Is Modiv Industrial, Inc. overvalued or undervalued?

As of 6 November 2024, Modiv Industrial, Inc. has moved from a valuation grade of risky to very attractive, indicating a significant positive shift in its valuation outlook. The company is currently considered undervalued. Key ratios include a P/E ratio of 51, a Price to Book Value of 0.83, and an EV to EBITDA of 3.83, which suggest that the stock is trading at a lower valuation compared to its earnings and book value.
In comparison to its peers, Modiv Industrial's P/E ratio of 51 is notably higher than that of Industrial Logistics Properties Trust, which is at a negative P/E of -3.19, and City Office REIT, Inc. with a P/E of -21.32. This indicates that while Modiv is perceived as having strong earnings potential, its valuation is not out of line with the broader market sentiment towards its peers, many of which are struggling. Additionally, the company has a dividend yield of 6.60%, which adds to its attractiveness. Despite recent underperformance compared to the S&P 500 on a year-to-date basis, the overall valuation metrics suggest that Modiv Industrial, Inc. presents a compelling investment opportunity at its current price.