Medalist Diversified REIT, Inc. (NASDAQ:MDRR) Short Interest Up 888.9% in March

Medalist Diversified REIT, Inc. (NASDAQ:MDRR) was the target of a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 17,800 shares, a growth of 888.9% from the February 29th total of 1,800 shares. Based on an average trading volume of 8,400 shares, the days-to-cover ratio is presently 2.1 days. Currently, 1.8% of the company’s stock are sold short.

Insider Buying and Selling at Medalist Diversified REIT

In other Medalist Diversified REIT news, CEO Frank Kavanaugh purchased 6,749 shares of Medalist Diversified REIT stock in a transaction on Wednesday, March 13th. The stock was bought at an average cost of $5.75 per share, with a total value of $38,806.75. Following the transaction, the chief executive officer now owns 265,787 shares of the company’s stock, valued at approximately $1,528,275.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last ninety days, insiders bought 30,264 shares of company stock valued at $170,073. 16.92% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Medalist Diversified REIT

Several institutional investors and hedge funds have recently modified their holdings of MDRR. Renaissance Technologies LLC raised its stake in shares of Medalist Diversified REIT by 169.0% during the first quarter. Renaissance Technologies LLC now owns 61,595 shares of the company’s stock valued at $65,000 after purchasing an additional 38,695 shares during the period. Virtu Financial LLC bought a new position in Medalist Diversified REIT in the 1st quarter valued at about $75,000. Vanguard Group Inc. raised its holdings in shares of Medalist Diversified REIT by 166.3% in the 3rd quarter. Vanguard Group Inc. now owns 48,881 shares of the company’s stock worth $40,000 after purchasing an additional 30,525 shares in the last quarter. Finally, Stilwell Value LLC acquired a new stake in shares of Medalist Diversified REIT during the third quarter valued at approximately $121,000. Hedge funds and other institutional investors own 17.40% of the company’s stock.

Medalist Diversified REIT Stock Down 0.3 %

Shares of NASDAQ:MDRR traded down $0.02 during trading hours on Thursday, reaching $5.77. The stock had a trading volume of 3,072 shares, compared to its average volume of 7,668. Medalist Diversified REIT has a 1 year low of $4.12 and a 1 year high of $6.90. The company has a debt-to-equity ratio of 4.40, a quick ratio of 1.96 and a current ratio of 1.96. The stock has a market capitalization of $12.92 million, a price-to-earnings ratio of -3.64 and a beta of 0.90. The firm’s 50 day moving average is $5.42 and its 200-day moving average is $5.31.

Medalist Diversified REIT Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 2nd. Investors of record on Thursday, February 1st were issued a dividend of $0.01 per share. The ex-dividend date was Wednesday, January 31st. This represents a $0.04 annualized dividend and a yield of 0.69%. Medalist Diversified REIT’s dividend payout ratio is presently -2.52%.

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.