Fintel reports that on May 16, 2023, EF Hutton reiterated coverage of Modiv Inc - Class C (NYSE:MDV) with a Buy recommendation.
Analyst Price Forecast Suggests 16.57% Upside
As of May 11, 2023, the average one-year price target for Modiv Inc - Class C is 16.32. The forecasts range from a low of 13.13 to a high of $18.90. The average price target represents an increase of 16.57% from its latest reported closing price of 14.00.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Modiv Inc - Class C is 47MM, a decrease of 0.42%. The projected annual non-GAAP EPS is -0.43.
Modiv Inc - Class C Declares $0.10 Dividend
On March 14, 2023 the company declared a regular monthly dividend of $0.10 per share ($1.15 annualized). Shareholders of record as of April 28, 2023 will receive the payment on May 25, 2023. Previously, the company paid $0.10 per share.
At the current share price of $14.00 / share, the stock's dividend yield is 8.21%.
Looking back five years and taking a sample every week, the average dividend yield has been 8.61%, the lowest has been 6.13%, and the highest has been 11.67%. The standard deviation of yields is 1.67 (n=53).
The current dividend yield is 0.23 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 2.81. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is -0.46%.
What is the Fund Sentiment?
There are 25 funds or institutions reporting positions in Modiv Inc - Class C. This is an increase of 1 owner(s) or 4.17% in the last quarter. Average portfolio weight of all funds dedicated to MDV is 0.04%, an increase of 663.94%. Total shares owned by institutions increased in the last three months by 9.05% to 574K shares.
What are Other Shareholders Doing?
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 224K shares representing 2.97% ownership of the company. No change in the last quarter.
VEXMX - Vanguard Extended Market Index Fund Investor Shares holds 77K shares representing 1.02% ownership of the company. In it's prior filing, the firm reported owning 77K shares, representing an increase of 0.17%. The firm decreased its portfolio allocation in MDV by 20.66% over the last quarter.
Geode Capital Management holds 56K shares representing 0.74% ownership of the company. No change in the last quarter.
FSMAX - Fidelity Extended Market Index Fund holds 31K shares representing 0.41% ownership of the company. In it's prior filing, the firm reported owning 31K shares, representing a decrease of 0.42%. The firm decreased its portfolio allocation in MDV by 12.69% over the last quarter.
IWC - iShares Micro-Cap ETF holds 16K shares representing 0.21% ownership of the company. In it's prior filing, the firm reported owning 15K shares, representing an increase of 5.92%. The firm decreased its portfolio allocation in MDV by 18.23% over the last quarter.
Key filings for this company:
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
