Medalist Diversified (MDRR)
Sponsors DST real-estate offerings while managing a shrinking commercial-property portfolio.
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Earns rent from a shrinking legacy portfolio of commercial properties and sponsors DST private placements that generate acquisition, management and disposition fees. The business operates as a C-corporation and depends on accredited investors and broker-dealer/RIA distribution.
Operates a shrinking legacy portfolio of retail, flex/industrial and single-tenant commercial properties while sponsoring Delaware Statutory Trust private placements for accredited tax-deferred exchange investors. Rental income and related property revenue remain tied to the legacy assets; the DST platform earns acquisition, asset-management and disposition fees.
Acquires commercial real estate, places title in a DST, sells fractional beneficial interests through registered broker-dealers and RIAs, and manages the property afterward. Its target geography spans the Southeast, mountain states and California, while the remaining direct portfolio is concentrated in the Carolinas, Chicago and Goldsboro.
Execution rests on the shift from former REIT to C-corporation, asset sales and the buildout of the DST sponsorship platform. Investor demand depends on tax-deferred exchange treatment, accredited-investor eligibility, distribution partners and private-placement documentation; staff and property operations are supplied through a consultant and third parties.
Company facts
Categories
No analyst consensus on record.
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $27.1M · Total debt $9.4M · Total assets $57.8M · Shareholders' equity $24.0M
- Revenue
- $1.8M
- Operating income
- −$394.0K
- Net income
- −$418.7K
Last raised to $0.0675 from $0.065 in Apr 2025. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jul 23, 2026 | Jul 23 | Jul 30 | $0.0675 | |
| Apr 15, 2026 | Apr 15 | Apr 21 | $0.0675 | |
| Jan 8, 2026 | Jan 8 | Jan 13 | $0.0675 | |
| Oct 9, 2025 | Oct 9 | Oct 14 | $0.0675 | |
| Jul 11, 2025 | Jul 11 | Jul 16 | $0.0675 | |
| Apr 17, 2025 | Apr 17 | Apr 22 | $0.0675 | raised from $0.065 |
| Jan 17, 2025 | Jan 20 | Jan 23 | $0.065 | raised from $0.06 |
| Oct 16, 2024 | Oct 16 | Oct 21 | $0.06 | raised from $0.05 |
| Insiders9 holders · as of Sep 1, 2026 | 126.54% | 2.06M shares | |
| Adds to | 126.54% |
1.63M company shares as of Sep 3, 2026 · holders as of their latest filing
Two share counts disagree (1.63M in the company's Sep 3, 2026 report, 1.24M elsewhere); stakes use the report.
These groups come from separate filings that can overlap, so they add to 126.54%; nothing is left for Other.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Evidence |
|---|---|---|---|
Frank Kavanaugh1Insiderdirector, 10 percent owner, officer: CHAIRMAN, CEO & PRESIDENT | 96.41% | 1.37M | 13Dfiled Apr 17, 2026 ↗ |
Alfred Lee FinleyInsiderdirector, 10 percent owner | 14.33% | 233,318 | Form 4filed Dec 12, 2025 ↗ |
Kory J. Kramer2Insiderdirector | 8.72% | 142,078 | Form 4filed Sep 3, 2025 ↗ |
Charles Brent Jr. WinnInsiderofficer: CHIEF FINANCIAL OFFICER | 3.86% | 62,929 | Form 4filed Sep 1, 2026 ↗ |
Benjamin OreInsiderother: CONTROLLER | 0.90% | 14,600 | Form 4filed Mar 17, 2025 ↗ |
| See all 24 → | |||
- Frank Kavanaugh's transaction reports restate only vehicles that traded; the 2026 ownership statement (1.37M) plus the 200.0K net shares acquired since is used instead.
- Reported at 2.73% on Sep 3, 2025, under the 5% line, so no further filing is required.
13D/13G — an ownership statement filed at 5% or more · Form 4 — an insider's transaction report
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 31, 2026 | Charles Brent Jr. Winn | officer: CHIEF FINANCIAL OFFICER | +10 | $12.00 |
| Aug 28, 2026 | Charles Brent Jr. Winn | officer: CHIEF FINANCIAL OFFICER | +3 | $12.00 |
| Aug 27, 2026 | Charles Brent Jr. Winn | officer: CHIEF FINANCIAL OFFICER | +250 | $12.00 |
| Aug 26, 2026 | Charles Brent Jr. Winn | officer: CHIEF FINANCIAL OFFICER | +6 | $11.50 |
| Aug 20, 2026 | Charles Brent Jr. Winn | officer: CHIEF FINANCIAL OFFICER | +3 | $11.50 |
- W. P. Carey
Large triple-net platform for single-tenant commercial assets.
- Global Net Lease
Diversified net-lease portfolio spans retail and industrial assets.
- Broadstone Net Lease
Industrial-focused net-lease platform overlaps STNL and flex assets.
- Gladstone Commercial
Net-leased industrial properties overlap flex and STNL exposure.
- AH Realty Trust
Southeastern retail platform overlaps center ownership and leasing.
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Medalist Diversified | $12.00 | −1.64% | $14.9M | 3.1 | — | 1.6 | −26.6% |
| W. P. Carey | $70.58 | −0.01% | $16.08B | 24.1 | 23.6 | 8.5 | +7.0% |
| Global Net Lease | $9.17 | +0.27% | $1.94B | — | — | 4.2 | −10.0% |
| Broadstone Net Lease | $21.00 | −0.13% | $4.03B | 28.4 | 27.8 | 8.4 | +8.3% |
| Gladstone Commercial | $13.00 | −0.23% | $629.3M | 24.5 | 79.8 | 3.7 | +11.3% |
| AH Realty Trust | $6.60 | +1.85% | $620.5M | — | — | 3.6 | — |
| Median | 24.5 | 27.8 | 4.2 | +7.6% |