Zacks Research Downgrades Modiv Industrial (NYSE:MDV) to Strong Sell

Modiv Industrial (NYSE:MDV) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Monday,Zacks.com reports.

MDV has been the topic of several other research reports. Weiss Ratings raised Modiv Industrial from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, January 26th. Wall Street Zen cut Modiv Industrial from a “hold” rating to a “sell” rating in a research report on Sunday, May 10th. Lucid Cap Mkts cut 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. Finally, Alliance Global Partners reaffirmed a “neutral” rating and set a $19.00 target price (up from $18.00) on shares of Modiv Industrial in a research report on Thursday, May 7th. Five investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Modiv Industrial presently has an average rating of “Reduce” and a consensus price target of $18.50.

Modiv Industrial Stock Up 1.5%

Shares of NYSE:MDV opened at $18.51 on Monday. Modiv Industrial has a 52-week low of $13.80 and a 52-week high of $18.58. The stock has a market cap of $191.02 million, a P/E ratio of -45.15 and a beta of -0.14. The business’s 50 day moving average is $16.04 and its 200 day moving average is $15.24.

Modiv Industrial (NYSE:MDV) last announced its quarterly earnings data on Friday, May 8th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.12). Modiv Industrial had a return on equity of 0.07% and a net margin of 0.33%.The firm had revenue of $11.70 million during the quarter, compared to the consensus estimate of $11.43 million. On average, sell-side analysts anticipate that Modiv Industrial will post 1.39 EPS for the current fiscal year.

Institutional Trading of Modiv Industrial

Hedge funds and other institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets lifted its holdings 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 valued at $32,000 after purchasing an additional 866 shares during the last quarter. Royal Bank of Canada lifted its holdings in shares of 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 last quarter. Bank of America Corp DE lifted its holdings in shares of Modiv Industrial by 3,913.3% during the 2nd 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 last quarter. JPMorgan Chase & Co. raised its stake in Modiv Industrial by 858.3% in the 2nd 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. purchased a new position in Modiv Industrial in the 2nd quarter worth $72,000. Hedge funds and other institutional investors own 8.21% of the company’s stock.

About Modiv Industrial

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.