Modiv Industrial (NYSE:MDV) Now Covered by Analysts at Alliance Global Partners

Alliance Global Partners initiated coverage on shares of Modiv Industrial (NYSE:MDV) in a research note released on Monday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $18.00 target price on the stock.

Modiv Industrial Stock Down 0.3 %

MDV stock opened at $14.96 on Monday. The business has a fifty day moving average price of $15.42 and a 200 day moving average price of $15.18. Modiv Industrial has a fifty-two week low of $10.70 and a fifty-two week high of $19.12.

Modiv Industrial (NYSE:MDV) last posted its quarterly earnings data on Monday, March 4th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.35). Modiv Industrial had a negative net margin of 14.09% and a negative return on equity of 2.82%. The company had revenue of $12.29 million during the quarter, compared to analyst estimates of $12.53 million. During the same quarter in the previous year, the business posted $0.68 EPS. Equities analysts anticipate that Modiv Industrial will post 1.38 EPS for the current year.

Modiv Industrial Dividend Announcement

The company also recently announced a dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Tuesday, April 30th will be given a dividend of $0.0958 per share. The ex-dividend date of this dividend is Monday, April 29th. Modiv Industrial’s payout ratio is currently -80.99%.

Insider Activity at Modiv Industrial

In other Modiv Industrial news, major shareholder First City Investment Group, L sold 3,654 shares of the company’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $17.02, for a total transaction of $62,191.08. Following the transaction, the insider now directly owns 651,972 shares in the company, valued at approximately $11,096,563.44. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last 90 days, insiders have bought 1,045 shares of company stock worth $15,597 and have sold 5,953 shares worth $101,438. 4.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Modiv Industrial stock. Bard Associates Inc. raised its stake in shares of Modiv Industrial, Inc. (NYSE:MDV) by 1.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 107,465 shares of the company’s stock after buying an additional 1,590 shares during the quarter. Bard Associates Inc. owned about 1.42% of Modiv Industrial worth $1,611,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 8.21% of the company’s stock.

Modiv Industrial Company Profile

Modiv Industrial, Inc is an internally managed REIT that is focused on single-tenant net-lease industrial manufacturing real estate. The Company actively acquires critical industrial manufacturing properties with long-term leases to tenants that fuel the national economy and strengthen the nation's supply chains.