Shares of Modiv Inc. (NYSE:MDV – Get Rating) have received an average recommendation of “Buy” from the six ratings firms that are presently covering the stock, Marketbeat.com reports. Six investment analysts have rated the stock with a buy rating. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $20.30.
Several equities research analysts recently weighed in on MDV shares. EF Hutton Acquisition Co. I reduced their price target on shares of Modiv from $21.00 to $17.00 and set a “buy” rating for the company in a research report on Tuesday. LADENBURG THALM/SH SH assumed coverage on shares of Modiv in a research report on Friday, November 11th. They issued a “buy” rating and a $18.50 target price for the company. Finally, Janney Montgomery Scott assumed coverage on shares of Modiv in a research report on Friday, September 30th. They issued a “buy” rating and a $20.00 target price for the company.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of the business. Tower Research Capital LLC TRC lifted its stake in shares of Modiv by 1,706.6% during the 3rd quarter. Tower Research Capital LLC TRC now owns 2,186 shares of the company’s stock valued at $32,000 after buying an additional 2,065 shares in the last quarter. UBS Group AG lifted its stake in shares of Modiv by 851.9% during the 3rd quarter. UBS Group AG now owns 10,024 shares of the company’s stock valued at $146,000 after buying an additional 8,971 shares in the last quarter. Laurel Wealth Advisors Inc. purchased a new position in shares of Modiv during the 2nd quarter valued at $216,000. Millennium Management LLC purchased a new position in shares of Modiv during the 2nd quarter valued at $298,000. Finally, BlackRock Inc. lifted its stake in shares of Modiv by 365.9% during the 3rd quarter. BlackRock Inc. now owns 80,380 shares of the company’s stock valued at $1,174,000 after buying an additional 63,129 shares in the last quarter. Hedge funds and other institutional investors own 21.09% of the company’s stock.
Modiv Stock Down 0.5 %
Modiv Announces Dividend
The firm also recently declared a monthly dividend, which will be paid on Tuesday, April 25th. Stockholders of record on Friday, March 31st will be paid a dividend of $0.0958 per share. This represents a $1.15 annualized dividend and a dividend yield of 10.94%. The ex-dividend date of this dividend is Thursday, March 30th. Modiv’s dividend payout ratio is presently -82.73%.
Modiv Inc, (the Company) was incorporated on May 14, 2015 as a Maryland corporation. The Company was formed to primarily invest, directly or indirectly, in real estate owning entities which own single-tenant income-producing properties located in the United States, which are leased to creditworthy tenants under long-term net leases.
- Get a free copy of the StockNews.com research report on Modiv (MDV)
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