RICHMOND, VA—Charles Brent Winn Jr., the Chief Financial Officer of Medalist Diversified REIT, Inc. (NASDAQ:MDRR), has recently acquired additional shares in the company. According to a filing with the Securities and Exchange Commission, Winn purchased 200 shares of common stock on December 4, 2024. The shares were bought at a price of $12.15 each, amounting to a total transaction value of $2,430. The purchase comes as MDRR shows strong financial fundamentals, achieving a perfect Piotroski Score of 9 according to InvestingPro data, with the stock up nearly 19% year-to-date.
Following this transaction, Winn now directly owns 38,424 shares of the company's stock. Medalist Diversified REIT, headquartered in Richmond, Virginia, is a real estate investment trust focusing on acquiring, owning, and managing commercial real estate properties. With a market capitalization of $16.6 million and a strong current ratio of 4.06, the company maintains healthy liquidity. Based on InvestingPro Fair Value analysis, the stock appears fairly valued, with additional insights and 8 more ProTips available to subscribers.
In other recent news, Medalist Diversified REIT, Inc. has seen a series of significant developments. The company's CEO, Francis P. Kavanaugh, has acquired 160,000 units of partnership interest through a private placement sale, according to a Subscription Agreement finalized with Medalist Diversified Holdings, L.P. The units, priced at $12.50 each, can be redeemed for cash or shares of the company's common stock, subject to stockholder approval.
In another major development, Medalist Diversified REIT approved an amendment to conduct a reverse stock split of its outstanding common stock, with the ratio ranging from 1-for-10 to 1-for-100 at the Board's discretion. This proposal received strong support with 842,566 votes in favor.
The company also reported changes to its Board of Directors. A. Lee Finley was appointed as a Class II director, while directors Timothy O’Brien and Charles S. Pearson (LON:PSON), Jr. resigned. This resulted in the Board resizing to five directors and Francis Kavanaugh assuming the role of Chair of the Board.
Furthermore, David Lunin was elected as a Class I director for a three-year term, and Cherry Bekaert (EBR:BEKB) LLP was ratified as the company's independent registered public accounting firm for the fiscal year ending December 31, 2024. These recent developments provide a glimpse into the ongoing strategic decisions within Medalist Diversified REIT.
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