Modiv Industrial, Inc. (NYSE:MDV) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Modiv Industrial, Inc. (NYSE:MDV) have been given a consensus recommendation of “Hold” by the six ratings firms that are currently covering the firm, Marketbeat reports. Six research analysts have rated the stock with a hold recommendation. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $18.50.

Several research firms have weighed in on MDV. Lucid Cap Mkts cut Modiv Industrial from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Zacks Research upgraded Modiv Industrial from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 23rd. Weiss Ratings reissued a “hold (c)” rating on shares of Modiv Industrial in a report on Wednesday, July 15th. Freedom Capital downgraded Modiv Industrial from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Finally, Wall Street Zen downgraded Modiv Industrial from a “hold” rating to a “sell” rating in a research report on Sunday, May 10th.

Insider Activity

In related news, CEO Aaron Scott Halfacre acquired 3,586 shares of the stock in a transaction that occurred on Tuesday, June 30th. The stock was acquired at an average cost of $17.34 per share, for a total transaction 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. This trade represents a 2.67% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.80% of the company’s stock.

Institutional Trading of Modiv Industrial

Hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC increased its holdings in Modiv Industrial by 130.1% in the 2nd quarter. Geode Capital Management LLC now owns 224,351 shares of the company’s stock worth $3,160,000 after purchasing an additional 126,850 shares in the last quarter. Meixler Investment Management Ltd. bought a new position in Modiv Industrial in the fourth quarter valued at about $1,023,000. North Star Investment Management Corp. acquired a new stake in shares of Modiv Industrial during the first quarter valued at about $859,000. Two Sigma Investments LP acquired a new stake in shares of Modiv Industrial during the third quarter valued at about $824,000. Finally, Jane Street Group LLC boosted its stake 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 purchasing an additional 25,645 shares in the last quarter. Institutional investors own 8.21% of the company’s stock.

Modiv Industrial Trading Down 0.1%

Shares of NYSE:MDV opened at $17.65 on Wednesday. The firm has a 50 day moving average of $18.02 and a 200-day moving average of $16.26. The stock has a market capitalization of $182.11 million, a PE ratio of -43.04 and a beta of -0.07. Modiv Industrial has a 12 month low of $13.80 and a 12 month high of $18.96.

Modiv Industrial (NYSE:MDV) last posted 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). The firm had revenue of $11.70 million for the quarter, compared to analyst estimates of $11.43 million. Modiv Industrial had a return on equity of 0.07% and a net margin of 0.33%. On average, research analysts predict that Modiv Industrial will post 1.39 EPS for the current fiscal year.

Modiv Industrial Dividend Announcement

The business also recently declared 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) dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date is Monday, August 3rd. Modiv Industrial’s dividend payout ratio (DPR) is presently -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.