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

Modiv Industrial, Inc. (NYSE:MDV - Get Free Report) was the recipient of a large increase in short interest in 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. Based on an average daily trading volume, of 35,000 shares, the days-to-cover ratio is presently 0.8 days. Currently, 0.3% of the shares of the company are short sold.

Modiv Industrial Stock Performance

Shares of Modiv Industrial stock traded down $0.20 during mid-day trading on Tuesday, hitting $15.56. 64,760 shares of the stock were exchanged, compared to its average volume of 30,452. Modiv Industrial has a 12 month low of $13.69 and a 12 month high of $18.11. The company has a 50-day simple moving average of $15.02 and a 200 day simple moving average of $15.79. The company has a market capitalization of $155.07 million, a P/E ratio of -141.44 and a beta of -0.22.

Modiv Industrial Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a dividend of $0.0975 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.17 annualized dividend and a dividend yield of 7.52%. Modiv Industrial's dividend payout ratio is currently 468.00%.

Hedge Funds Weigh In On Modiv Industrial

Several hedge funds have recently modified their holdings of MDV. Daiwa Securities Group Inc. purchased a new stake in shares of Modiv Industrial during the 3rd quarter worth approximately $45,000. State Street Corp increased its stake in shares of Modiv Industrial by 16.3% during the 3rd 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 last quarter. Nomura Asset Management Co. Ltd. purchased a new stake in shares of Modiv Industrial during the 3rd quarter worth approximately $205,000. Barclays PLC purchased a new stake in shares of Modiv Industrial during the 3rd quarter worth approximately $87,000. Finally, Geode Capital Management LLC increased its stake in shares of Modiv Industrial by 25.3% during the 3rd 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 last quarter. Institutional investors own 8.21% of the company's stock.

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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.