Short Interest in Modiv Industrial, Inc. (NYSE:MDV) Decreases By 21.5%

Modiv Industrial, Inc. (NYSE:MDV) was the recipient of a large drop in short interest in July. As of July 15th, there was short interest totalling 21,900 shares, a drop of 21.5% from the June 30th total of 27,900 shares. Based on an average daily volume of 22,800 shares, the short-interest ratio is currently 1.0 days. Approximately 0.3% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

Separately, Alliance Global Partners began coverage on Modiv Industrial in a research note on Monday, April 29th. They issued a “buy” rating and a $18.00 price objective for the company.

Modiv Industrial Stock Down 0.1 %

NYSE MDV traded down $0.02 during mid-day trading on Friday, hitting $14.79. The stock had a trading volume of 16,992 shares, compared to its average volume of 16,211. Modiv Industrial has a 52-week low of $11.79 and a 52-week high of $19.12. The company has a market cap of $139.77 million, a price-to-earnings ratio of -31.47, a P/E/G ratio of 2.40 and a beta of -0.23. The company has a 50 day simple moving average of $14.73 and a 200 day simple moving average of $15.05.

Modiv Industrial Announces Dividend

The business also recently declared a dividend, which will be paid on Monday, August 26th. Shareholders of record on Wednesday, July 31st will be given a dividend of $0.0958 per share. The ex-dividend date of this dividend is Wednesday, July 31st. Modiv Industrial’s payout ratio is -244.68%.

Hedge Funds Weigh In On Modiv Industrial

A hedge fund recently raised its stake in Modiv Industrial stock. Bard Associates Inc. lifted its holdings in shares of Modiv Industrial, Inc. (NYSE:MDV) by 1.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 107,465 shares of the company’s stock after purchasing an additional 1,590 shares during the quarter. Bard Associates Inc. owned about 1.42% of Modiv Industrial worth $1,611,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 8.21% of the company’s stock.

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.