Medalist Diversified REIT, Inc. (NASDAQ:MDRR) declared a quarterly dividend on Tuesday, October 12th, Zacks reports. Stockholders of record on Monday, October 25th will be given a dividend of 0.02 per share on Wednesday, October 27th. This represents a $0.08 annualized dividend and a dividend yield of 6.67%. The ex-dividend date of this dividend is Friday, October 22nd.
Medalist Diversified REIT has a payout ratio of -5.7% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.
NASDAQ MDRR opened at $1.20 on Thursday. The stock’s 50-day moving average price is $1.22 and its 200-day moving average price is $1.36. The company has a quick ratio of 7.47, a current ratio of 7.47 and a debt-to-equity ratio of 2.58. Medalist Diversified REIT has a 52 week low of $1.06 and a 52 week high of $6.13. The company has a market capitalization of $19.52 million, a P/E ratio of -0.82 and a beta of 0.91.
A number of large investors have recently added to or reduced their stakes in the business. State Street Corp bought a new stake in Medalist Diversified REIT in the 2nd quarter worth approximately $35,000. Citadel Advisors LLC increased its stake in Medalist Diversified REIT by 168.9% in the 2nd quarter. Citadel Advisors LLC now owns 97,461 shares of the company’s stock worth $133,000 after acquiring an additional 61,223 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in Medalist Diversified REIT by 218,123.6% in the 2nd quarter. Wells Fargo & Company MN now owns 480,092 shares of the company’s stock worth $653,000 after acquiring an additional 479,872 shares during the last quarter. 8.47% of the stock is currently owned by institutional investors and hedge funds.
About Medalist Diversified REIT
Medalist Diversified REIT, Inc engages in the acquisition, reposition, renovate, lease, and management of income-producing properties. It focuses on commercial properties, including flex-industrial and retail properties, multi-family residential properties, and limited service hotel properties. It operates through the following segments: Hotel Properties, Retail Center Properties, and Flex Center Property.
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