In a report released today, Barry Oxford from Colliers Securities maintained a Buy rating on Modiv (MDV – Research Report), with a price target of $18.00.
Barry Oxford has given his Buy rating due to a combination of factors including Modiv’s strategic focus on industrial properties and the divestment of retail and office assets, which aligns with favorable migration trends in California and the Sunbelt region. The company’s unique asset locations and attractive valuation further support this rating. Despite slightly elevated leverage, Modiv maintains strong liquidity, enabling continued asset acquisitions when opportunities arise.
Modiv’s financial performance also bolsters the Buy rating, with the company reporting AFFO figures that exceeded both consensus and internal estimates. Additionally, Modiv’s proactive property management activities, such as extending leases and completing property dispositions, demonstrate effective operational strategies. The company’s balance sheet reflects prudent financial management, with fixed-rate indebtedness and no significant debt maturities until 2027, ensuring financial stability and flexibility for future growth.
In another report released yesterday, Alliance Global Partners also reiterated a Buy rating on the stock with a $19.00 price target.