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

Modiv Industrial, Inc. (NYSE:MDV) saw a large increase in short interest in the month of April. As of April 15th, there was short interest totalling 17,200 shares, an increase of 60.7% from the March 31st total of 10,700 shares. Based on an average daily volume of 28,000 shares, the short-interest ratio is presently 0.6 days. Currently, 0.2% of the company’s shares are sold short.

Insider Buying and Selling at Modiv Industrial

In other news, major shareholder First City Investment Group, L sold 3,654 shares of the company’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $17.02, for a total value of $62,191.08. Following the completion of the sale, the insider now directly owns 651,972 shares of the company’s stock, valued at approximately $11,096,563.44. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last three months, insiders have acquired 1,262 shares of company stock worth $18,620 and have sold 5,953 shares worth $101,438. Corporate insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On Modiv Industrial

A hedge fund recently raised its stake in Modiv Industrial stock. State of New Jersey Common Pension Fund D raised its holdings in shares of Modiv Industrial, Inc. (NYSE:MDV) by 17.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 approximately 0.61% of Modiv Industrial worth $768,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 8.21% of the company’s stock.

Modiv Industrial Price Performance

Shares of NYSE MDV remained flat at $15.00 during trading hours on Friday. The stock had a trading volume of 37,494 shares, compared to its average volume of 23,479. The stock has a market capitalization of $137.60 million, a PE ratio of -10.56, a P/E/G ratio of 2.18 and a beta of -0.31. Modiv Industrial has a 12 month low of $10.44 and a 12 month high of $19.12. The firm’s fifty day moving average price is $15.41 and its 200 day moving average price is $15.18.

Modiv Industrial (NYSE:MDV) last announced its quarterly earnings results on Monday, March 4th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $12.29 million for the quarter, compared to analyst estimates of $12.53 million. During the same period in the prior year, the business earned $0.68 EPS. Equities research analysts expect that Modiv Industrial will post 1.38 EPS for the current year.

Modiv Industrial Dividend Announcement

The firm also recently declared a dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Tuesday, April 30th will be issued a dividend of $0.0958 per share. The ex-dividend date is Monday, April 29th. Modiv Industrial’s dividend payout ratio is -80.99%.

About Modiv Industrial

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.