Modiv Industrial (NYSE:MDV) Upgraded by Zacks Research to “Hold” Rating

Zacks Research upgraded shares of Modiv Industrial (NYSE:MDV) from a strong sell rating to a hold rating in a research report released on Tuesday morning,Zacks.com reports.

Several other equities analysts have also recently commented on the stock. Lucid Cap Mkts cut shares of Modiv Industrial from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Wall Street Zen downgraded Modiv Industrial from a “hold” rating to a “sell” rating in a research report on Sunday, May 10th. Alliance Global Partners reiterated a “neutral” rating and set a $19.00 price target (up from $18.00) on shares of Modiv Industrial in a report on Thursday, May 7th. Cantor Fitzgerald cut Modiv Industrial from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Finally, Freedom Capital cut Modiv Industrial from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Six analysts have rated the stock with a Hold rating, According to MarketBeat, Modiv Industrial currently has an average rating of “Hold” and an average price target of $18.50.

Modiv Industrial Price Performance

NYSE MDV opened at $17.90 on Tuesday. The company has a fifty day moving average price of $17.54 and a 200-day moving average price of $15.77. The firm has a market cap of $184.73 million, a price-to-earnings ratio of -43.66 and a beta of -0.08. Modiv Industrial has a 1 year low of $13.80 and a 1 year high of $18.83.

Modiv Industrial (NYSE:MDV) last released its quarterly earnings results on Friday, May 8th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.12). Modiv Industrial had a net margin of 0.33% and a return on equity of 0.07%. The firm had revenue of $11.70 million for the quarter, compared to the consensus estimate of $11.43 million. On average, research analysts anticipate that Modiv Industrial will post 1.39 EPS for the current fiscal year.

Modiv Industrial Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, August 10th. Shareholders of record on Monday, August 3rd will be paid a $0.10 dividend. This represents a c) dividend on an annualized basis and a yield of 6.7%. The ex-dividend date is Monday, August 3rd. Modiv Industrial’s payout ratio is presently -292.68%.

Institutional Investors Weigh In On Modiv Industrial

Several large investors have recently modified their holdings of MDV. Militia Capital Management LLC bought a new stake in shares of Modiv Industrial in the 1st quarter worth approximately $352,000. Bank of America Corp DE increased its position in Modiv Industrial by 27.8% in the first quarter. Bank of America Corp DE now owns 21,079 shares of the company’s stock worth $302,000 after buying an additional 4,586 shares during the last quarter. Renaissance Technologies LLC increased its position in Modiv Industrial by 14.7% in the first quarter. Renaissance Technologies LLC now owns 75,700 shares of the company’s stock worth $1,084,000 after buying an additional 9,702 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Modiv Industrial by 17.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 82,199 shares of the company’s stock valued at $1,177,000 after acquiring an additional 12,439 shares during the period. Finally, AlphaCentric Advisors LLC bought a new stake in shares of Modiv Industrial in the first quarter valued at approximately $143,000. Hedge funds and other institutional investors own 8.21% of the company’s stock.

Modiv Industrial Company Profile

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.