---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-23-009412"
form_type: "8-K"
ticker: "MDRR"
cik: "0001654595"
company_name: "Medalist Diversified, Inc."
filed_at: "2023-05-11T23:59:59+00:00"
generated_at: "2026-06-15T04:15:08.288970+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Medalist Diversified REIT Q1 2023 revenue $2.46M (-15% YoY), FFO ($40,715) vs $387K prior year

## Summary
- Total revenues $2.46M, down 15% YoY; operating loss $340,716 vs $234,398 loss in Q1 2022.
- FFO of ($40,715) vs $387,155 in prior year; AFFO ($657,538) vs $217,023.
- Same property NOI up 1.4% to $1.51M; portfolio occupancy improved to 96.7% from 94.0%.
- Net loss attributable to common shareholders $1.22M ($0.07 per share) vs $0.99M loss ($0.06) a year ago.
- Dividend reduced to $0.01 per share from $0.02; legal expenses of $206K for strategic alternatives.

## SEC filing metadata
- accession: 0001558370-23-009412
- form_type: 8-K
- ticker: MDRR
- cik: 0001654595
- company_name: Medalist Diversified, Inc.
- filed_at: 2023-05-11T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1654595/000155837023009412/0001558370-23-009412-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1654595/000155837023009412/mdrr-20230511x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-23-009412
- JSON: https://secwatch.observer/filing/0001558370-23-009412.json
- Plain text: https://secwatch.observer/filing/0001558370-23-009412.txt

## Key facts
- Earnings Releases
  Medalist Diversified, Inc. reported the three months ended March 31, 2023 results: revenue $2,460,976.
  - Period: the three months ended March 31, 2023
  - Revenue: $2,460,976
  - Result: reported results
  source text: Total revenues decreased by 15% to $2,460,976, down from $2,903,964 for the same quarter in 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1654595/000155837023009412/0001558370-23-009412-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.