HomeEquities ScoreHere is why Medalist Diversified REIT Inc. (MDRR) stock rallied in the...

Here is why Medalist Diversified REIT Inc. (MDRR) stock rallied in the after-hours on Thursday?

Medalist Diversified REIT Inc. (MDRR) shares soared 22.55% in after-hours on Thursday, December 30, 2021, and closed at $1.25. Even in the regular trading session, MDRR’s stock gained 2.93%. MDRR shares have fallen 53.21% over the last 12 months, and they have moved down 0.00% in the past week. Over the past three months, the stock has lost 17.74%, while over the past six months, it has declined 23.88%.

Let’s have a look at its recent news and developments.


3 Tiny Stocks Primed to Explode The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.

We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.

Click here for full details and to join for free.

Sponsored


>> 7 Top Picks for the Post-Pandemic Economy << 

MDRR Stock Repurchase Program

On December 30, 2021, the board of directors of Medalist Diversified REIT, Inc. (MDRR) approved a stock repurchase program that will allow management to purchase up to 500,000 shares of the Company’s common stock in the open market, up to a maximum price of $4.80 per share.

Read More

The repurchase program does not obligate the Company to acquire any particular number of shares, and the repurchase program may be suspended or discontinued at any time at the Company’s discretion.

MDRR Dividend Declaration

On December 22, 2021, the Medalist Diversified REIT (MDRR) Board of Directors authorized and the Company has declared a quarterly cash dividend on its common stock for $0.02 per share.

The Q4 2021 Dividend will be payable in cash on January 20, 2022, to holders of record of the Common Stock as of January 13, 2022.

Earlier on December 22, 2021, the Company declared a dividend for the 4th quarter of 2021 on its 8.0% Series A Cumulative Redeemable Preferred Stock for $0.5000 per share.

The Series A Dividend will be payable in cash on January 20, 2022, to holders of record of Series A Preferred Stock as of January 13, 2022.

MDRR latest financial results

On November 15, 2021, Medalist Diversified REIT, Inc. (MDRR) reported financial results for the third quarter ended September 30, 2021.

Q3 2021 financial highlights

  • MDRR total revenue was $3.03 million in Q3 2021 compared to $2.36 million in Q3 2020.
  • Total operating expenses were $3.09 million in Q3 2021 compared to $2.79 million in Q3 2020.
  • It suffered a net loss of $0.87 million, or $0.05 per basic and diluted share in Q3 2021, compared to a net loss of $1.29 million, or $0.27 per basic and diluted share in Q3 2020.
  • EBITDA was $0.88 million in the third quarter of 2021 compared to $0.56 million in Q3 2020.

    >> 7 Top Picks for the Post-Pandemic Economy << 

Conclusion

Medalist stock rallied after the company announced the stock repurchase program. We hope that it will continue its momentum on the last trading day of the year as well.

Related Videos

Must Read

Related News

LEAVE A REPLY

Please enter your comment!
Please enter your name here

[class^="wpforms-"]
[class^="wpforms-"]