Northern Trust Corp Increases Stock Position in Modiv Industrial, Inc. (NYSE:MDV)

Northern Trust Corp boosted its position in Modiv Industrial, Inc. (NYSE:MDV) by 19.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 16,687 shares of the company’s stock after acquiring an additional 2,732 shares during the period. Northern Trust Corp owned 0.17% of Modiv Industrial worth $248,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Resona Asset Management Co. Ltd. purchased a new position in shares of Modiv Industrial during the fourth quarter valued at approximately $50,000. TT Capital Management LLC bought a new stake in Modiv Industrial in the fourth quarter valued at $158,000. Sumitomo Mitsui Trust Group Inc. purchased a new position in Modiv Industrial during the 4th quarter valued at $172,000. Bailard Inc. raised its holdings in Modiv Industrial by 5.7% in the 4th quarter. Bailard Inc. now owns 13,302 shares of the company’s stock worth $198,000 after purchasing an additional 715 shares in the last quarter. Finally, Barclays PLC raised its holdings in Modiv Industrial by 192.9% in the 4th quarter. Barclays PLC now owns 15,247 shares of the company’s stock worth $227,000 after purchasing an additional 10,041 shares in the last quarter. Hedge funds and other institutional investors own 8.21% of the company’s stock.

Modiv Industrial Price Performance

Shares of Modiv Industrial stock opened at $14.28 on Tuesday. The stock has a market cap of $144.45 million, a price-to-earnings ratio of -129.77 and a beta of -0.24. The firm’s 50-day moving average is $15.11 and its 200 day moving average is $15.25. Modiv Industrial, Inc. has a 1 year low of $13.62 and a 1 year high of $18.11.

Modiv Industrial Dividend Announcement

The firm also recently announced a dividend, which was paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th were paid a dividend of $0.0975 per share. The ex-dividend date was Wednesday, April 30th. Modiv Industrial’s dividend payout ratio is -1,300.00%.

Analyst Upgrades and Downgrades

Separately, B. Riley initiated coverage on Modiv Industrial in a report on Tuesday, April 22nd. They set a “buy” rating and a $18.00 target price on the stock.

Insider Buying and Selling at Modiv Industrial

In related news, CEO Aaron Scott Halfacre purchased 2,000 shares of Modiv Industrial stock in a transaction dated Thursday, May 8th. The stock was purchased at an average cost of $14.48 per share, for a total transaction of $28,960.00. Following the completion of the purchase, the chief executive officer now directly owns 115,412 shares of the company’s stock, valued at $1,671,165.76. The trade was a 1.76% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last three months, insiders have acquired 3,671 shares of company stock worth $53,125. Insiders own 2.80% of the company’s stock.

Modiv Industrial 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.