Modiv Industrial, Inc. (NYSE:MDV) Receives $18.50 Consensus Target Price from Brokerages

Modiv Industrial, Inc. (NYSE:MDV) has received a consensus recommendation of “Hold” from the six ratings firms that are currently covering the company, Marketbeat.com reports. Six investment analysts have rated the stock with a hold rating. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $18.50.

Several research analysts have weighed in on the company. Lucid Cap Mkts cut 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 “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, August 12th. Wall Street Zen downgraded shares of Modiv Industrial from a “hold” rating to a “sell” rating in a research note on Sunday, May 10th. Freedom Capital lowered shares of Modiv Industrial from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Finally, Cantor Fitzgerald cut shares of Modiv Industrial from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th.

Insiders Place Their Bets

In other news, CEO Aaron Scott Halfacre bought 5,766 shares of the company’s stock in a transaction dated Friday, June 26th. The stock was bought at an average cost of $17.49 per share, for a total transaction of $100,847.34. Following the transaction, the chief executive officer owned 134,245 shares of the company’s stock, valued at $2,347,945.05. This represents a 4.49% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Royal Bank of Canada increased its position in Modiv Industrial by 648.8% in the 4th quarter. Royal Bank of Canada now owns 2,209 shares of the company’s stock valued at $32,000 after acquiring an additional 1,914 shares during the period. BNP Paribas Financial Markets increased 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 valued at $32,000 after buying an additional 866 shares during the period. Bank of America Corp DE raised its position in shares of Modiv Industrial by 3,913.3% during 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 position in shares of 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 last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Modiv Industrial in the second quarter worth approximately $72,000. 8.21% of the stock is currently owned by institutional investors and hedge funds.

Modiv Industrial Price Performance

Shares of NYSE:MDV opened at $18.05 on Friday. The company’s 50-day moving average price is $17.81 and its two-hundred day moving average price is $16.66. Modiv Industrial has a one year low of $13.80 and a one year high of $18.96. The stock has a market capitalization of $186.35 million, a PE ratio of 50.14 and a beta of -0.07.

Modiv Industrial (NYSE:MDV) last announced its quarterly earnings data on Tuesday, August 11th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.42. Modiv Industrial had a return on equity of 3.75% and a net margin of 16.35%.The company had revenue of $11.69 million during the quarter, compared to analysts’ expectations of $11.57 million. On average, analysts anticipate that Modiv Industrial will post 1.39 earnings per share for the current fiscal year.

Modiv Industrial Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Monday, August 10th. Stockholders of record on Monday, August 3rd were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, August 3rd. This represents a c) annualized dividend and a dividend yield of 6.6%. Modiv Industrial’s dividend payout ratio (DPR) is currently 333.33%.

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.