Medalist Diversified REIT posts FY2022 operating loss; forms special committee for strategic alternatives

Medalist Diversified, Inc.

FY2022 operating loss $1.41M vs $0.81M income in 2021; net loss $4.73M vs $4.36M.
NOI grew 6.8% to $6.88M; Same Property NOI up 7.9%; FFO turned positive at $0.997M vs ($0.974M).
Portfolio occupancy 96.0% (up from 94.7%); weighted avg interest rate 4.2%; debt maturity 6.1 years.
Board formed Special Committee of independent directors to explore strategic alternatives for maximizing stockholder value.
Paid Q4 2022 dividend of $0.01 per common share on Jan 27, 2023.

item 2.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.98

Medalist Diversified, Inc. reported financial results for the year ended December 31, 2022.

Period: the year ended December 31, 2022
Result: reported results

Exact text from the filing

Medalist Diversified REIT, Inc. (NASDAQ:MDRR) (the “Company”), a Virginia-based real estate investment trust that specializes in acquiring, owning and managing commercial real estate in the Southeast region of the U.S., today reported financial results for the year ended December 31, 2022

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Medalist Diversified, Inc. filing history →

Source: SEC EDGAR

accession 0001558370-23-003468

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