B. Riley has reiterated a Buy rating for Modiv (MDV, Financial) and set a price target of $18. This update follows a shift in coverage by the firm. Despite Modiv's strategic focus on holding an internally managed portfolio primarily comprised of industrial manufacturing properties, the company's market valuation remains notably lower compared to the general single-tenant net lease sector and several of its competitors.
The analyst highlights that Modiv's remaining non-core assets remain appealing due to their transparency, yet the firm's stock continues to trade at a discount. This discrepancy presents a potential opportunity for investors considering the long-term growth and stability offered by Modiv's portfolio.
