Strength Seen in Modiv Industrial, Inc. (MDV): Can Its 7.1% Jump Turn into More Strength?
Modiv Industrial, Inc. MDV shares ended the last trading session 7.1% higher at $15. 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 5.5% loss over the past four weeks.
The increased optimism in the stock can be attributed to the favorable industry fundamentals.
This company is expected to post quarterly funds from operations (FFO) of $0.38 per share in its upcoming report, which represents a year-over-year change of -44.1%. Revenues are expected to be $12.53 million, down 12.8% 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 Industrial, 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 #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Modiv Industrial, Inc. belongs to the Zacks REIT and Equity Trust - Residential industry. Another stock from the same industry, Apartment Income REIT Corp. AIRC, closed the last trading session 1.3% lower at $33.44. Over the past month, AIRC has returned -1.3%.
For Apartment Income REIT Corp. , the consensus FFO per share estimate for the upcoming report has remained unchanged over the past month at $0.64. This represents a change of +8.5% from what the company reported a year ago. Apartment Income REIT Corp. currently has a Zacks Rank of #3 (Hold).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Modiv Industrial, Inc. (MDV) : Free Stock Analysis Report
Apartment Income REIT Corp. (AIRC) : Free Stock Analysis Report
