Medalist Diversified REIT, Inc. - MDRR STOCK NEWS

Medalist Diversified REIT (NASDAQ:MDRR) reported a third-quarter net loss of $0.87 million, improving from a loss of $1.29 million in Q3 2020. For the nine months ended September 30, 2021, the company incurred a net loss of $3.83 million, a decrease from $4.58 million in the previous year. Net operating income surged by 55% to $1.57 million for Q3 and by 57% to $4.65 million year-to-date. The average occupancy rate for retail and flex properties increased to 94.2%. The company acquired three properties in 2021, expanding its portfolio significantly.

Medalist Diversified REIT, Inc. (NASDAQ: MDRR) acquired a mixed-use Industrial/Flex portfolio in Virginia Beach for $7.3 million. This acquisition includes two buildings totaling 64,109 square feet and was funded partially by cash from a previous stock offering. The company aims to enhance its portfolio with cash-flowing properties, expecting immediate positive cash flow from this acquisition. The Parkway Property purchase reflects Medalist's strategy to build shareholder value through strategic property acquisitions.

Medalist Diversified REIT (NASDAQ: MDRR) has declared a quarterly cash dividend of $0.02 per share. This dividend is scheduled to be payable on October 27, 2021, to shareholders on record as of October 25, 2021. Medalist, based in Virginia, focuses on value-add commercial real estate in the Southeast U.S., aiming to maximize returns through a rigorous acquisition strategy and hands-on property management.

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. The dividend will be paid in cash on October 27, 2021, to holders on record as of October 25, 2021. This announcement underscores Medalist's commitment to returning value to shareholders amid its strategic focus on acquiring and managing commercial real estate in the U.S. Southeast.

Medalist Diversified REIT (NASDAQ: MDRR), a Virginia-based real estate investment trust, announced the successful sale of its Hampton Inn property in Greensboro, North Carolina for $12.9 million. After settling a $10.4 million mortgage and covering sales costs, the net proceeds to Medalist were approximately $1.7 million. CEO Thomas Messier noted that this sale highlights the company's effective strategy. The REIT focuses on managing commercial real estate in the Southeast U.S., aiming to balance risk and returns through a disciplined acquisition process.

Medalist Diversified REIT, Inc. (NASDAQ: MDRR) announced the acquisition of the Greenbrier Business Center in Chesapeake, Virginia, for $7.25 million. This flex industrial center spans approximately 89,290 square feet and is anticipated to generate immediate positive cash flow. The equity investment totaled $3 million, funded by proceeds from the April 2021 public stock offering. Medalist aims to continue acquiring similar cash-flowing properties while reducing hotel investments, demonstrating progress in its strategy to reposition assets post-COVID-19.

Medalist Diversified REIT (NASDAQ: MDRR) announced that CEO Tim Messier will be featured on The RedChip Money Report® on Bloomberg TV, airing August 14 at 7 p.m. ET. This program, reaching an estimated 73 million homes, provides insights into small-cap investing and includes interviews with public company executives. Medalist focuses on acquiring and managing value-add commercial real estate primarily in the Mid-Atlantic and Southeast regions, emphasizing risk-adjusted returns through a rigorous acquisition process.

Medalist Diversified REIT (NASDAQ: MDRR) filed its Quarterly Report on Form 10-Q for Q2 2021 on August 10, 2021. The report is available on both the Company’s and the SEC’s websites. Medalist focuses on acquiring, owning, and managing value-add commercial real estate primarily in the Mid-Atlantic and Southeast regions. The Company's strategy aims for an attractive balance of risk and returns, leveraging a thorough due diligence process for acquisitions. For further details, visit medalistreit.com.

Medalist Diversified REIT (NASDAQ: MDRR) has declared a quarterly cash dividend of $0.02 per share, payable on August 5, 2021 to holders of record as of August 2, 2021. This decision reflects the Board of Directors' consideration of the company's cash flow. Medalist specializes in acquiring and managing commercial real estate in the Southeastern U.S., focusing on value-add opportunities to enhance property performance and monitor market conditions for strategic acquisitions and disposals.