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Ore Benjamin, the controller of Medalist Diversified REIT, Inc. (NASDAQ:MDRR), recently acquired 1,000 shares of the company. The transaction, completed on March 4, amounted to a total value of $12,750, with each share purchased at a price of $12.75. According to InvestingPro data, the company currently boasts a perfect Piotroski Score of 9, indicating strong financial health, while offering a dividend yield of 2.06%. Following this acquisition, Benjamin’s total holdings in the company rose to 14,500 shares. This move reflects continued confidence in the real estate investment trust, which operates in the real estate and construction sector. The company maintains strong liquidity with a current ratio of 6.34 and impressive gross profit margins of 75.84%. InvestingPro analysis suggests the stock is currently trading near its Fair Value, with 7 additional ProTips available for subscribers.
In other recent news, Medalist Diversified REIT has made significant strides in expanding its real estate portfolio with two notable acquisitions. The company completed the purchase of a commercial property in Huntsville, Alabama, for $3.145 million. This acquisition involved issuing 251,600 operating partnership units and a cash payment of $42,446 for transaction costs. In a separate transaction, Medalist Diversified REIT acquired a property in Bowling Green, Kentucky, for $2.62 million. This deal was structured with a combination of cash and 209,600 operating partnership units valued at approximately $12.50 each. Both acquisitions were based on independent property appraisals and were disclosed in filings with the Securities and Exchange Commission. The operating partnership units in both transactions are redeemable for cash or common stock, pending stockholder approval. These strategic acquisitions highlight Medalist Diversified REIT’s ongoing efforts to enhance its presence in the real estate investment sector.
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