Modiv Industrial, Inc. (NYSE:MDV) Sees Significant Growth in Short Interest

Modiv Industrial, Inc. (NYSE:MDV) was the recipient of a significant growth in short interest during the month of April. As of April 15th, there was short interest totalling 17,200 shares, a growth of 60.7% from the March 31st total of 10,700 shares. Approximately 0.2% of the shares of the company are short sold. Based on an average daily trading volume, of 28,000 shares, the days-to-cover ratio is presently 0.6 days.

Insider Activity

In other Modiv Industrial news, major shareholder First City Investment Group, L sold 3,654 shares of the company’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $17.02, for a total value of $62,191.08. Following the sale, the insider now directly owns 651,972 shares of the company’s stock, valued at $11,096,563.44. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders have purchased 1,262 shares of company stock valued at $18,620 and have sold 5,953 shares valued at $101,438. Corporate insiders own 4.60% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Modiv Industrial stock. Bard Associates Inc. raised its holdings in Modiv Industrial, Inc. (NYSE:MDV) by 1.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 107,465 shares of the company’s stock after acquiring an additional 1,590 shares during the period. Bard Associates Inc. owned approximately 1.42% of Modiv Industrial worth $1,611,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 8.21% of the company’s stock.

Modiv Industrial Price Performance

Shares of Modiv Industrial stock remained flat at $15.00 during trading hours on Friday. 37,494 shares of the company’s stock were exchanged, compared to its average volume of 23,479. The company’s fifty day simple moving average is $15.41 and its 200 day simple moving average is $15.18. The stock has a market cap of $137.60 million, a price-to-earnings ratio of -10.56, a PEG ratio of 2.18 and a beta of -0.31. Modiv Industrial has a 1-year low of $10.44 and a 1-year high of $19.12.

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

Modiv Industrial Announces Dividend

The business also recently declared a dividend, which will be paid on Tuesday, May 28th. Investors of record on Tuesday, April 30th will be given 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 presently -80.99%.

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.