Modiv Industrial (NYSE:MDV) Downgraded to “Sell” Rating by Wall Street Zen

Wall Street Zen cut shares of Modiv Industrial (NYSE:MDV) from a hold rating to a sell rating in a research report released on Saturday morning.

A number of other analysts have also weighed in on the company. Weiss Ratings upgraded Modiv Industrial from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, January 26th. Cantor Fitzgerald began coverage on shares of Modiv Industrial in a report on Wednesday, February 4th. They set an “overweight” rating and a $18.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $18.00.

Modiv Industrial Price Performance

Shares of MDV opened at $14.11 on Friday. The company has a market capitalization of $145.64 million, a P/E ratio of -45.52 and a beta of -0.31. Modiv Industrial has a one year low of $13.62 and a one year high of $17.15. The business’s 50 day simple moving average is $14.95 and its 200-day simple moving average is $14.71.

Modiv Industrial (NYSE:MDV) last released its quarterly earnings results on Wednesday, March 25th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.33). Modiv Industrial had a return on equity of 0.52% and a net margin of 2.30%.The business had revenue of $11.07 million for the quarter, compared to the consensus estimate of $11.38 million. On average, sell-side analysts anticipate that Modiv Industrial will post 1.18 EPS for the current fiscal year.

Modiv Industrial Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.10 per share. The ex-dividend date is Tuesday, June 30th. This represents a c) dividend on an annualized basis and a yield of 8.5%. Modiv Industrial’s dividend payout ratio is presently -387.10%.

Institutional Investors Weigh In On Modiv Industrial

A number of institutional investors and hedge funds have recently modified their holdings of MDV. Royal Bank of Canada lifted its stake in Modiv Industrial by 648.8% in the fourth quarter. Royal Bank of Canada now owns 2,209 shares of the company’s stock valued at $32,000 after buying an additional 1,914 shares during the period. State of New Jersey Common Pension Fund D grew its position in shares of Modiv Industrial by 20.0% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 90,000 shares of the company’s stock worth $1,295,000 after buying an additional 15,000 shares during the period. BNP Paribas Financial Markets grew its position in shares of Modiv Industrial by 65.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,185 shares of the company’s stock worth $32,000 after buying an additional 866 shares during the period. Bank of America Corp DE increased its stake in shares of Modiv Industrial by 3,913.3% in the 2nd quarter. Bank of America Corp DE now owns 3,010 shares of the company’s stock valued at $42,000 after acquiring an additional 2,935 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Modiv Industrial in the 2nd quarter valued at approximately $72,000. 8.21% of the stock is owned by institutional investors.

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.