Medalist Diversified REIT, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 13, 2023 at 04:31 pm EST
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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 1.76 compared to USD 1.6 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 3.64 compared to USD 3.54 a year ago.
Medalist Diversified REIT, Inc. is a real estate investment trust that specializes in acquiring, owning and managing value-add commercial real estate in the Mid-Atlantic and Southeast regions of the United States. The Company's segments include retail center properties, flex center properties and STNL properties. It owns four retail center properties: Shops at Franklin Square, Ashley Plaza Shopping Center, Lancer Center and Salisbury Marketplace Shopping Center. The Company owns three flex warehouse properties: Brookfield Center, Greenbrier Business Center and Parkway Property. It owns three single tenant net lease (STNL) properties: Citibank Property, East Coast Wings building and T-Mobile building. The Shops at Franklin Square is a 134,239 square foot retail property located in Gastonia, North Carolina. The Brookfield Center is a 64,880 square foot mixed-use industrial/office property located in Greenville, South Carolina. The Citibank Property is located in Chicago, Illinois.