Alliance Global Partners Begins Coverage on Modiv Industrial (NYSE:MDV)

Alliance Global Partners assumed coverage on shares of Modiv Industrial (NYSE:MDV) in a research report released on Monday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $18.00 target price on the stock.

Modiv Industrial Price Performance

Shares of NYSE MDV opened at $14.90 on Monday. The stock’s fifty day moving average price is $15.45 and its two-hundred day moving average price is $15.17. Modiv Industrial has a one year low of $10.70 and a one year high of $19.12. The firm has a market cap of $139.90 million, a price-to-earnings ratio of -10.49, a P/E/G ratio of 2.17 and a beta of -0.31.

Modiv Industrial (NYSE:MDV) last issued its quarterly earnings data on Monday, March 4th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.35). Modiv Industrial had a negative net margin of 14.09% and a negative return on equity of 2.82%. The firm had revenue of $12.29 million during the quarter, compared to analyst estimates of $12.53 million. During the same period in the prior year, the company earned $0.68 earnings per share. On average, equities analysts anticipate that Modiv Industrial will post 1.38 earnings per share for the current fiscal year.

Modiv Industrial Announces Dividend

The business also recently announced a dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Tuesday, April 30th will be issued a dividend of $0.0958 per share. The ex-dividend date of this dividend is Monday, April 29th. Modiv Industrial’s dividend payout ratio (DPR) is currently -80.99%.

Insider Transactions at Modiv Industrial

In other news, major shareholder First City Investment Group, L sold 3,654 shares of the stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $17.02, for a total transaction of $62,191.08. Following the sale, the insider now directly owns 651,972 shares of the company’s stock, valued at approximately $11,096,563.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last three months, insiders have purchased 1,045 shares of company stock valued at $15,597 and have sold 5,953 shares valued at $101,438. 4.60% of the stock is currently owned by insiders.

Institutional Trading of Modiv Industrial

An institutional investor recently raised its position in Modiv Industrial stock. State of New Jersey Common Pension Fund D lifted its stake in shares of Modiv Industrial, Inc. (NYSE:MDV) by 17.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 46,000 shares of the company’s stock after purchasing an additional 6,935 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.61% of Modiv Industrial worth $768,000 as of its most recent SEC filing. Institutional investors and hedge funds own 8.21% of the company’s stock.

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.