Geode Capital Management LLC Raises Position in Modiv Industrial, Inc. (NYSE:MDV)

Geode Capital Management LLC grew its position in shares of Modiv Industrial, Inc. (NYSE:MDV) by 25.3% during the third quarter, according to its most recent filing with the SEC. The firm owned 91,777 shares of the company’s stock after acquiring an additional 18,549 shares during the period. Geode Capital Management LLC owned about 0.95% of Modiv Industrial worth $1,543,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in MDV. Barclays PLC bought a new stake in shares of Modiv Industrial during the third quarter valued at approximately $87,000. Nomura Asset Management Co. Ltd. purchased a new position in Modiv Industrial during the third quarter valued at $205,000. State Street Corp boosted its holdings 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 valued at $256,000 after buying an additional 2,121 shares in the last quarter. Daiwa Securities Group Inc. purchased a new stake in shares of Modiv Industrial in the 3rd quarter worth about $45,000. Finally, Hollencrest Capital Management bought a new position in shares of Modiv Industrial in the 3rd quarter worth about $90,000. Institutional investors own 8.21% of the company’s stock.

Modiv Industrial Price Performance

Shares of NYSE MDV opened at $14.52 on Thursday. Modiv Industrial, Inc. has a 1 year low of $13.50 and a 1 year high of $18.11. The firm has a 50-day moving average of $15.91 and a 200 day moving average of $15.71. The stock has a market cap of $140.06 million, a P/E ratio of -132.00, a price-to-earnings-growth ratio of 2.56 and a beta of -0.20.

Modiv Industrial (NYSE:MDV) last released its earnings results on Wednesday, November 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.52). The business had revenue of $11.59 million for the quarter, compared to analysts’ expectations of $11.90 million. Modiv Industrial had a net margin of 6.72% and a return on equity of 1.42%. During the same quarter in the previous year, the business posted $0.33 earnings per share. Research analysts expect that Modiv Industrial, Inc. will post 1.24 earnings per share for the current fiscal year.

Modiv Industrial Increases Dividend

The business also recently announced a dividend, which will be paid on Tuesday, February 25th. Stockholders of record on Friday, January 31st will be paid a $0.0975 dividend. This is a boost from Modiv Industrial’s previous dividend of $0.10. The ex-dividend date of this dividend is Friday, January 31st. Modiv Industrial’s dividend payout ratio is currently -1,063.64%.

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.