Short Interest in Modiv Industrial, Inc. (NYSE:MDV) Drops By 19.3%

Modiv Industrial, Inc. (NYSE:MDV) was the recipient of a large decline in short interest in the month of January. As of January 15th, there was short interest totaling 214,143 shares, a decline of 19.3% from the December 31st total of 265,369 shares. Currently, 2.1% of the company’s shares are short sold. Based on an average daily trading volume, of 36,015 shares, the short-interest ratio is currently 5.9 days. Based on an average daily trading volume, of 36,015 shares, the short-interest ratio is currently 5.9 days. Currently, 2.1% of the company’s shares are short sold.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on MDV. Cantor Fitzgerald began coverage on shares of Modiv Industrial in a research report on Wednesday. They set an “overweight” rating and a $18.00 price target for the company. Weiss Ratings raised shares of Modiv Industrial from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, January 26th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $18.00.

Institutional Trading of Modiv Industrial

Several hedge funds have recently made changes to their positions in the company. BNP Paribas Financial Markets raised its holdings in Modiv Industrial by 65.7% during the third quarter. BNP Paribas Financial Markets now owns 2,185 shares of the company’s stock worth $32,000 after purchasing an additional 866 shares in the last quarter. Police & Firemen s Retirement System of New Jersey purchased a new position in shares of Modiv Industrial during the 2nd quarter worth approximately $30,000. Penserra Capital Management LLC lifted its holdings in shares of Modiv Industrial by 3.5% in the 3rd quarter. Penserra Capital Management LLC now owns 74,973 shares of the company’s stock valued at $1,097,000 after buying an additional 2,535 shares during the period. Bank of America Corp DE boosted 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 valued at $42,000 after buying an additional 2,935 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Modiv Industrial by 858.3% during 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 period. Institutional investors and hedge funds own 8.21% of the company’s stock.

Modiv Industrial Price Performance

Shares of NYSE:MDV traded down $0.07 on Wednesday, reaching $15.13. The company’s stock had a trading volume of 33,575 shares, compared to its average volume of 36,251. The stock has a market capitalization of $155.41 million, a P/E ratio of -58.20 and a beta of -0.31. Modiv Industrial has a 52-week low of $13.62 and a 52-week high of $17.15. The stock’s 50-day moving average is $14.72 and its two-hundred day moving average is $14.70.

Modiv Industrial Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a c) annualized dividend and a dividend yield of 7.9%. Modiv Industrial’s dividend payout ratio (DPR) is currently -461.54%.

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.