Modiv Industrial (NYSE:MDV) Coverage Initiated at B. Riley

B. Riley began coverage on shares of Modiv Industrial (NYSE:MDV) in a research report issued on Tuesday. The firm set a “buy” rating and a $18.00 price target on the stock. B. Riley’s target price points to a potential upside of 12.85% from the company’s current price.

Modiv Industrial Price Performance

Modiv Industrial stock opened at $15.95 on Tuesday. Modiv Industrial has a one year low of $13.62 and a one year high of $18.11. The business’s fifty day moving average is $15.28 and its 200 day moving average is $15.60. The stock has a market capitalization of $158.97 million, a PE ratio of -145.00 and a beta of -0.24.

Institutional Investors Weigh In On Modiv Industrial

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its holdings in shares of Modiv Industrial by 25.3% during the 3rd quarter. Geode Capital Management LLC now owns 91,777 shares of the company’s stock valued at $1,543,000 after buying an additional 18,549 shares during the period. Millennium Management LLC lifted its holdings in Modiv Industrial by 154.1% in the fourth quarter. Millennium Management LLC now owns 38,344 shares of the company’s stock valued at $571,000 after acquiring an additional 23,251 shares during the period. Dimensional Fund Advisors LP boosted its position in Modiv Industrial by 23.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 35,454 shares of the company’s stock worth $528,000 after purchasing an additional 6,702 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of Modiv Industrial during the 4th quarter valued at about $339,000. Finally, 683 Capital Management LLC purchased a new stake in shares of Modiv Industrial during the 4th quarter valued at about $321,000. Hedge funds and other institutional investors own 8.21% of the company’s stock.

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.