RICHMOND, VA— Medalist Diversified REIT, Inc. (NASDAQ:MDRR), a small-cap REIT with a market capitalization of $17.7 million, saw its Chief Financial Officer, Winn Charles Brent Jr., make a significant purchase of the company's stock. According to InvestingPro data, the company maintains a strong financial position with a current ratio of 4.06, indicating robust liquidity. According to a recent SEC filing, the CFO acquired 6,000 shares of common stock on December 13, 2024. The shares were bought at a price of $12.50 each, amounting to a total purchase value of $75,000. The stock currently trades at $13.09, showing a modest gain since the purchase. Following this transaction, Winn's direct ownership in the company stands at 44,424 shares. This move reflects a notable investment by a key executive in the real estate investment trust, which has posted a 25% gain year-to-date. InvestingPro analysis reveals the company boasts a perfect Piotroski Score of 9, suggesting strong financial strength. Subscribers can access 7 additional ProTips and comprehensive insider trading analysis on the platform.
In other recent news, Medalist Diversified REIT, Inc. has been involved in a significant agreement with its CEO, Francis P. Kavanaugh, concerning a private placement sale of 160,000 partnership interest units. These units, priced at $12.50 each, are redeemable for cash or, with stockholder approval, for the company's common stock. This transaction is in accordance with Rule 506(b) under Regulation D of the Securities Act, as outlined in the Subscription Agreement filed with the SEC.
Other recent developments include the company's decision to conduct a reverse stock split of its outstanding common stock, a decision supported by 842,566 votes. Changes have been made to the company's Board of Directors, with A. Lee Finley appointed as a Class II director, and the resignations of directors Timothy O’Brien and Charles S. Pearson (LON:PSON), Jr. This has resulted in Francis Kavanaugh assuming the role of Chair of the Board.
Lastly, David Lunin was elected as a Class I director for a three-year term, and Cherry Bekaert (EBR:BEKB) LLP was ratified as the company's independent registered public accounting firm for the fiscal year ending December 31, 2024. The frequency of future advisory votes on executive compensation was also approved to occur annually.
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