Key Points
- CEO Aaron Scott Halfacre bought 3,586 Modiv Industrial shares on June 30 at an average price of $17.34, totaling $62,181.24. After the purchase, he owned 137,830 shares worth about $2.39 million.
- This was part of a recent buying streak: Halfacre also bought 5,766 shares on June 26 for $100,847.34, signaling continued insider confidence in the stock.
- Modiv Industrial recently reported a quarterly earnings miss but also announced a monthly dividend of $0.10 per share, implying a 6.9% yield. Analysts currently rate the stock a consensus Hold with a $18.50 target price.
Modiv Industrial, Inc. (NYSE:MDV - Get Free Report) CEO Aaron Scott Halfacre purchased 3,586 shares of the company's stock in a transaction that occurred on Tuesday, June 30th. The shares were acquired at an average cost of $17.34 per share, for a total transaction of $62,181.24. Following the completion of the transaction, the chief executive officer directly owned 137,830 shares of the company's stock, valued at $2,389,972.20. This trade represents a 2.67% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link.
Aaron Scott Halfacre also recently made the following trade(s):
- On Friday, June 26th, Aaron Scott Halfacre purchased 5,766 shares of Modiv Industrial stock. The shares were bought at an average price of $17.49 per share, with a total value of $100,847.34.
Modiv Industrial Stock Down 0.0%
Shares of NYSE:MDV opened at $17.39 on Thursday. The firm has a fifty day moving average of $17.72 and a two-hundred day moving average of $15.87. Modiv Industrial, Inc. has a 12-month low of $13.80 and a 12-month high of $18.83. The firm has a market capitalization of $179.50 million, a P/E ratio of -42.42 and a beta of -0.07.
Modiv Industrial (NYSE:MDV - Get Free Report) last issued its earnings results on Friday, May 8th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.12). Modiv Industrial had a return on equity of 0.07% and a net margin of 0.33%.The firm had revenue of $11.70 million during the quarter, compared to analyst estimates of $11.43 million. Equities research analysts expect that Modiv Industrial, Inc. will post 1.39 earnings per share for the current fiscal year.
Modiv Industrial Dividend Announcement
The firm also recently announced a monthly dividend, which will be paid on Monday, August 10th. Shareholders of record on Monday, August 3rd will be given a dividend of $0.10 per share. This represents a c) annualized dividend and a yield of 6.9%. The ex-dividend date of this dividend is Monday, August 3rd. Modiv Industrial's dividend payout ratio is presently -292.68%.
Institutional Trading of Modiv Industrial
Several institutional investors and hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets increased its stake in shares of Modiv Industrial by 65.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,185 shares of the company's stock valued at $32,000 after acquiring an additional 866 shares during the last quarter. Royal Bank of Canada boosted its position in Modiv Industrial by 648.8% during the fourth quarter. Royal Bank of Canada now owns 2,209 shares of the company's stock valued at $32,000 after purchasing an additional 1,914 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of Modiv Industrial by 3,913.3% in the 2nd quarter. Bank of America Corp DE now owns 3,010 shares of the company's stock valued at $42,000 after buying an additional 2,935 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Modiv Industrial by 858.3% in the second quarter. JPMorgan Chase & Co. now owns 4,935 shares of the company's stock valued at $69,000 after acquiring an additional 4,420 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Modiv Industrial in the 2nd quarter valued at about $72,000. Institutional investors own 8.21% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages recently commented on MDV. Freedom Capital downgraded shares of Modiv Industrial from a "strong-buy" rating to a "hold" rating in a report on Monday, May 4th. Alliance Global Partners reissued a "neutral" rating and set a $19.00 price objective (up from $18.00) on shares of Modiv Industrial in a report on Thursday, May 7th. Zacks Research upgraded Modiv Industrial from a "strong sell" rating to a "hold" rating in a research report on Tuesday, June 23rd. Wall Street Zen lowered shares of Modiv Industrial from a "hold" rating to a "sell" rating in a research report on Sunday, May 10th. Finally, Lucid Cap Mkts lowered Modiv Industrial from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 4th. Six research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $18.50.
Read Our Latest Research Report on Modiv Industrial
Modiv Industrial Company Profile
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Get Free Report)
Modiv Industrial, Inc (NYSE: MDV) is a publicly traded real estate investment trust that specializes in the acquisition, ownership and management of single-tenant industrial properties. The company's portfolio is anchored by net-lease agreements with corporate and public sector tenants, providing stable, long-term cash flows. Modiv Industrial focuses on light manufacturing facilities, warehouse and distribution centers, and similar industrial real estate assets that serve as critical links in supply chains.
Modiv Industrial pursues a geographically diversified strategy, targeting properties in key U.S.
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