Modiv Industrial (NYSE:MDV) Posts Earnings Results, Beats Expectations By $0.04 EPS

Modiv Industrial (NYSE:MDV) posted its earnings results on Friday. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.04, reports. The business had revenue of $11.69 million during the quarter, compared to the consensus estimate of $11.79 million. Modiv Industrial had a negative return on equity of 0.11% and a negative net margin of 0.48%.

Modiv Industrial Trading Up 0.4%

Shares of NYSE:MDV traded up $0.06 on Friday, reaching $14.66. 38,633 shares of the company were exchanged, compared to its average volume of 28,750. Modiv Industrial has a 1-year low of $13.62 and a 1-year high of $17.15. The firm has a market cap of $148.89 million, a price-to-earnings ratio of -33.31 and a beta of -0.32. The company has a 50-day moving average of $14.62 and a 200-day moving average of $14.65.

Modiv Industrial Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be issued a $0.0975 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a c) dividend on an annualized basis and a yield of 8.0%. Modiv Industrial’s dividend payout ratio (DPR) is -265.91%.

Institutional Trading of Modiv Industrial

Large investors have recently modified their holdings of the business. Geode Capital Management LLC raised its position 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 worth $3,160,000 after purchasing an additional 126,850 shares during the last quarter. Two Sigma Investments LP purchased a new stake in shares of Modiv Industrial in the third quarter valued at $824,000. Jane Street Group LLC boosted its stake in shares of Modiv Industrial by 129.2% during the first quarter. Jane Street Group LLC now owns 45,494 shares of the company’s stock valued at $730,000 after acquiring an additional 25,645 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Modiv Industrial by 48.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 68,123 shares of the company’s stock worth $997,000 after purchasing an additional 22,265 shares in the last quarter. Finally, Rhumbline Advisers acquired a new position in Modiv Industrial in the 2nd quarter valued at about $215,000. 8.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Modiv Industrial in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $18.00.

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.