Modiv Industrial (NYSE:MDV) Releases Earnings Results, Beats Estimates By $0.33 EPS

Modiv Industrial (NYSE:MDV) announced its quarterly earnings data on Tuesday. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.33, reports. The firm had revenue of $11.69 million for the quarter, compared to analysts’ expectations of $11.57 million. Modiv Industrial had a return on equity of 0.07% and a net margin of 0.33%.

Modiv Industrial Trading Down 1.4%

Shares of NYSE:MDV opened at $17.96 on Wednesday. The company has a market cap of $185.37 million, a price-to-earnings ratio of -43.81 and a beta of -0.07. The company has a 50-day moving average price of $17.85 and a 200-day moving average price of $16.52. Modiv Industrial has a 12 month low of $13.80 and a 12 month high of $18.96.

Modiv Industrial Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Monday, August 10th. Shareholders of record on Monday, August 3rd were given a $0.10 dividend. The ex-dividend date was Monday, August 3rd. This represents a c) dividend on an annualized basis and a dividend yield of 6.7%. Modiv Industrial’s payout ratio is presently -292.68%.

Insider Buying and Selling at Modiv Industrial

In other Modiv Industrial news, CEO Aaron Scott Halfacre bought 3,586 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The shares were bought at an average cost of $17.34 per share, with a total value of $62,181.24. Following the completion of the purchase, the chief executive officer directly owned 137,830 shares of the company’s stock, valued at $2,389,972.20. This trade represents a 2.67% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On Modiv Industrial

A number of large investors have recently made changes to their positions in MDV. Goldman Sachs Group Inc. increased its position in Modiv Industrial by 38.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 34,557 shares of the company’s stock valued at $555,000 after purchasing an additional 9,615 shares during the period. Jane Street Group LLC boosted its stake in shares of Modiv Industrial by 129.2% during the 1st 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 in the last quarter. Geode Capital Management LLC boosted its stake in shares of Modiv Industrial by 130.1% during the 2nd quarter. Geode Capital Management LLC now owns 224,351 shares of the company’s stock valued at $3,160,000 after purchasing an additional 126,850 shares in the last quarter. JPMorgan Chase & Co. increased 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 valued at $69,000 after buying an additional 4,420 shares during the period. Finally, Rhumbline Advisers purchased a new position in shares of Modiv Industrial during the second quarter valued at about $215,000. 8.21% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on MDV. Cantor Fitzgerald lowered Modiv Industrial from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Zacks Research upgraded Modiv Industrial from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Modiv Industrial in a research note on Wednesday, July 15th. Wall Street Zen downgraded Modiv Industrial from a “hold” rating to a “sell” rating in a research report on Sunday, May 10th. Finally, Lucid Cap Mkts lowered Modiv Industrial from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Six equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Modiv Industrial has a consensus rating of “Hold” and an average price target of $18.50.

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.