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

Modiv Industrial, Inc. (NYSE:MDV) has been given an average rating of “Hold” by the six brokerages that are presently covering the company, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold rating. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $18.50.

Several equities analysts have recently issued reports on MDV shares. Freedom Capital cut Modiv Industrial from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Wall Street Zen cut Modiv Industrial from a “hold” rating to a “sell” rating in a research note on Sunday, May 10th. Zacks Research upgraded Modiv Industrial from a “strong sell” rating to a “hold” rating in a research note on Tuesday. Lucid Cap Mkts cut Modiv Industrial from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Finally, Alliance Global Partners reiterated a “neutral” rating and issued a $19.00 price objective (up from $18.00) on shares of Modiv Industrial in a research note on Thursday, May 7th.

Modiv Industrial Stock Performance

Shares of MDV opened at $17.52 on Friday. The stock has a 50-day simple moving average of $17.62 and a 200-day simple moving average of $15.80. The stock has a market capitalization of $180.87 million, a PE ratio of -42.73 and a beta of -0.08. Modiv Industrial 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 data 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 company had revenue of $11.70 million during the quarter, compared to analysts’ expectations of $11.43 million. Modiv Industrial had a net margin of 0.33% and a return on equity of 0.07%. Analysts predict that Modiv Industrial will post 1.39 EPS for the current year.

Modiv Industrial Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, August 10th. Investors of record on Monday, August 3rd will be paid a dividend of $0.10 per share. The ex-dividend date is Monday, August 3rd. This represents a c) annualized dividend and a yield of 6.8%. Modiv Industrial’s payout ratio is presently -292.68%.

Institutional Investors Weigh In On Modiv Industrial

Several institutional investors have recently added to or reduced their stakes in the business. Militia Capital Management LLC purchased a new stake in Modiv Industrial during the first quarter worth approximately $352,000. Bank of America Corp DE lifted its stake in Modiv Industrial by 27.8% during the first quarter. Bank of America Corp DE now owns 21,079 shares of the company’s stock worth $302,000 after purchasing an additional 4,586 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Modiv Industrial by 14.7% during the first quarter. Renaissance Technologies LLC now owns 75,700 shares of the company’s stock worth $1,084,000 after purchasing an additional 9,702 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Modiv Industrial by 17.8% during the first quarter. Dimensional Fund Advisors LP now owns 82,199 shares of the company’s stock worth $1,177,000 after purchasing an additional 12,439 shares during the last quarter. Finally, AlphaCentric Advisors LLC purchased a new stake in Modiv Industrial during the first quarter worth approximately $143,000. Hedge funds and other institutional investors own 8.21% of the company’s stock.

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.