Modiv Industrial’s (MDV) Overweight Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Modiv Industrial (NYSE:MDV) in a report published on Tuesday,Benzinga reports. The firm currently has a $18.00 price objective on the stock.

MDV has been the topic of several other reports. Wall Street Zen downgraded shares of Modiv Industrial from a “hold” rating to a “sell” rating in a research note on Saturday, March 28th. Weiss Ratings upgraded shares of Modiv Industrial from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, January 26th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $18.00.

Modiv Industrial Stock Performance

MDV stock opened at $14.88 on Tuesday. The company’s 50-day simple moving average is $14.90 and its 200 day simple moving average is $14.71. Modiv Industrial has a 52 week low of $13.80 and a 52 week high of $17.15. The company has a market capitalization of $153.51 million, a PE ratio of -47.98 and a beta of -0.25.

Modiv Industrial (NYSE:MDV) last released its quarterly earnings results on Wednesday, March 25th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.33). Modiv Industrial had a net margin of 2.30% and a return on equity of 0.52%. The business had revenue of $11.07 million during the quarter, compared to analyst estimates of $11.38 million. On average, analysts forecast that Modiv Industrial will post 1.18 EPS for the current year.

Modiv Industrial Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a $0.10 dividend. The ex-dividend date is Tuesday, June 30th. This represents a c) annualized dividend and a dividend yield of 8.1%. Modiv Industrial’s payout ratio is presently -387.10%.

Hedge Funds Weigh In On Modiv Industrial

Hedge funds and other institutional investors have recently made changes to their positions in the company. New York State Common Retirement Fund acquired a new position in Modiv Industrial during the second quarter worth about $100,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Modiv Industrial in the 2nd quarter valued at approximately $72,000. JPMorgan Chase & Co. boosted its stake in shares of Modiv Industrial by 858.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 4,935 shares of the company’s stock valued at $69,000 after purchasing an additional 4,420 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Modiv Industrial by 3,913.3% in the 2nd quarter. Bank of America Corp DE now owns 3,010 shares of the company’s stock valued at $42,000 after purchasing an additional 2,935 shares in the last quarter. Finally, Royal Bank of Canada boosted its stake in shares of Modiv Industrial by 648.8% in the 4th quarter. Royal Bank of Canada now owns 2,209 shares of the company’s stock valued at $32,000 after purchasing an additional 1,914 shares in the last quarter. 8.21% of the stock is currently owned by institutional investors and hedge funds.

Modiv Industrial Company Profile

Modiv Industrial, Inc (NYSE: MDV) is a publicly traded real estate investment trust that specializes in the acquisition, ownership and management of single-tenant industrial properties. The company’s portfolio is anchored by net-lease agreements with corporate and public sector tenants, providing stable, long-term cash flows. Modiv Industrial focuses on light manufacturing facilities, warehouse and distribution centers, and similar industrial real estate assets that serve as critical links in supply chains.

Modiv Industrial pursues a geographically diversified strategy, targeting properties in key U.S.