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

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

Institutional Trading of Medalist Diversified REIT

A number of institutional investors have recently modified their holdings of MDRR. Vanguard Group Inc. boosted its holdings in Medalist Diversified REIT by 166.3% in the 3rd quarter. Vanguard Group Inc. now owns 48,881 shares of the company’s stock worth $40,000 after acquiring an additional 30,525 shares during the period. Renaissance Technologies LLC boosted its holdings in Medalist Diversified REIT by 23.4% in the 2nd quarter. Renaissance Technologies LLC now owns 75,998 shares of the company’s stock worth $63,000 after acquiring an additional 14,403 shares during the period. Finally, Virtu Financial LLC purchased a new position in Medalist Diversified REIT in the 1st quarter worth approximately $75,000. Hedge funds and other institutional investors own 9.76% of the company’s stock.

Analyst Upgrades and Downgrades

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

Medalist Diversified REIT Stock Performance

Shares of Medalist Diversified REIT stock remained flat at $5.50 during trading on Friday. 573 shares of the stock were exchanged, compared to its average volume of 14,358. The stock has a fifty day moving average price of $6.06 and a 200-day moving average price of $6.47. Medalist Diversified REIT has a fifty-two week low of $4.68 and a fifty-two week high of $9.22. The company has a debt-to-equity ratio of 3.53, a current ratio of 3.41 and a quick ratio of 3.41.

Medalist Diversified REIT Increases Dividend

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

About Medalist Diversified REIT

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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.