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Medalist Diversified REIT, Inc. (NASDAQ:MDRR), a real estate investment trust with a market capitalization of $17.78 million and annual revenue of $9.74 million, disclosed its financial supplement for the year ended December 31, 2024, today. The document was made available on the company’s website in the "Investors" section and has been furnished as Exhibit 99.1 with the company’s latest 8-K filing to the Securities and Exchange Commission (SEC). According to InvestingPro analysis, the company maintains strong liquidity with a current ratio of 3.08.
The financial supplement provides detailed information regarding the company’s financial performance and position at the end of the fourth quarter of 2024. It is intended to give shareholders and potential investors insight into Medalist Diversified REIT’s operations and financial status. The company has demonstrated robust operational efficiency with a gross profit margin of 75.84%, though InvestingPro data indicates it’s currently trading at a relatively high P/E ratio of 511.14.
In compliance with the SEC’s regulations, Medalist Diversified REIT has clarified that the information included in the financial supplement should not be considered "filed" for purposes of the Securities Exchange Act of 1934, nor should it be incorporated by reference into any registration statement or other document filed under the Exchange Act or the Securities Act of 1933, unless explicitly stated in such filings.
The release of this financial supplement is a standard practice for public companies, allowing them to maintain transparency with investors and comply with disclosure requirements. It provides a snapshot of the company’s financial health and may be used by investors when making investment decisions.
Medalist Diversified REIT, incorporated in Maryland, is listed on the Nasdaq Capital Market under the trading symbol MDRR. The company specializes in acquiring, renovating, and managing commercial properties, including retail, office, and industrial spaces.
Investors interested in reviewing the financial supplement can access it through the company’s website or directly via the SEC’s filing system. This release, based on the company’s SEC filing, ensures that current and potential investors receive the same information simultaneously and fairly.
For further details, investors are encouraged to review the full financial supplement and the associated 8-K filing. With the next earnings report expected on May 9, 2025, investors seeking comprehensive analysis can access additional valuable insights, including 6 key ProTips and advanced financial metrics, through InvestingPro’s detailed company analysis platform.
This article is based on a press release statement.
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 251,600 operating partnership units and a cash payment to cover transaction costs. Additionally, Medalist Diversified REIT finalized the acquisition of a property in Bowling Green, Kentucky, for $2.62 million, excluding closing costs. This transaction also included a mix of cash and equity, with 209,600 operating partnership units issued.
Both acquisitions were structured to include operating partnership units, which are redeemable for cash or common stock, contingent upon stockholder approval. The strategic moves were documented in SEC filings, which highlighted the financial and pro forma details of the transactions. Notably, Frank Kavanaugh, CEO of Medalist Diversified REIT, has connections to the sellers in both transactions, a fact disclosed in the filings. The acquisitions are part of Medalist’s ongoing efforts to bolster its presence in the real estate investment trust sector.
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