Medalist Q3 2022: Net loss $1.74M ($0.10 EPS) but FFO turns positive; NOI up 7.2%

Medalist Diversified, Inc.

2022-Q3 EPS reported -$0.22 revenue$8,340,938

Net loss of $1.74M ($0.10 diluted EPS) for Q3 2022 vs $0.88M loss in Q3 2021.
FFO positive at $96,382 for Q3 2022 (vs negative $62,503); AFFO negative $241,602.
NOI grew 7.2% to $4.98M for nine months ended Sep 2022; same-property NOI up 4.9%.
Portfolio occupancy rose to 96.5% from 93.8%; WALT 4.1 years on retail/flex.
Completed sale of Clemson Best Western for $10.0M, generating $3.5M unrestricted cash.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.7

Medalist Diversified, Inc. reported financial results for the three months ended September 30, 2022.

Period: the three months ended September 30, 2022
Result: reported results

Exact text from the filing

On November 9, 2022, Medalist Diversified REIT, Inc., a Maryland corporation (the “Company”) issued a press release announcing its financial results for the quarterly period ended September 30, 2022 (the “Press Release”) and a financial supplement including reconciliations to certain non-GAAP financial measures (the “Financial Supplement”).

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Medalist Diversified, Inc. filing history →

Source: SEC EDGAR

accession 0001558370-22-017162

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