Modiv Industrial, Inc. (NYSE:MDV) Sees Large Growth in Short Interest

Modiv Industrial, Inc. (NYSE:MDV) was the target of a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 27,700 shares, an increase of 96.5% from the February 13th total of 14,100 shares. Approximately 0.3% of the company’s stock are sold short. Based on an average trading volume of 35,000 shares, the days-to-cover ratio is currently 0.8 days.

Institutional Trading of Modiv Industrial

A number of large investors have recently made changes to their positions in the company. Bailard Inc. boosted 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. State Street Corp boosted 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 purchasing an additional 2,121 shares during the period. Daiwa Securities Group Inc. acquired a new stake in shares of Modiv Industrial in the 3rd quarter valued at about $45,000. Northern Trust Corp boosted its position in shares of Modiv Industrial by 19.6% in the 4th quarter. Northern Trust Corp now owns 16,687 shares of the company’s stock valued at $248,000 after purchasing an additional 2,732 shares during the period. Finally, Resona Asset Management Co. Ltd. acquired a new stake in shares of Modiv Industrial in the 4th quarter valued at about $50,000. 8.21% of the stock is owned by institutional investors and hedge funds.

Modiv Industrial Price Performance

Shares of MDV traded up $0.04 during mid-day trading on Friday, reaching $15.28. The company’s stock had a trading volume of 34,504 shares, compared to its average volume of 30,482. Modiv Industrial has a 12-month low of $13.69 and a 12-month high of $18.11. The stock has a market cap of $152.30 million, a PE ratio of -138.91 and a beta of -0.22. The company’s 50 day moving average is $14.99 and its 200 day moving average is $15.81.

Modiv Industrial Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be given a $0.0975 dividend. The ex-dividend date is Monday, June 30th. This represents a $1.17 dividend on an annualized basis and a dividend yield of 7.66%. Modiv Industrial’s dividend payout ratio (DPR) is presently 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.