Modiv Inc. (MDV) to Issue Monthly Dividend of $0.10 on July 25th

Modiv Inc. (NYSE:MDV – Get Rating) declared a monthly dividend on Thursday, March 16th, Wall Street Journal reports. Investors of record on Friday, June 30th will be paid a dividend of 0.0958 per share on Tuesday, July 25th. This represents a $1.15 annualized dividend and a yield of 10.30%. The ex-dividend date is Thursday, June 29th.

Modiv Stock Down 0.2 %

Shares of MDV stock opened at $11.16 on Friday. The stock has a market cap of $84.26 million and a P/E ratio of -11.16. Modiv has a 52 week low of $9.61 and a 52 week high of $20.57. The company’s fifty day simple moving average is $12.05 and its two-hundred day simple moving average is $12.49.

Hedge Funds Weigh In On Modiv

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in Modiv by 56.7% in the 3rd quarter. Vanguard Group Inc. now owns 307,385 shares of the company’s stock worth $4,488,000 after acquiring an additional 111,266 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Modiv by 365.9% during the third quarter. BlackRock Inc. now owns 80,380 shares of the company’s stock valued at $1,174,000 after purchasing an additional 63,129 shares in the last quarter. Millennium Management LLC bought a new position in shares of Modiv during the second quarter valued at approximately $298,000. UBS Group AG boosted its stake in shares of Modiv by 851.9% during the third quarter. UBS Group AG now owns 10,024 shares of the company’s stock valued at $146,000 after purchasing an additional 8,971 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Modiv by 1,706.6% during the third quarter. Tower Research Capital LLC TRC now owns 2,186 shares of the company’s stock valued at $32,000 after purchasing an additional 2,065 shares in the last quarter. 6.19% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. B. Riley decreased their price target on shares of Modiv from $19.00 to $17.00 in a research note on Wednesday, March 1st. EF Hutton Acquisition Co. I restated a “buy” rating and set a $17.00 target price on shares of Modiv in a research report on Friday, February 24th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $18.90.

Modiv Company Profile

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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.