EF Hutton Thinks Medalist Diversified REIT’s Stock is Going to Recover

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EF Hutton analyst EF Hutton initiated coverage with a Buy rating on Medalist Diversified REIT (MDRRResearch Report) yesterday and set a price target of $1.50. The company’s shares closed last Wednesday at $1.05, close to its 52-week low of $0.96.

Currently, the analyst consensus on Medalist Diversified REIT is a Moderate Buy with an average price target of $1.50.

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Based on Medalist Diversified REIT’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $3.04 million and GAAP net loss of $872K. In comparison, last year the company earned revenue of $2.36 million and had a GAAP net loss of $1.29 million.

Based on the recent corporate insider activity of 15 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of MDRR in relation to earlier this year.

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Medalist Diversified REIT, Inc. engages in acquiring, repositioning, renovating, leasing and managing income-producing real estate. It focuses on commercial properties, flex-industrial, retail properties, multi-family residential properties, and hospitality. The company was founded on September 28, 2015 and is headquartered in Baltimore, MA.

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