Brokerages Set Modiv Industrial, Inc. (NYSE:MDV) Price Target at $18.50

Modiv Industrial, Inc. (NYSE:MDV) has been assigned an average recommendation of “Hold” from the six research firms that are currently covering the company, Marketbeat reports. Six equities research analysts have rated the stock with a hold recommendation. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $18.50.

A number of research analysts recently weighed in on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Modiv Industrial in a report on Wednesday, July 15th. Lucid Cap Mkts downgraded shares of Modiv Industrial from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Zacks Research raised shares of Modiv Industrial from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 23rd. Alliance Global Partners restated a “neutral” rating and set a $19.00 target price (up from $18.00) on shares of Modiv Industrial in a research note on Thursday, May 7th. Finally, Wall Street Zen cut shares of Modiv Industrial from a “hold” rating to a “sell” rating in a report on Sunday, May 10th.

Modiv Industrial Trading Down 0.5%

NYSE:MDV opened at $17.65 on Wednesday. Modiv Industrial has a 1-year low of $13.80 and a 1-year high of $18.96. The firm has a fifty day simple moving average of $18.02 and a 200 day simple moving average of $16.25. The stock has a market capitalization of $182.11 million, a PE ratio of -43.04 and a beta of -0.07.

Modiv Industrial (NYSE:MDV) last posted its quarterly earnings results on Friday, May 8th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.12). The firm had revenue of $11.70 million for the quarter, compared to the consensus estimate of $11.43 million. Modiv Industrial had a return on equity of 0.07% and a net margin of 0.33%. On average, equities analysts predict that Modiv Industrial will post 1.39 earnings per share for the current fiscal year.

Modiv Industrial Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, August 10th. Stockholders of record on Monday, August 3rd will be paid a dividend of $0.10 per share. This represents a c) dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date of this dividend is Monday, August 3rd. Modiv Industrial’s dividend payout ratio (DPR) is presently -292.68%.

Insiders Place Their Bets

In other Modiv Industrial news, CEO Aaron Scott Halfacre purchased 3,586 shares of the firm’s stock in a transaction on Tuesday, June 30th. The stock was purchased at an average cost of $17.34 per share, for a total transaction of $62,181.24. Following the transaction, the chief executive officer owned 137,830 shares in the company, valued at $2,389,972.20. The trade was a 2.67% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Modiv Industrial

A number of institutional investors have recently made changes to their positions in MDV. BNP Paribas Financial Markets increased its position in shares of Modiv Industrial by 65.7% during the third quarter. BNP Paribas Financial Markets now owns 2,185 shares of the company’s stock worth $32,000 after buying an additional 866 shares during the period. Royal Bank of Canada increased its position in 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 buying an additional 1,914 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of Modiv Industrial by 3,913.3% during the second quarter. Bank of America Corp DE now owns 3,010 shares of the company’s stock valued at $42,000 after acquiring an additional 2,935 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Modiv Industrial by 858.3% during 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. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Modiv Industrial in the 2nd quarter worth about $72,000. Institutional investors own 8.21% of the company’s stock.

About Modiv Industrial

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.