Medalist Diversified REIT (NASDAQ:MDRR) Trading Down 3.1% – Here’s Why

Shares of Medalist Diversified REIT, Inc. (NASDAQ:MDRR) traded down 3.1% during mid-day trading on Monday . The company traded as low as $12.01 and last traded at $12.01. 9,158 shares traded hands during trading, an increase of 59% from the average session volume of 5,751 shares. The stock had previously closed at $12.40.

Medalist Diversified REIT Price Performance

The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 2.95. The stock’s 50-day moving average is $12.17. The firm has a market capitalization of $13.95 million, a PE ratio of -6.78 and a beta of 0.73.

Medalist Diversified REIT Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 21st. Investors of record on Wednesday, October 16th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Wednesday, October 16th. This represents a $0.24 annualized dividend and a dividend yield of 1.92%. Medalist Diversified REIT’s payout ratio is currently -10.87%.

Insider Buying and Selling at Medalist Diversified REIT

In other news, CEO Frank Kavanaugh purchased 2,380 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was acquired at an average cost of $12.15 per share, with a total value of $28,917.00. Following the acquisition, the chief executive officer now owns 207,583 shares in the company, valued at approximately $2,522,133.45. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders bought 24,623 shares of company stock valued at $300,483 over the last 90 days. 16.92% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Medalist Diversified REIT stock. Renaissance Technologies LLC increased its position in shares of Medalist Diversified REIT, Inc. (NASDAQ:MDRR) by 7.8% during the 2nd quarter, according to its most recent disclosure 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 quarter. Renaissance Technologies LLC owned 1.11% of Medalist Diversified REIT worth $72,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 17.40% of the company’s stock.

About Medalist Diversified REIT

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.