Alliance Global Partners Reaffirms “Neutral” Rating for Modiv Industrial (NYSE:MDV)

Modiv Industrial (NYSE:MDV)‘s stock had its “neutral” rating reaffirmed by equities researchers at Alliance Global Partners in a note issued to investors on Thursday,Benzinga reports. They presently have a $19.00 price target on the stock, up from their prior price target of $18.00. Alliance Global Partners’ price objective suggests a potential upside of 5.89% from the stock’s current price.

A number of other equities analysts also recently commented on the stock. Freedom Capital downgraded shares of Modiv Industrial from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Cantor Fitzgerald downgraded shares of Modiv Industrial from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Weiss Ratings raised shares of Modiv Industrial from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, January 26th. Finally, Wall Street Zen upgraded shares of Modiv Industrial from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Five research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Modiv Industrial currently has an average rating of “Hold” and a consensus target price of $18.50.

Modiv Industrial Trading Up 0.8%

Shares of MDV stock opened at $17.94 on Thursday. The company’s fifty day simple moving average is $15.26 and its 200-day simple moving average is $14.91. Modiv Industrial has a 52 week low of $13.80 and a 52 week high of $18.05. The company has a market cap of $185.24 million, a PE ratio of -57.88 and a beta of -0.14.

Modiv Industrial (NYSE:MDV) last issued its quarterly earnings data on Wednesday, May 6th. 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 0.52% and a net margin of 2.30%.The company had revenue of $11.70 million for the quarter, compared to analyst estimates of $11.43 million. Equities research analysts expect that Modiv Industrial will post 1.5 EPS for the current fiscal year.

Hedge Funds Weigh In On Modiv Industrial

Several institutional investors have recently modified their holdings of MDV. BNP Paribas Financial Markets increased its holdings in shares of Modiv Industrial by 65.7% in the 3rd 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 period. Dimensional Fund Advisors LP boosted its stake in Modiv Industrial by 2.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 69,760 shares of the company’s stock valued at $1,004,000 after purchasing an additional 1,637 shares during the period. Royal Bank of Canada boosted its stake in Modiv Industrial by 648.8% during the 4th quarter. Royal Bank of Canada now owns 2,209 shares of the company’s stock valued at $32,000 after purchasing an additional 1,914 shares during the period. Penserra Capital Management LLC grew its position in Modiv Industrial by 3.5% in the 3rd quarter. Penserra Capital Management LLC now owns 74,973 shares of the company’s stock worth $1,097,000 after purchasing an additional 2,535 shares during the last quarter. Finally, Bank of America Corp DE increased 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 purchasing an additional 2,935 shares during the period. 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.