Modiv Industrial (NYSE:MDV) Cut to Sell at Wall Street Zen

Wall Street Zen cut shares of Modiv Industrial (NYSE:MDV) from a hold rating to a sell rating in a report issued on Saturday.

A number of other research firms also recently commented on MDV. Cantor Fitzgerald began coverage on shares of Modiv Industrial in a research report on Wednesday, February 4th. They set an “overweight” rating and a $18.00 price target on the stock. Weiss Ratings upgraded shares of Modiv Industrial from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, January 26th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Modiv Industrial has a consensus rating of “Buy” and a consensus target price of $18.00.

Modiv Industrial Stock Performance

Shares of MDV opened at $14.38 on Friday. Modiv Industrial has a one year low of $13.62 and a one year high of $17.15. The stock’s fifty day moving average is $14.94 and its 200-day moving average is $14.71. The firm has a market capitalization of $148.41 million, a price-to-earnings ratio of -46.39 and a beta of -0.31.

Modiv Industrial (NYSE:MDV) last posted its quarterly earnings data on Wednesday, March 25th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.33). The company had revenue of $11.07 million during the quarter, compared to analyst estimates of $11.38 million. Modiv Industrial had a return on equity of 0.52% and a net margin of 2.30%. Analysts forecast that Modiv Industrial will post 1.18 EPS for the current fiscal year.

Modiv Industrial Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a c) annualized dividend and a yield of 8.3%. Modiv Industrial’s dividend payout ratio (DPR) is currently -387.10%.

Institutional Investors Weigh In On Modiv Industrial

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Police & Firemen s Retirement System of New Jersey bought a new position in shares of Modiv Industrial during the 2nd quarter valued at about $30,000. Royal Bank of Canada grew its stake in shares of Modiv Industrial by 648.8% in the 4th quarter. Royal Bank of Canada now owns 2,209 shares of the company’s stock worth $32,000 after purchasing an additional 1,914 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Modiv Industrial by 65.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,185 shares of the company’s stock worth $32,000 after purchasing an additional 866 shares in the last quarter. Bank of America Corp DE lifted its stake in Modiv Industrial by 3,913.3% during the second quarter. Bank of America Corp DE now owns 3,010 shares of the company’s stock valued at $42,000 after purchasing an additional 2,935 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in 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 purchasing an additional 4,420 shares during the last quarter. 8.21% of the stock is currently owned by institutional investors.

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.