Short Interest in Modiv Industrial, Inc. (NYSE:MDV) Grows By 115.4%

Modiv Industrial, Inc. (NYSE:MDV) was the target of a large growth in short interest in the month of May. As of May 31st, there was short interest totalling 44,800 shares, a growth of 115.4% from the May 15th total of 20,800 shares. Currently, 0.5% of the company’s shares are sold short. Based on an average daily trading volume, of 47,200 shares, the days-to-cover ratio is currently 0.9 days.

Insider Buying and Selling

In related news, CEO Aaron Scott Halfacre purchased 3,121 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The stock was purchased at an average cost of $14.10 per share, for a total transaction of $44,006.10. Following the acquisition, the chief executive officer now owns 120,000 shares in the company, valued at approximately $1,692,000. This trade represents a 2.67% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders have bought 6,792 shares of company stock valued at $97,131. 2.80% of the stock is currently owned by company insiders.

Institutional Trading of Modiv Industrial

Several large investors have recently modified their holdings of MDV. Bailard Inc. grew its stake in Modiv Industrial by 5.7% in the fourth 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. Resona Asset Management Co. Ltd. grew its stake in Modiv Industrial by 22.1% in the first quarter. Resona Asset Management Co. Ltd. now owns 4,055 shares of the company’s stock worth $64,000 after purchasing an additional 734 shares in the last quarter. CWM LLC grew its stake in Modiv Industrial by 12.4% in the first quarter. CWM LLC now owns 7,000 shares of the company’s stock worth $112,000 after purchasing an additional 770 shares in the last quarter. Northern Trust Corp grew its stake in Modiv Industrial by 19.6% in the fourth quarter. Northern Trust Corp now owns 16,687 shares of the company’s stock worth $248,000 after purchasing an additional 2,732 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake 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 in the last quarter. 8.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Modiv Industrial Price Performance

Shares of Modiv Industrial stock opened at $14.12 on Monday. The business has a 50-day moving average of $14.88 and a 200-day moving average of $15.13. The company has a market capitalization of $142.88 million, a PE ratio of -128.36 and a beta of -0.31. Modiv Industrial has a 1-year low of $13.62 and a 1-year high of $18.11.

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.