Short Interest in Modiv Industrial, Inc. (NYSE:MDV) Declines By 38.6%

Modiv Industrial, Inc. (NYSE:MDV) saw a large decline in short interest during the month of July. As of July 15th, there was short interest totaling 103,193 shares, a decline of 38.6% from the June 30th total of 168,037 shares. Based on an average daily trading volume, of 58,919 shares, the short-interest ratio is presently 1.8 days. Approximately 1.0% of the shares of the stock are short sold.

Modiv Industrial Price Performance

NYSE MDV traded down $0.23 during trading hours on Friday, hitting $17.30. 54,431 shares of the company’s stock traded hands, compared to its average volume of 64,404. The company has a market capitalization of $178.55 million, a PE ratio of -42.18 and a beta of -0.07. Modiv Industrial has a 52-week low of $13.80 and a 52-week high of $18.96. The firm’s 50-day moving average is $17.97 and its 200-day moving average is $16.36.

Modiv Industrial (NYSE:MDV) last issued its earnings results on Friday, May 8th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.12). The company had revenue of $11.70 million for the quarter, compared to analyst estimates of $11.43 million. Modiv Industrial had a return on equity of 0.07% and a net margin of 0.33%. Equities research analysts predict that Modiv Industrial will post 1.39 earnings per share for the current fiscal year.

Modiv Industrial Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, August 10th. Shareholders of record on Monday, August 3rd will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, August 3rd. This represents a c) dividend on an annualized basis and a yield of 6.9%. Modiv Industrial’s payout ratio is -292.68%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Lucid Cap Mkts downgraded Modiv Industrial from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Cantor Fitzgerald cut Modiv Industrial from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Wall Street Zen downgraded Modiv Industrial from a “hold” rating to a “sell” rating in a research note on Sunday, May 10th. Freedom Capital lowered Modiv Industrial from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Modiv Industrial in a report on Wednesday, July 15th. Six investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $18.50.

Insider Transactions at Modiv Industrial

In other news, CEO Aaron Scott Halfacre acquired 3,586 shares of the business’s stock in a transaction on Tuesday, June 30th. The stock was bought at an average cost of $17.34 per share, for a total transaction of $62,181.24. Following the purchase, the chief executive officer owned 137,830 shares in the company, valued at approximately $2,389,972.20. This represents a 2.67% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 2.80% of the company’s stock.

Institutional Trading of Modiv Industrial

Large investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. raised its holdings in shares of Modiv Industrial by 38.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 34,557 shares of the company’s stock worth $555,000 after acquiring an additional 9,615 shares during the period. Jane Street Group LLC grew its holdings in shares of Modiv Industrial by 129.2% in the first quarter. Jane Street Group LLC now owns 45,494 shares of the company’s stock valued at $730,000 after purchasing an additional 25,645 shares during the period. Geode Capital Management LLC increased its position in Modiv Industrial by 130.1% during the second quarter. Geode Capital Management LLC now owns 224,351 shares of the company’s stock worth $3,160,000 after purchasing an additional 126,850 shares during the last quarter. JPMorgan Chase & Co. increased its position 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 purchasing an additional 4,420 shares during the last quarter. Finally, Rhumbline Advisers purchased a new position in Modiv Industrial during the second quarter worth about $215,000. 8.21% of the stock is currently owned by hedge funds and other 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.