Modiv Industrial, Inc. (NYSE:MDV) Sees Significant Decline in Short Interest

Modiv Industrial, Inc. (NYSE:MDV) saw a significant drop in short interest in the month of March. As of March 15th, there was short interest totalling 12,800 shares, a drop of 53.8% from the February 28th total of 27,700 shares. Based on an average trading volume of 38,400 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.1% of the shares of the stock are sold short.

Modiv Industrial Stock Performance

Modiv Industrial stock traded down $0.10 during midday trading on Friday, reaching $15.76. 41,801 shares of the stock were exchanged, compared to its average volume of 31,150. Modiv Industrial has a 52 week low of $13.69 and a 52 week high of $18.11. The firm has a market cap of $157.08 million, a PE ratio of -143.27 and a beta of -0.22. The company’s fifty day moving average is $15.21 and its 200-day moving average is $15.77.

Modiv Industrial Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be issued a $0.0975 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.17 annualized dividend and a dividend yield of 7.42%. Modiv Industrial’s payout ratio is currently 468.00%.

Institutional Investors Weigh In On Modiv Industrial

A number of institutional investors and hedge funds have recently made changes to their positions in MDV. Geode Capital Management LLC increased its stake in Modiv Industrial by 25.3% in the 3rd quarter. Geode Capital Management LLC now owns 91,777 shares of the company’s stock worth $1,543,000 after acquiring an additional 18,549 shares during the last quarter. Millennium Management LLC increased its position in shares of Modiv Industrial by 154.1% in the fourth quarter. Millennium Management LLC now owns 38,344 shares of the company’s stock worth $571,000 after purchasing an additional 23,251 shares during the last quarter. Dimensional Fund Advisors LP raised 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 valued at $528,000 after purchasing an additional 6,702 shares in the last quarter. Marshall Wace LLP purchased a new stake in Modiv Industrial in the fourth quarter valued at approximately $339,000. Finally, 683 Capital Management LLC bought a new stake in Modiv Industrial during the fourth quarter valued at approximately $321,000. Hedge funds and other institutional investors own 8.21% of the company’s stock.

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.