Medalist Diversified REIT (NASDAQ:MDRR) is seeing massive gains to MDRR stock on Wednesday.
Here’s what possible investors need to know about the company.
- Medalist Diversified REIT is a real estate investment trust (REIT) with its base of operations in Virginia.
- Its operations are limited to the Southeastern part of the U.S.
- The company prefers to focus on small to medium assets instead of larger more expensive ones.
- It currently manages a total of six properties.
- They are Franklin Square Shopping Center, Greensboro Hampton Inn, Hanover Square North Shopping Center, Ashley Plaza, Clemson Best Western Hotel and Brookfield Center.
- The company’s assets are split into two management groups.
- Marshall Management handles all of the hotel properties under MDRR’s control.
- Dodson Property Management manages Medalist Diversified REIT’s non-hotel properties.
- Some o the major tenants at the company’s commercial properties include Gap’s (NYSE:GPS) Old Navy, TJX Companies’ (NYSE:TJX) Marshalls, Buffalo Wild Wings, Hobby Lobby and Planet Fitness (NYSE:PLNT).
- The company is led by Thomas Messier and William Elliott.
- Messier serves as the Chairman of the Board and CEO of the company.
- Elliott is the founder, Vice Chairman of the Board and COO of MDRR.
- Medalist Diversified REIT also recently announced a dividend for its 8.0% Series A Cumulative Redeemable Preferred Stock.
- The dividend is 50 cents per share and is payable Oct. 26, 2020 to MDRR shareholders on record Oct. 23, 2020.
MDRR stock was up 239.1% as of Wednesday morning.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.