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Medalist Diversified, Inc. reports developments tied to its commercial real estate portfolio and Delaware Statutory Trust sponsor platform. The company sponsors DST offerings through MDRR Sponsor TRS, LLC for accredited 1031 exchange investors, while its real estate activity has included retail centers, flex/industrial properties and single-tenant net lease properties.
Recurring updates include common stock dividends, DST offering announcements, property acquisitions and dispositions, credit arrangements, board composition and corporate repositioning from its prior REIT framework toward a broader public real estate company structure.
Medalist Diversified REIT (NASDAQ: MDRR) has declared a quarterly cash dividend of $0.02 per share, which will be payable on April 21, 2022, to holders of record as of April 18, 2022. The company focuses on acquiring and managing value-add commercial real estate in the Southeast U.S., aiming to maximize operating performance through hands-on property management.
Medalist Diversified REIT (NASDAQ: MDRR) has declared a dividend of $0.5000 per share for the 1st quarter of 2022 on its 8.0% Series A Cumulative Redeemable Preferred Stock. This dividend will be payable in cash on April 21, 2022, to holders of record as of April 18, 2022. Medalist focuses on acquiring and managing commercial real estate in the Southeast U.S., employing a hands-on property management approach to enhance operational performance.
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Medalist Diversified REIT (NASDAQ:MDRR) reported strong financial results for the year ended December 31, 2021. Total revenues rose by 24% to $11.48 million, with net operating income up 57% to $6.44 million. The net loss narrowed to $4.36 million, improving from $8.18 million in 2020. EBITDA surged by 378% to $4.54 million, while adjusted funds from operations turned positive at $332,514. The company also expanded its portfolio by 77% in square footage, achieving a 95.2% occupancy rate. Key acquisitions were made throughout the year, including three properties.
Medalist Diversified REIT (NASDAQ: MDRR) approved a share repurchase program allowing management to buy back up to 500,000 shares at a maximum price of $4.80 per share. As of February 8, 2022, the company has repurchased 268,070 shares. The decision to repurchase is based on factors such as capital needs, market conditions, and stock price. CEO Thomas E. Messier emphasized the commitment to enhance shareholder value while also focusing on property acquisitions. The program may be adjusted or suspended at the company's discretion.
Medalist Diversified REIT, Inc. (NASDAQ: MDRR) shared a Letter to Shareholders from CEO Thomas E. Messier, highlighting accomplishments in 2021. The company successfully navigated challenges posed by COVID-19, declaring its third consecutive quarterly dividend and introducing a 500,000-share buyback program. Notable portfolio growth includes a sale generating $1.7 million and a 92% increase in property square footage. Revenues reached $8.69 million, up 26% year-over-year. The company plans further acquisitions and share buybacks, emphasizing a strong outlook for 2022.
Medalist Diversified REIT (NASDAQ: MDRR) has announced a share repurchase program allowing the purchase of up to 500,000 shares at a maximum price of $4.80 per share. This decision reflects the company's commitment to enhancing shareholder value while pursuing property acquisitions. The timing of the repurchases will depend on capital needs, market conditions, and stock performance. CEO Thomas E. Messier emphasized the importance of both investments in real estate and strategic buybacks to strengthen capital structure.
Medalist Diversified REIT (NASDAQ: MDRR) has declared a quarterly cash dividend of $0.02 per share on its common stock. This dividend will be payable on January 20, 2022, to shareholders on record as of January 13, 2022. The Company, based in Virginia, focuses on acquiring and managing commercial real estate in the Southeast U.S., aiming to enhance operating performance through a hands-on approach. For more details, visit medalistreit.com.
Medalist Diversified REIT, Inc. (NASDAQ: MDRR) has declared a dividend of $0.5000 per share for its 8.0% Series A Cumulative Redeemable Preferred Stock for the 4th quarter of 2021. This dividend will be paid in cash on January 20, 2022, to shareholders on record as of January 13, 2022. Medalist specializes in commercial real estate in the Southeast U.S., focusing on value-add opportunities and employing a hands-on property management approach to maximize performance.
Medalist Diversified REIT, Inc. (NASDAQ: MDRR), a Virginia-based real estate investment trust, announced an interview with CEO Tim Messier on the RedChip Money Report® airing on Bloomberg TV on Sat., Dec. 4, at 7 p.m. ET. The show reaches approximately 73 million households in the U.S. and provides insights into small-cap investing. Medalist targets commercial real estate in the Southeast U.S., applying a systematic approach to acquisitions.