Frank Kavanaugh, Chairman, CEO, and President of Medalist Diversified REIT, Inc. (NASDAQ:MDRR), recently acquired 5,500 shares of the company's common stock. The purchase, made on December 11, 2024, was executed at a price of $12.35 per share, bringing the total transaction value to $67,925. The stock, which has gained over 25% year-to-date, currently trades at $13.09. According to InvestingPro analysis, the company boasts a perfect Piotroski Score of 9, indicating strong financial strength. Following this acquisition, Kavanaugh's direct holdings in the company increased to 234,000 shares. This transaction reflects Kavanaugh's continued investment in the real estate investment trust, which is incorporated in Maryland and operates out of Richmond, Virginia. With a market capitalization of $17.66 million and a strong current ratio of 4.06, the company maintains solid liquidity. InvestingPro subscribers can access 8 additional key insights about MDRR's financial health and valuation metrics.
"In other recent news, Medalist Diversified REIT, Inc. CEO, Francis P. Kavanaugh, has acquired 160,000 units of partnership interest in a private placement sale. The units, priced at $12.50 each, are redeemable for cash or, with stockholder approval, for company common stock on a one-to-one ratio. This transaction follows Rule 506(b) under Regulation D of the Securities Act, exempting it from public offering requirements. In addition to this, the company has approved an amendment for a reverse stock split of its outstanding common stock, with the ratio ranging from 1-for-10 to 1-for-100 at the Board's discretion. Changes to the company's Board of Directors have also taken place, with A. Lee Finley appointed as a Class II director and Francis Kavanaugh assuming the role of Chair of the Board. Furthermore, 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. These are among the recent developments for Medalist Diversified REIT."
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