Quarterly ResultMay 13, 2026, 04:18 PM
Medalist Diversified Q1 Net Income $8.97M; Basic EPS $7.01
AI Summary
Medalist Diversified reported a net income attributable to common stockholders of $8.97 million, or $7.01 per basic share, for Q1 2026, a significant improvement from a net loss of $1.01 million, or $(0.74) per basic share, in Q1 2025. This turnaround was primarily driven by a $12.85 million gain on the disposal of investment properties. The company also announced a strategic repositioning, terminating its REIT status and shifting its focus to building the DST Program to generate fee income and increase assets under management.
Key Highlights
- Net income attributable to common stockholders was $8.97 million, up from a $(1.01) million loss YoY.
- Basic earnings per share reached $7.01, compared to a $(0.74) loss per share in the prior year.
- Reported a significant gain of $12.85 million from the disposal of investment properties.
- Total revenue for the quarter was $2.16 million, a decrease from $2.32 million year-over-year.
- Terminated REIT election effective January 1, 2026, shifting focus to the DST Program.
- Completed sales of Greenbrier Business Center, Parkway, and Franklin Square Properties.
- Total assets decreased to $68.92 million from $77.74 million as of December 31, 2025.
- Total equity increased to $39.89 million from $24.11 million as of December 31, 2025.