Welcome to our dedicated page for Medalist Diversified Reit news (Ticker: MDRR), a resource for investors and traders seeking the latest updates and insights on Medalist Diversified Reit stock.
Medalist Diversified REIT Inc (MDRR) delivers timely updates on commercial property acquisitions, financial performance, and strategic initiatives in southeastern U.S. markets. This centralized news hub provides investors with essential information about the REIT's flex-industrial assets, retail centers, and hotel property management activities.
Access official press releases detailing quarterly earnings, portfolio expansions, and operational milestones. Our curated news collection features verified updates on property repositioning projects, lease agreements, and market-specific developments across Virginia, North Carolina, and other key operating regions.
Key content includes financial disclosures, asset management updates, and strategic partnership announcements. Bookmark this page for direct access to MDRR's latest retail center renovations, STNL property acquisitions, and UPREIT structure optimizations. Check regularly for new developments impacting this real estate investment trust's market position and income-producing assets.
Medalist Diversified REIT (NASDAQ: MDRR) has declared a quarterly cash dividend of $0.02 per share on its common stock. This dividend is payable on July 21, 2022, for shareholders on record as of July 18, 2022. CEO Thomas Messier highlighted that this dividend reflects the Board's confidence in the company's operating cash flow and portfolio strength. Medalist focuses on value-add commercial real estate in the Mid-Atlantic and Southeast regions, aiming to optimize property performance.
Medalist Diversified REIT (NASDAQ: MDRR) has announced a dividend of $0.50 per share on its 8.0% Series A Cumulative Redeemable Preferred Stock for the 2nd quarter of 2022. The dividend is payable on July 21, 2022 to shareholders on record as of July 18, 2022. The company focuses on acquiring and managing commercial real estate in the Southeast U.S., employing a strategy aimed at value-add opportunities for optimal returns.
Medalist Diversified REIT, Inc. (NASDAQ: MDRR) has successfully acquired the Salisbury Marketplace, a shopping center in Salisbury, North Carolina, for $10.025 million. This property spans 79,732 square feet and is anchored by major retailers like Food Lion and Family Dollar. Medalist invested approximately $3.3 million in cash for this acquisition. On June 13, 2022, Medalist secured $18.6 million in financing from Wells Fargo Bank to fund the purchase and refinance existing properties, enhancing their financial position for future growth.
Medalist Diversified REIT (NASDAQ:MDRR) reported financial results for Q1 2022, showing total revenues increased by 8.7% to $2.90 million. Retail center and flex property revenues rose significantly, by 27.8% and 235.5%, respectively. Net operating income increased 26% to $1.88 million, while EBITDA saw a substantial 54% rise, reaching $1.20 million. Despite a net loss of $(989,284), this represents an improvement from last year. The company maintained a 94.0% occupancy rate across its properties and paid a quarterly dividend of $0.02.
Medalist Diversified REIT (NASDAQ: MDRR) has declared a quarterly cash dividend of
Medalist Diversified REIT (NASDAQ: MDRR) has declared a dividend of
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.
