Medalist Diversified REIT, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 14, 2023 at 03:01 am IST
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Medalist Diversified REIT, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 2.59 million compared to USD 2.84 million a year ago. Revenue was USD 2.59 million compared to USD 2.84 million a year ago. Net loss was USD 1.95 million compared to USD 1.75 million a year ago. Basic loss per share from continuing operations was USD 0.88 compared to USD 0.8 a year ago.
For the nine months, sales was USD 7.57 million compared to USD 8.33 million a year ago. Revenue was USD 7.57 million compared to USD 8.34 million a year ago. Net loss was USD 4.05 million compared to USD 3.76 million a year ago. Basic loss per share from continuing operations was USD 1.82 compared to USD 1.77 a year ago.
Medalist Diversified REIT, Inc. is a real estate investment trust. The Company is engaged in acquiring, repositioning, renovating, leasing, and managing income-producing properties, with a primary focus on commercial properties, including flex-industrial and retail properties, multifamily residential properties and hotel properties. The Company's segments are retail center properties and flex center properties. Retail center properties, consisting of the Franklin Square Property, have an undivided 84% tenant-in-common interest in the Hanover Square Property, the Ashley Plaza Property, the Lancer Center Property and the Salisbury Marketplace Property. Flex center properties, consisting of the Brookfield Center Property, the Greenbrier Business Center Property and an undivided 82% tenant-in-common interest in the Parkway Property. It invests in properties in the southeastern part of the United States, with a focus in Virginia, North Carolina, South Carolina, Georgia, Florida and Alabama.