Resona Asset Management Co. Ltd. Acquires 734 Shares of Modiv Industrial, Inc. $MDV

Resona Asset Management Co. Ltd. increased its holdings in shares of Modiv Industrial, Inc. (NYSE:MDV) by 22.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,055 shares of the company’s stock after purchasing an additional 734 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Modiv Industrial were worth $64,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Penserra Capital Management LLC lifted its holdings in shares of Modiv Industrial by 20.8% during the first quarter. Penserra Capital Management LLC now owns 68,128 shares of the company’s stock valued at $1,093,000 after purchasing an additional 11,753 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Modiv Industrial by 154.1% during the fourth quarter. Millennium Management LLC now owns 38,344 shares of the company’s stock valued at $571,000 after purchasing an additional 23,251 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Modiv Industrial by 23.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 35,454 shares of the company’s stock valued at $528,000 after purchasing an additional 6,702 shares in the last quarter. Marshall Wace LLP bought a new position in shares of Modiv Industrial during the fourth quarter valued at $339,000. Finally, 683 Capital Management LLC bought a new position in shares of Modiv Industrial during the fourth quarter valued at $321,000. 8.21% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, B. Riley began coverage on Modiv Industrial in a research report on Tuesday, April 22nd. They set a “buy” rating and a $18.00 price objective for the company.

Modiv Industrial Stock Performance

Modiv Industrial stock opened at $14.68 on Tuesday. The stock has a market cap of $149.10 million, a PE ratio of -33.35 and a beta of -0.31. Modiv Industrial, Inc. has a one year low of $13.62 and a one year high of $18.11. The stock has a fifty day moving average of $14.53 and a 200 day moving average of $14.92.

Modiv Industrial Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a dividend of $0.0975 per share. This represents a c) dividend on an annualized basis and a yield of 8.0%. The ex-dividend date is Tuesday, September 30th. Modiv Industrial’s dividend payout ratio is -265.91%.

Insider Buying and Selling

In other news, CEO Aaron Scott Halfacre acquired 3,121 shares of Modiv Industrial stock in a transaction that occurred on Tuesday, June 3rd. The stock was bought at an average price of $14.10 per share, for a total transaction of $44,006.10. Following the completion of the transaction, the chief executive officer owned 120,000 shares in the company, valued at $1,692,000. The trade was a 2.67% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders acquired a total of 4,193 shares of company stock worth $59,177 in the last three months. 2.80% of the stock is currently owned by corporate insiders.

About Modiv Industrial

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.