Medalist Diversified REIT, Inc. (NASDAQ:MDRR) Short Interest Down 59.4% in May

Medalist Diversified REIT, Inc. (NASDAQ:MDRR – Get Rating) was the target of a large drop in short interest in May. As of May 15th, there was short interest totalling 3,900 shares, a drop of 59.4% from the April 30th total of 9,600 shares. Based on an average trading volume of 6,100 shares, the short-interest ratio is presently 0.6 days. Approximately 0.3% of the shares of the company are short sold.

Medalist Diversified REIT Stock Performance

Shares of MDRR remained flat at $5.50 on Friday. The stock had a trading volume of 573 shares, compared to its average volume of 14,358. The company has a current ratio of 3.41, a quick ratio of 3.41 and a debt-to-equity ratio of 3.53. Medalist Diversified REIT has a 1-year low of $4.68 and a 1-year high of $9.22. The stock’s 50 day moving average is $6.06 and its 200-day moving average is $6.47.

Medalist Diversified REIT Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 28th. Stockholders of record on Tuesday, April 25th were given a dividend of $0.08 per share. The ex-dividend date was Monday, April 24th. This is a boost from Medalist Diversified REIT’s previous quarterly dividend of $0.01. This represents a $0.32 dividend on an annualized basis and a dividend yield of 5.82%. Medalist Diversified REIT’s payout ratio is currently -17.49%.

Institutional Trading of Medalist Diversified REIT

Institutional investors and hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC lifted its stake in shares of Medalist Diversified REIT by 169.0% during the first quarter. Renaissance Technologies LLC now owns 61,595 shares of the company’s stock valued at $65,000 after acquiring an additional 38,695 shares during the period. Virtu Financial LLC bought a new position in shares of Medalist Diversified REIT during the first quarter worth about $75,000. Finally, Vanguard Group Inc. grew its holdings in shares of Medalist Diversified REIT by 166.3% during the third quarter. Vanguard Group Inc. now owns 48,881 shares of the company’s stock worth $40,000 after buying an additional 30,525 shares in the last quarter. 9.76% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, EF Hutton Acquisition Co. I reiterated a “buy” rating and set a $10.00 price target on shares of Medalist Diversified REIT in a report on Monday, March 13th.

Medalist Diversified REIT Company Profile

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Medalist Diversified REIT, Inc engages in the acquisition, reposition, renovate, lease, and management of income-producing properties. It focuses on commercial properties, including flex-industrial and retail properties, multi-family residential properties, and limited service hotel properties. It operates through the following segments: Hotel Properties, Retail Center Properties, and Flex Center Property.