Geode Capital Management LLC Purchases 18,549 Shares of Modiv Industrial, Inc. (NYSE:MDV)

Geode Capital Management LLC boosted its holdings in Modiv Industrial, Inc. (NYSE:MDV) by 25.3% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 91,777 shares of the company’s stock after buying an additional 18,549 shares during the period. Geode Capital Management LLC’s holdings in Modiv Industrial were worth $1,543,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. State Street Corp raised its stake in shares of 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 last quarter. Daiwa Securities Group Inc. purchased a new position in Modiv Industrial in the 3rd quarter worth about $45,000. Barclays PLC bought a new position in Modiv Industrial during the 3rd quarter valued at about $87,000. Hollencrest Capital Management bought a new position in Modiv Industrial during the 3rd quarter valued at about $90,000. Finally, Renaissance Technologies LLC boosted its holdings in shares of Modiv Industrial by 20.2% during the 2nd quarter. Renaissance Technologies LLC now owns 47,100 shares of the company’s stock valued at $666,000 after acquiring an additional 7,900 shares during the last quarter. 8.21% of the stock is currently owned by hedge funds and other institutional investors.

Modiv Industrial Stock Down 0.9 %

MDV opened at $14.52 on Thursday. The stock has a market capitalization of $140.06 million, a price-to-earnings ratio of -132.00, a PEG ratio of 2.56 and a beta of -0.20. The firm has a 50 day moving average price of $15.91 and a 200-day moving average price of $15.71. Modiv Industrial, Inc. has a twelve month low of $13.50 and a twelve month high of $18.11.

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

Modiv Industrial Increases Dividend

The company also recently announced a dividend, which will be paid on Tuesday, February 25th. Shareholders of record on Friday, January 31st will be issued a $0.0975 dividend. This is an increase 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 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.