Modiv Inc. MDV shares ended the last trading session 11.4% higher at $11.92. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 0.8% gain over the past four weeks.
The increased optimism in the stock is attributable to the improving operating fundamentals of its industry.
This company is expected to post quarterly funds from operations (FFO) of $0.33 per share in its upcoming report, which represents a year-over-year change of +13.8%. Revenues are expected to be $11.07 million, up 14.7% from the year-ago quarter.
While FFO and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in FFO estimate revisions and near-term stock price movements.
For Modiv Inc., the consensus FFO per share estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in FFO estimate revisions. So, make sure to keep an eye on MDV going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Modiv Inc. is a member of the Zacks REIT and Equity Trust - Other industry. One other stock in the same industry, Ventas VTR, finished the last trading session 1% lower at $47.18. VTR has returned 11.7% over the past month.
For Ventas, the consensus FFO per share estimate for the upcoming report has changed -0.3% over the past month to $0.70. This represents a change of -11.4% from what the company reported a year ago. Ventas currently has a Zacks Rank of #4 (Sell).
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