Medalist Diversified REIT, Inc. (NASDAQ:MDRR) Increases Dividend to $0.02 Per Share

Medalist Diversified REIT, Inc. (NASDAQ:MDRR) announced a quarterly dividend on Monday, April 8th, Zacks reports. Investors of record on Monday, April 22nd will be paid a dividend of 0.02 per share on Thursday, April 25th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend is Friday, April 19th. This is an increase from Medalist Diversified REIT’s previous quarterly dividend of $0.01.

Medalist Diversified REIT has decreased its dividend by an average of 45.7% annually over the last three years.

Medalist Diversified REIT Stock Performance

NASDAQ:MDRR opened at $5.45 on Wednesday. Medalist Diversified REIT has a 52 week low of $4.12 and a 52 week high of $6.80. The company has a fifty day simple moving average of $5.59 and a two-hundred day simple moving average of $5.35. The company has a debt-to-equity ratio of 4.40, a quick ratio of 1.96 and a current ratio of 1.96.

Insider Activity at Medalist Diversified REIT

In related news, CEO Frank Kavanaugh acquired 6,749 shares of the stock in a transaction dated Wednesday, March 13th. The stock was acquired at an average cost of $5.75 per share, with a total value of $38,806.75. Following the completion of the transaction, the chief executive officer now owns 265,787 shares in the company, valued at approximately $1,528,275.25. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Over the last three months, insiders purchased 30,264 shares of company stock worth $170,073. Company insiders own 16.92% of the company’s stock.

Institutional Investors Weigh In On Medalist Diversified REIT

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Medalist Diversified REIT by 166.3% during the third 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. Renaissance Technologies LLC raised its stake in Medalist Diversified REIT by 23.4% in the second quarter. Renaissance Technologies LLC now owns 75,998 shares of the company’s stock valued at $63,000 after buying an additional 14,403 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in Medalist Diversified REIT during the 1st quarter worth about $75,000. 17.40% of the stock is currently owned by institutional investors and hedge funds.

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.