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

by · The Cerbat Gem

Medalist Diversified REIT, Inc. (NASDAQ:MDRR – Get Free Report) was the recipient of a large growth in short interest during the month of October. As of October 15th, there was short interest totalling 1,800 shares, a growth 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 currently 0.3 days. Currently, 0.3% of the company’s stock are short sold.

Insiders Place Their Bets

In related news, CEO Frank Kavanaugh purchased 2,380 shares of the stock in a transaction on Friday, September 13th. The shares were purchased at an average price of $12.15 per share, with a total value of $28,917.00. Following the transaction, the chief executive officer now directly owns 207,583 shares of the company’s stock, valued at $2,522,133.45. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have purchased 24,623 shares of company stock valued at $300,483 in the last 90 days. 56.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Medalist Diversified REIT stock. Renaissance Technologies LLC boosted its position in Medalist Diversified REIT, Inc. (NASDAQ:MDRR – Free Report) by 7.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,449 shares of the company’s stock after purchasing an additional 900 shares during the quarter. Renaissance Technologies LLC owned about 1.11% of Medalist Diversified REIT worth $72,000 at the end of the most recent reporting period. Institutional investors own 17.40% of the company’s stock.

Medalist Diversified REIT Trading Up 1.5 %

Shares of NASDAQ MDRR opened at $12.19 on Wednesday. The company has a debt-to-equity ratio of 2.95, a current ratio of 5.06 and a quick ratio of 5.06. Medalist Diversified REIT has a 12 month low of $8.24 and a 12 month high of $14.94. The business’s 50 day simple moving average is $12.27. The company has a market cap of $13.63 million, a P/E ratio of -8.07 and a beta of 0.73.

Medalist Diversified REIT Cuts Dividend

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

Medalist Diversified REIT Company Profile

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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.

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