Christopher Raymond Gingras Purchases 1,000 Shares of Modiv Industrial, Inc. (NYSE:MDV) Stock

Modiv Industrial, Inc. (NYSE:MDV) Director Christopher Raymond Gingras purchased 1,000 shares of the firm’s stock in a transaction on Wednesday, May 14th. The stock was acquired at an average price of $14.59 per share, with a total value of $14,590.00. Following the completion of the purchase, the director now owns 7,599 shares of the company’s stock, valued at $110,869.41. The trade was a 15.15% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Modiv Industrial Stock Up 3.4%

Shares of NYSE:MDV opened at $14.76 on Friday. Modiv Industrial, Inc. has a 52-week low of $13.62 and a 52-week high of $18.11. The stock has a market cap of $149.36 million, a price-to-earnings ratio of -134.18 and a beta of -0.24. The business has a 50-day moving average price of $15.39 and a 200-day moving average price of $15.45.

Modiv Industrial Dividend Announcement

The company also recently disclosed a dividend, which was paid on Thursday, May 15th. Stockholders of record on Wednesday, April 30th were paid a $0.0975 dividend. The ex-dividend date was Wednesday, April 30th. Modiv Industrial’s payout ratio is -1,300.00%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Marshall Wace LLP acquired a new stake in Modiv Industrial during the fourth quarter worth about $339,000. Barclays PLC acquired a new stake in Modiv Industrial during the third quarter worth about $87,000. Hillsdale Investment Management Inc. acquired a new stake in Modiv Industrial during the fourth quarter worth about $248,000. Sumitomo Mitsui Trust Group Inc. acquired a new stake in Modiv Industrial during the fourth quarter worth about $172,000. Finally, 683 Capital Management LLC acquired a new stake in Modiv Industrial in the fourth quarter valued at approximately $321,000. 8.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, B. Riley started coverage on Modiv Industrial in a research note on Tuesday, April 22nd. They issued a “buy” rating and a $18.00 price target for the company.

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.