Modiv Industrial, Inc. (NYSE:MDV) Short Interest Down 53.8% in March

Modiv Industrial, Inc. (NYSE:MDV) saw a significant drop in short interest during 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 daily trading volume, of 38,400 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.1% of the shares of the company are short sold.

Institutional Investors Weigh In On Modiv Industrial

A number of hedge funds have recently made changes to their positions in the business. Barclays PLC acquired a new stake in Modiv Industrial in the 3rd quarter valued at approximately $87,000. Geode Capital Management LLC grew its stake in shares of Modiv Industrial by 25.3% in 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 in the last quarter. Sumitomo Mitsui Trust Group Inc. acquired a new position in shares of Modiv Industrial during the fourth quarter valued at $172,000. Daiwa Securities Group Inc. bought a new stake in shares of Modiv Industrial during the third quarter valued at about $45,000. Finally, State Street Corp lifted its holdings in Modiv Industrial by 16.3% in the third quarter. State Street Corp now owns 15,135 shares of the company’s stock worth $256,000 after purchasing an additional 2,121 shares during the period. Institutional investors own 8.21% of the company’s stock.

Modiv Industrial Stock Performance

Shares of Modiv Industrial stock traded down $0.10 during trading on Friday, hitting $15.76. 41,801 shares of the stock were exchanged, compared to its average volume of 31,150. The stock has a market cap of $157.08 million, a PE ratio of -143.27 and a beta of -0.22. The stock’s fifty day moving average is $15.21 and its 200 day moving average is $15.77. Modiv Industrial has a 12 month low of $13.69 and a 12 month high of $18.11.

Modiv Industrial Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be paid 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%.

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.