estimate of $11.43 million. As a group, research analysts expect that Modiv Industrial will post 1.39 earnings per share for the current year.

Modiv Industrial Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a c) dividend on an annualized basis and a dividend yield of 6.7%. Modiv Industrial’s 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.