Modiv Industrial (NYSE:MDV) Stock Rating Upgraded by B. Riley

B. Riley upgraded shares of Modiv Industrial (NYSE:MDV) to a strong-buy rating in a research note published on Monday,Zacks.com reports.

Modiv Industrial Stock Performance

Shares of MDV opened at $15.95 on Monday. The stock has a market cap of $158.97 million, a P/E ratio of -145.00 and a beta of -0.24. The stock’s 50-day moving average price is $15.28 and its two-hundred day moving average price is $15.60. Modiv Industrial has a 1 year low of $13.62 and a 1 year high of $18.11.

Modiv Industrial Dividend Announcement

The company also recently announced a dividend, which will be paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th will be paid a $0.0975 dividend. The ex-dividend date is Wednesday, April 30th. Modiv Industrial’s payout ratio is presently 468.00%.

Hedge Funds Weigh In On Modiv Industrial

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. State Street Corp increased its position in shares of Modiv Industrial by 16.3% in the 3rd quarter. State Street Corp now owns 15,135 shares of the company’s stock valued at $256,000 after buying an additional 2,121 shares in the last quarter. Barclays PLC bought a new stake in shares of Modiv Industrial in the third quarter worth about $87,000. Geode Capital Management LLC raised its position in shares of Modiv Industrial by 25.3% during the third quarter. Geode Capital Management LLC now owns 91,777 shares of the company’s stock worth $1,543,000 after purchasing an additional 18,549 shares during the period. Sumitomo Mitsui Trust Group Inc. bought a new position in shares of Modiv Industrial during the 4th quarter valued at about $172,000. Finally, Bailard Inc. grew its position in shares of Modiv Industrial by 5.7% in the 4th quarter. Bailard Inc. now owns 13,302 shares of the company’s stock valued at $198,000 after purchasing an additional 715 shares during the period. 8.21% of the stock is owned by 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.