Short Interest in Medalist Diversified REIT, Inc. (NASDAQ:MDRR) Drops By 28.1%

Medalist Diversified REIT, Inc. (NASDAQ:MDRR) saw a large drop in short interest in November. As of November 15th, there was short interest totalling 2,300 shares, a drop of 28.1% from the October 31st total of 3,200 shares. Based on an average daily volume of 5,100 shares, the short-interest ratio is presently 0.5 days. Currently, 0.4% of the shares of the stock are short sold.

Medalist Diversified REIT Trading Down 1.1 %

MDRR stock traded down $0.14 during midday trading on Friday, hitting $12.25. The stock had a trading volume of 1,375 shares, compared to its average volume of 5,593. The company’s fifty day moving average price is $12.21. Medalist Diversified REIT has a 1-year low of $8.24 and a 1-year high of $14.94. The company has a current ratio of 4.01, a quick ratio of 4.01 and a debt-to-equity ratio of 3.05. The firm has a market cap of $13.72 million, a price-to-earnings ratio of -56.32 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. Shareholders of record on Wednesday, October 16th were issued a $0.06 dividend. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $0.24 dividend on an annualized basis and a yield of 1.96%. Medalist Diversified REIT’s payout ratio is currently -109.09%.

Insider Activity

In other Medalist Diversified REIT news, CEO Frank Kavanaugh bought 20,917 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were acquired at an average cost of $12.29 per share, for a total transaction of $257,069.93. Following the transaction, the chief executive officer now directly owns 228,500 shares in the company, valued at approximately $2,808,265. This represents a 10.08 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders have purchased 26,931 shares of company stock worth $330,502. Corporate insiders own 56.10% of the company’s stock.

Institutional Trading of Medalist Diversified REIT

A hedge fund recently raised its stake in Medalist Diversified REIT stock. Renaissance Technologies LLC grew its position in shares of Medalist Diversified REIT, Inc. (NASDAQ:MDRR) by 7.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,449 shares of the company’s stock after acquiring an additional 900 shares during the quarter. Renaissance Technologies LLC owned about 1.11% of Medalist Diversified REIT worth $72,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors 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.