Medalist Diversified REIT (NASDAQ:MDRR) Shares Up 0.7% – Here’s Why

Shares of Medalist Diversified REIT, Inc. (NASDAQ:MDRR) rose 0.7% during mid-day trading on Tuesday . The stock traded as high as $12.98 and last traded at $12.98. 143 shares traded hands during trading, a decline of 91% from the average daily volume of 1,511 shares. The stock had previously closed at $12.89.

Medalist Diversified REIT Stock Performance

The company has a debt-to-equity ratio of 3.05, a quick ratio of 4.01 and a current ratio of 4.01. The stock has a market capitalization of $14.48 million, a P/E ratio of -59.05 and a beta of 0.71. The firm has a 50 day simple moving average of $12.64.

Medalist Diversified REIT Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 23rd. Shareholders of record on Monday, January 20th will be issued a $0.065 dividend. This represents a $0.26 dividend on an annualized basis and a yield of 2.00%. This is an increase from Medalist Diversified REIT’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Friday, January 17th. Medalist Diversified REIT’s dividend payout ratio is presently -109.09%.

Insider Activity

In related news, insider Benjamin Ore purchased 8,000 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The shares were purchased at an average price of $12.50 per share, with a total value of $100,000.00. Following the purchase, the insider now owns 12,500 shares of the company’s stock, valued at $156,250. This trade represents a 177.78 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Frank Kavanaugh bought 5,500 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was purchased at an average price of $12.35 per share, with a total value of $67,925.00. Following the completion of the acquisition, the chief executive officer now owns 234,000 shares of the company’s stock, valued at approximately $2,889,900. This trade represents a 2.41 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 43,188 shares of company stock worth $533,987. Corporate insiders own 56.10% of the company’s stock.

Institutional Investors Weigh In On Medalist Diversified REIT

A hedge fund recently raised its stake in Medalist Diversified REIT stock. Renaissance Technologies LLC grew its position in Medalist Diversified REIT, Inc. (NASDAQ:MDRR) by 7.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,449 shares of the company’s stock after purchasing an additional 900 shares during the period. Renaissance Technologies LLC owned about 1.11% of Medalist Diversified REIT worth $72,000 at the end of the most recent quarter. 17.40% of the stock is currently owned by institutional investors.

Medalist Diversified REIT Company Profile

Medalist Diversified REIT Inc is a Virginia-based real estate investment trust that specializes in acquiring, owning and managing commercial real estate in the Southeast region of the U.S. The Company's strategy is to focus on commercial real estate which is expected to provide an attractive balance of risk and returns.