Charles Brent Winn Jr., the Chief Financial Officer of Medalist Diversified REIT, Inc. (NASDAQ:MDRR), recently acquired 150 shares of the company's common stock. The company, with a market capitalization of $16.46 million, has demonstrated strong fundamentals with a perfect Piotroski Score of 9, according to InvestingPro data. The purchase was made on December 2, 2024, at a price of $12.15 per share, amounting to a total transaction value of $1,822. Following this acquisition, Winn's total holdings in the company increased to 38,224 shares. This transaction reflects Winn's ongoing investment in the real estate investment trust, as indicated in the latest SEC filing. The stock has shown resilience with a 17.9% year-to-date return, though InvestingPro analysis suggests the stock is currently fairly valued. Subscribers can access 8 additional ProTips and comprehensive financial metrics for deeper insight into MDRR's performance.
In other recent news, Medalist Diversified REIT, Inc. has seen significant developments in its corporate structure and strategy. The company's Chief Executive Officer, Francis P. Kavanaugh, has purchased 160,000 units of partnership interest in a private placement sale. This transaction was executed under Rule 506(b) of the Securities Act, which exempts such transactions from public offering requirements.
In addition, Medalist Diversified REIT has approved a reverse stock split of its outstanding common stock, with the ratio ranging from 1-for-10 to 1-for-100, as decided by the Board. This decision received substantial support, with 842,566 votes in favor.
Changes in the company's Board of Directors have also been reported. A. Lee Finley was appointed as a Class II director, while directors Timothy O’Brien and Charles S. Pearson (LON:PSON), Jr. resigned. This led to Francis Kavanaugh assuming the role of Chair of the Board.
Furthermore, Medalist Diversified REIT's stockholders approved the appointment of Cherry Bekaert (EBR:BEKB) LLP as the company's independent registered public accounting firm for the fiscal year ending December 31, 2024. These are among the recent developments for Medalist Diversified REIT.
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