Millennium Management LLC Acquires 23,251 Shares of Modiv Industrial, Inc. (NYSE:MDV)

Millennium Management LLC increased its holdings in shares of Modiv Industrial, Inc. (NYSE:MDV) by 154.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 38,344 shares of the company’s stock after purchasing an additional 23,251 shares during the period. Millennium Management LLC owned 0.40% of Modiv Industrial worth $571,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MDV. Marshall Wace LLP acquired a new stake in Modiv Industrial in the fourth quarter valued at approximately $339,000. 683 Capital Management LLC acquired a new stake in Modiv Industrial in the fourth quarter valued at approximately $321,000. Jane Street Group LLC acquired a new stake in Modiv Industrial in the fourth quarter valued at approximately $295,000. Hillsdale Investment Management Inc. acquired a new stake in Modiv Industrial in the fourth quarter valued at approximately $248,000. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in Modiv Industrial in the fourth quarter valued at approximately $175,000. 8.21% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Modiv Industrial

In related news, CEO Aaron Scott Halfacre bought 3,121 shares of the company’s stock in a transaction dated Tuesday, June 3rd. The shares were acquired at an average price of $14.10 per share, for a total transaction of $44,006.10. Following the completion of the transaction, the chief executive officer now directly owns 120,000 shares in the company, valued at $1,692,000. This trade represents a 2.67% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders bought 6,792 shares of company stock valued at $97,131. Corporate insiders own 2.80% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Modiv Industrial Stock Performance

MDV opened at $14.08 on Monday. Modiv Industrial, Inc. has a fifty-two week low of $13.62 and a fifty-two week high of $18.11. The company has a fifty day moving average of $14.96 and a two-hundred day moving average of $15.20. The stock has a market capitalization of $142.42 million, a price-to-earnings ratio of -127.95 and a beta of -0.31.

Modiv Industrial Dividend Announcement

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

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.