Short Interest in Medalist Diversified REIT, Inc. (NASDAQ:MDRR) Expands By 28.6%

Medalist Diversified REIT, Inc. (NASDAQ:MDRR) was the recipient of a large increase in short interest during the month of October. As of October 15th, there was short interest totalling 1,800 shares, an increase of 28.6% from the September 30th total of 1,400 shares. Based on an average daily volume of 5,700 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.3% of the shares of the stock are short sold.

Medalist Diversified REIT Price Performance

Shares of Medalist Diversified REIT stock opened at $12.19 on Wednesday. The firm has a 50 day moving average of $12.27. The firm has a market capitalization of $13.63 million, a price-to-earnings ratio of -8.07 and a beta of 0.73. Medalist Diversified REIT has a fifty-two week low of $8.24 and a fifty-two week high of $14.94. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 2.95.

Medalist Diversified REIT Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Wednesday, October 16th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.97%. The ex-dividend date was Wednesday, October 16th. Medalist Diversified REIT’s dividend payout ratio is -15.89%.

Insider Buying and Selling at Medalist Diversified REIT

In other Medalist Diversified REIT news, CEO Frank Kavanaugh bought 5,569 shares of the stock in a transaction dated Friday, August 30th. The stock was bought at an average cost of $12.31 per share, for a total transaction of $68,554.39. Following the completion of the purchase, the chief executive officer now owns 205,000 shares in the company, valued at $2,523,550. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last quarter, insiders acquired 24,623 shares of company stock worth $300,483. 56.10% of the stock is currently owned by insiders.

Institutional Trading of Medalist Diversified REIT

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

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.