Modiv Industrial (NYSE:MDV) Cut to “Sell (D+)” at Weiss Ratings

Weiss Ratings downgraded shares of Modiv Industrial (NYSE:MDV) from a hold (c-) rating to a sell (d+) rating in a report published on Saturday,Weiss Ratings reports.

Modiv Industrial Trading Down 0.3%

MDV stock opened at $14.69 on Friday. Modiv Industrial has a one year low of $13.62 and a one year high of $17.90. The firm has a market capitalization of $149.20 million, a PE ratio of -33.38 and a beta of -0.32. The firm has a 50-day moving average of $14.78 and a two-hundred day moving average of $14.74.

Modiv Industrial Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be paid a dividend of $0.0975 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a c) dividend on an annualized basis and a yield of 8.0%. Modiv Industrial’s dividend payout ratio is currently -265.91%.

Institutional Trading of Modiv Industrial

A number of hedge funds have recently bought and sold shares of the company. Jones Financial Companies Lllp lifted its stake in Modiv Industrial by 117,253.5% during the first quarter. Jones Financial Companies Lllp now owns 300,425 shares of the company’s stock valued at $4,822,000 after buying an additional 300,169 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Modiv Industrial by 130.1% in the 2nd quarter. Geode Capital Management LLC now owns 224,351 shares of the company’s stock valued at $3,160,000 after purchasing an additional 126,850 shares during the period. Penserra Capital Management LLC increased its holdings in shares of Modiv Industrial by 6.3% in the 2nd quarter. Penserra Capital Management LLC now owns 72,438 shares of the company’s stock valued at $1,019,000 after purchasing an additional 4,310 shares during the period. State of New Jersey Common Pension Fund D increased its holdings in shares of Modiv Industrial by 21.2% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 50,000 shares of the company’s stock valued at $704,000 after purchasing an additional 8,750 shares during the period. Finally, Los Angeles Capital Management LLC acquired a new position in shares of Modiv Industrial in the 2nd quarter valued at about $693,000. 8.21% of the stock is owned by hedge funds and other institutional investors.

Modiv Industrial Company 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.