Medalist Diversified REIT, Inc. (NASDAQ:MDRR) to Issue Dividend Increase – $0.07 Per Share

Medalist Diversified REIT, Inc. (NASDAQ:MDRR) announced a quarterly dividend on Wednesday, January 8th,Wall Street Journal reports. Shareholders of record on Monday, January 20th will be paid a dividend of 0.065 per share on Thursday, January 23rd. This represents a $0.26 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend is Friday, January 17th. This is a positive change from Medalist Diversified REIT’s previous quarterly dividend of $0.06.

Medalist Diversified REIT has decreased its dividend payment by an average of 35.7% annually over the last three years.

Medalist Diversified REIT Price Performance

MDRR stock opened at $12.99 on Thursday. Medalist Diversified REIT has a 12 month low of $9.53 and a 12 month high of $15.00. 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 cap of $14.48 million, a P/E ratio of -59.05 and a beta of 0.71. The firm has a fifty day simple moving average of $12.64.

Insider Buying and Selling

In related news, CEO Frank Kavanaugh purchased 20,917 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was purchased at an average cost of $12.29 per share, with a total value of $257,069.93. Following the completion of the acquisition, the chief executive officer now directly owns 228,500 shares in the company, valued at $2,808,265. This trade represents a 10.08 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Benjamin Ore acquired 8,000 shares of the company’s stock in a transaction on Friday, December 13th. The stock was purchased at an average cost of $12.50 per share, for a total transaction of $100,000.00. Following the completion of the purchase, the insider now directly owns 12,500 shares in the company, valued at $156,250. This trade represents a 177.78 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 43,188 shares of company stock valued at $533,987 over the last quarter. 56.10% of the stock is currently owned by insiders.

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.