$MDRR
Medalist Diversified REIT, Inc.

2023 Q1 Form 10-K Financial Statement

#000155837023003472 Filed on March 10, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $2.461M $2.750M $11.09M
YoY Change -15.25% -1.22% -3.32%
Cost Of Revenue $697.4K $734.8K $3.933M
YoY Change 231.84% -23.15% -20.8%
Gross Profit $1.764M $2.016M $7.159M
YoY Change -34.53% 10.26% 10.02%
Gross Profit Margin 71.66% 73.28% 64.54%
Selling, General & Admin $911.3K $921.1K $2.616M
YoY Change 1029.1% 98.52% 299.85%
% of Gross Profit 51.67% 45.7% 36.54%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $911.5K $1.198M $3.381M
YoY Change 18.13% 4.37% 40.0%
% of Gross Profit 51.68% 59.42% 47.23%
Operating Expenses $2.802M $2.119M $11.69M
YoY Change -10.73% 31.48% 8.46%
Operating Profit -$340.7K -$103.2K -$1.414M
YoY Change 45.36% -147.63% -273.56%
Interest Expense $864.1K -$865.0K $3.555M
YoY Change 2.69% -6.5% -35.76%
% of Operating Profit
Other Income/Expense, Net $0.00 $3.910K
YoY Change -100.0% -98.92%
Pretax Income -$1.205M -$999.8K -$4.969M
YoY Change 11.99% 87.13% 5.27%
Income Tax
% Of Pretax Income
Net Earnings -$1.221M -$1.011M -$4.769M
YoY Change 23.45% 90.05% 9.28%
Net Earnings / Revenue -49.63% -36.74% -43.0%
Basic Earnings Per Share -$0.07 -$0.28
Diluted Earnings Per Share -$0.07 -$0.06 -$0.28
COMMON SHARES
Basic Shares Outstanding 17.76M 17.44M 17.12M
Diluted Shares Outstanding 17.76M 17.12M

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.048M $3.922M $3.922M
YoY Change -34.17% -10.26% -10.26%
Cash & Equivalents $3.048M $3.922M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $290.8K $402.4K $402.4K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $3.339M $4.325M $4.325M
YoY Change -32.88% -10.59% -10.59%
LONG-TERM ASSETS
Property, Plant & Equipment $76.24M $76.51M $76.51M
YoY Change 10.88% 10.24% 10.24%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.937M $1.741M $1.741M
YoY Change -85.48% -86.46% -86.46%
Total Long-Term Assets $83.20M $83.59M $83.59M
YoY Change -4.61% -4.7% -4.7%
TOTAL ASSETS
Total Short-Term Assets $3.339M $4.325M $4.325M
Total Long-Term Assets $83.20M $83.59M $83.59M
Total Assets $86.54M $87.92M $87.92M
YoY Change -6.14% -5.0% -5.0%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.547M $1.198M $1.198M
YoY Change 14.99% -8.35% -8.35%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.547M $1.198M $1.198M
YoY Change 14.99% -8.35% -8.35%
LONG-TERM LIABILITIES
Long-Term Debt $65.58M $65.79M $65.79M
YoY Change -1.02% -0.86% -0.86%
Other Long-Term Liabilities $2.134M $2.234M $2.234M
YoY Change 19.54% 18.8% 18.8%
Total Long-Term Liabilities $67.71M $68.02M $68.02M
YoY Change -0.48% -0.32% -0.32%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.547M $1.198M $1.198M
Total Long-Term Liabilities $67.71M $68.02M $68.02M
Total Liabilities $69.26M $69.22M $70.66M
YoY Change -0.18% -0.47% -0.58%
SHAREHOLDERS EQUITY
Retained Earnings -$32.34M -$30.94M
YoY Change 23.02% 23.85%
Common Stock $177.6K $177.6K
YoY Change 3.76% 10.63%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $15.85M $17.25M $17.25M
YoY Change
Total Liabilities & Shareholders Equity $86.54M $87.92M $87.92M
YoY Change -6.14% -5.0% -5.0%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income -$1.221M -$1.011M -$4.769M
YoY Change 23.45% 90.05% 9.28%
Depreciation, Depletion And Amortization $911.5K $1.198M $3.381M
YoY Change 18.13% 4.37% 40.0%
Cash From Operating Activities $450.7K -$478.9K $1.195M
YoY Change -34.95% -351.88% 43.48%
INVESTING ACTIVITIES
Capital Expenditures $647.7K $367.7K $11.30M
YoY Change -276.94% -104.68% -153.08%
Acquisitions
YoY Change
Other Investing Activities -$31.62K $1.980M
YoY Change -7.68%
Cash From Investing Activities -$647.7K -$399.3K -$9.319M
YoY Change 76.94% -94.91% -51.32%
FINANCING ACTIVITIES
Cash Dividend Paid $178.9K $1.309M
YoY Change -47.6% 13.71%
Common Stock Issuance & Retirement, Net -$1.252M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -480.5K -432.1K 6.403M
YoY Change -230.49% -112.28% -68.91%
NET CHANGE
Cash From Operating Activities 450.7K -478.9K 1.195M
Cash From Investing Activities -647.7K -399.3K -9.319M
Cash From Financing Activities -480.5K -432.1K 6.403M
Net Change In Cash -677.5K -1.310M -1.721M
YoY Change -197.47% -68.38% -175.26%
FREE CASH FLOW
Cash From Operating Activities $450.7K -$478.9K $1.195M
Capital Expenditures $647.7K $367.7K $11.30M
Free Cash Flow -$197.0K -$846.5K -$10.10M
YoY Change -118.6% -110.53% -145.68%

Facts In Submission

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PaymentsToAcquireInvestmentProperty
10279714
CY2021 mdrr Payments To Acquire Investment Property
PaymentsToAcquireInvestmentProperty
20750571
CY2022 us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
1019304
CY2021 us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
536685
CY2022 us-gaap Payments For Proceeds From Real Estate Heldforinvestment
PaymentsForProceedsFromRealEstateHeldforinvestment
-1979837
CY2021 us-gaap Payments For Proceeds From Real Estate Heldforinvestment
PaymentsForProceedsFromRealEstateHeldforinvestment
-2144529
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-9319181
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-19142727
CY2022 us-gaap Payments Of Dividends
PaymentsOfDividends
1309180
CY2021 us-gaap Payments Of Dividends
PaymentsOfDividends
1151304
CY2021 us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
504000
CY2022 us-gaap Payments Of Debt Extinguishment Costs
PaymentsOfDebtExtinguishmentCosts
84900
CY2021 mdrr Repayment Of Line Of Credit Short Term
RepaymentOfLineOfCreditShortTerm
-325000
CY2022 us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
18477304
CY2021 us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
24377886
CY2022 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
11932137
CY2021 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
14914830
CY2021 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
1305000
CY2022 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
1538887
CY2021 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
10801411
CY2022 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
286543
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
6403431
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
20597163
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-1721124
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
2287049
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
7383977
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
5096928
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
5662853
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
7383977
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
3922136
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
4370405
CY2022Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
1740717
CY2021Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
3013572
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
5662853
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
7383977
CY2022 us-gaap Interest Paid Net
InterestPaidNet
3237728
CY2021 us-gaap Interest Paid Net
InterestPaidNet
4065121
CY2022 mdrr Release Of Restricted Cash Related To Sale Of Property
ReleaseOfRestrictedCashRelatedToSaleOfProperty
1455777
CY2021 mdrr Conversion Of Convertible Debentures And Accrued Interest To Common Stock
ConversionOfConvertibleDebenturesAndAccruedInterestToCommonStock
5058788
CY2021 mdrr Transfer Of Investment Properties Net To Assets Held For Sale Net
TransferOfInvestmentPropertiesNetToAssetsHeldForSaleNet
9683555
CY2021 mdrr Transfer Of Mortgages Payable Net To Mortgages Payable Associated With Assets Held For Sale Net
TransferOfMortgagesPayableNetToMortgagesPayableAssociatedWithAssetsHeldForSaleNet
7592931
CY2021 us-gaap Noncash Or Part Noncash Acquisition Debt Assumed1
NoncashOrPartNoncashAcquisitionDebtAssumed1
4481600
CY2021 mdrr Notes Payable Forgiveness
NotesPayableForgiveness
176300
CY2022 mdrr Number Of Tenants Defaulted On Leases And Abandoned Their Premises
NumberOfTenantsDefaultedOnLeasesAndAbandonedTheirPremises
2
CY2022 us-gaap Asset Impairment Charges
AssetImpairmentCharges
36670
CY2021 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
CY2022 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
175671
CY2021 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
0
CY2022 mdrr Number Of Tenants Defaulted On Leases And Abandoned Their Premises
NumberOfTenantsDefaultedOnLeasesAndAbandonedTheirPremises
2
CY2022 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
36670
CY2021 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0
CY2022Q4 us-gaap Below Market Lease Amortization Income Year Two
BelowMarketLeaseAmortizationIncomeYearTwo
285892
CY2022Q4 us-gaap Below Market Lease Amortization Income Year Three
BelowMarketLeaseAmortizationIncomeYearThree
213348
CY2022Q4 us-gaap Below Market Lease Amortization Income Year Four
BelowMarketLeaseAmortizationIncomeYearFour
178776
CY2022Q4 us-gaap Below Market Lease Amortization Income Year Five
BelowMarketLeaseAmortizationIncomeYearFive
161866
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
3748706
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
4200392
CY2022Q4 us-gaap Below Market Lease Net
BelowMarketLeaseNet
2234113
CY2021Q4 us-gaap Below Market Lease Net
BelowMarketLeaseNet
1880612
CY2022 us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
415624
CY2021 us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
274528
CY2022 us-gaap Amortization Of Above And Below Market Leases
AmortizationOfAboveAndBelowMarketLeases
-226721
CY2021 us-gaap Amortization Of Above And Below Market Leases
AmortizationOfAboveAndBelowMarketLeases
-24024
CY2022 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1325574
CY2021 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1093565
CY2022Q4 us-gaap Deferred Costs Leasing Accumulated Amortization
DeferredCostsLeasingAccumulatedAmortization
2198049
CY2021Q4 us-gaap Deferred Costs Leasing Accumulated Amortization
DeferredCostsLeasingAccumulatedAmortization
2779370
CY2022 mdrr Amortization Of Intangible Assets Write Off
AmortizationOfIntangibleAssetsWriteOff
1901786
CY2021 mdrr Amortization Of Intangible Assets Write Off
AmortizationOfIntangibleAssetsWriteOff
667298
CY2022 mdrr Amortization Of Tenant Defaults Written Off
AmortizationOfTenantDefaultsWrittenOff
5109
CY2021 mdrr Amortization Of Tenant Defaults Written Off
AmortizationOfTenantDefaultsWrittenOff
0
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
1002617
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
659308
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
486931
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
335567
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
263996
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
1000287
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
3748706
CY2022Q4 us-gaap Below Market Lease Amortization Income Next Twelve Months
BelowMarketLeaseAmortizationIncomeNextTwelveMonths
368802
CY2022Q4 us-gaap Below Market Lease Amortization Income After Year Five
BelowMarketLeaseAmortizationIncomeAfterYearFive
1025429
CY2022Q4 us-gaap Below Market Lease Net
BelowMarketLeaseNet
2234113
CY2022Q4 us-gaap Time Deposits At Or Above Fdic Insurance Limit
TimeDepositsAtOrAboveFDICInsuranceLimit
2613789
CY2021Q4 us-gaap Time Deposits At Or Above Fdic Insurance Limit
TimeDepositsAtOrAboveFDICInsuranceLimit
2377633
CY2022Q4 mdrr Security Deposits
SecurityDeposits
267854
CY2021Q4 mdrr Security Deposits
SecurityDeposits
222265
CY2022Q4 us-gaap Escrow Deposit
EscrowDeposit
579785
CY2021Q4 us-gaap Escrow Deposit
EscrowDeposit
1523837
CY2022Q4 us-gaap Replacement Reserve Escrow
ReplacementReserveEscrow
893078
CY2021Q4 us-gaap Replacement Reserve Escrow
ReplacementReserveEscrow
1267470
CY2022Q4 us-gaap Replacement Reserve Escrow
ReplacementReserveEscrow
893078
CY2021Q4 us-gaap Replacement Reserve Escrow
ReplacementReserveEscrow
1267470
CY2022Q4 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
1022153
CY2021Q4 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
872322
CY2022 mdrr Revenue Recognized From Reimbursement Of Common Area Maintenance Expenses
RevenueRecognizedFromReimbursementOfCommonAreaMaintenanceExpenses
311116
CY2021 mdrr Revenue Recognized From Reimbursement Of Common Area Maintenance Expenses
RevenueRecognizedFromReimbursementOfCommonAreaMaintenanceExpenses
113493
CY2022 mdrr Lease Termination Fee Income
LeaseTerminationFeeIncome
0
CY2021 mdrr Lease Termination Fee Income
LeaseTerminationFeeIncome
200000
CY2021 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
47109
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
13010
CY2022 mdrr Percentage Of Income Required To Be Distributed To Shareholders
PercentageOfIncomeRequiredToBeDistributedToShareholders
0.90
CY2022 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Use of Estimates</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">The Company has made estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and revenues and expenses during the reported period. The Company’s actual results could differ from these estimates.</p>
CY2017 mdrr Noncontrolling Operating Partnership Units
NoncontrollingOperatingPartnershipUnits
125000
CY2017 mdrr Noncontrolling Operating Partnership Units
NoncontrollingOperatingPartnershipUnits
125000
CY2020Q1 mdrr Minority Interest Ownership Percentage By Noncontrolling Owners Exchanged Number Of Operating Partnership Units Issued
MinorityInterestOwnershipPercentageByNoncontrollingOwnersExchangedNumberOfOperatingPartnershipUnitsIssued
93850
CY2020Q1 mdrr Minority Interest Ownership Percentage By Noncontrolling Owners Exchanged For Operating Partnership Units Issued
MinorityInterestOwnershipPercentageByNoncontrollingOwnersExchangedForOperatingPartnershipUnitsIssued
0.0345
CY2020Q3 mdrr Non Controlling Partnership Operating Units Converted To Common Stock
NonControllingPartnershipOperatingUnitsConvertedToCommonStock
5319
CY2022Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2022Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
85915860
CY2021Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
75896135
CY2022Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
9400908
CY2021Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
6488220
CY2022Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
76514952
CY2021Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
69407915
CY2022 mdrr Capitalized Tenant Improvements
CapitalizedTenantImprovements
177373
CY2021 mdrr Capitalized Tenant Improvements
CapitalizedTenantImprovements
143079
CY2022Q4 mdrr Capitalized Leasing Commissions Net
CapitalizedLeasingCommissionsNet
555956
CY2021Q4 mdrr Capitalized Leasing Commissions Net
CapitalizedLeasingCommissionsNet
356327
CY2022 mdrr Capitalized Leasing Commissions
CapitalizedLeasingCommissions
300331
CY2021 mdrr Capitalized Leasing Commissions
CapitalizedLeasingCommissions
73458
CY2022 mdrr Amortization Of Capitalized Leasing Commissions
AmortizationOfCapitalizedLeasingCommissions
100702
CY2021 mdrr Amortization Of Capitalized Leasing Commissions
AmortizationOfCapitalizedLeasingCommissions
65414
CY2021Q4 us-gaap Assets Of Disposal Group Including Discontinued Operation
AssetsOfDisposalGroupIncludingDiscontinuedOperation
9846208
CY2021Q4 us-gaap Secured Debt
SecuredDebt
7615368
CY2020Q2 us-gaap Preferred Stock Dividends Per Share Cash Paid
PreferredStockDividendsPerShareCashPaid
0.37
CY2020Q3 us-gaap Preferred Stock Dividends Per Share Cash Paid
PreferredStockDividendsPerShareCashPaid
0.50
CY2020Q4 us-gaap Preferred Stock Dividends Per Share Cash Paid
PreferredStockDividendsPerShareCashPaid
0.50
CY2021Q1 us-gaap Preferred Stock Dividends Per Share Cash Paid
PreferredStockDividendsPerShareCashPaid
0.50
CY2021Q2 us-gaap Preferred Stock Dividends Per Share Cash Paid
PreferredStockDividendsPerShareCashPaid
0.50
CY2021Q3 us-gaap Preferred Stock Dividends Per Share Cash Paid
PreferredStockDividendsPerShareCashPaid
0.50
CY2021Q4 us-gaap Preferred Stock Dividends Per Share Cash Paid
PreferredStockDividendsPerShareCashPaid
0.50
CY2022Q1 us-gaap Preferred Stock Dividends Per Share Cash Paid
PreferredStockDividendsPerShareCashPaid
0.50
CY2022Q2 us-gaap Preferred Stock Dividends Per Share Cash Paid
PreferredStockDividendsPerShareCashPaid
0.50
CY2022Q3 us-gaap Preferred Stock Dividends Per Share Cash Paid
PreferredStockDividendsPerShareCashPaid
0.50
CY2022Q4 us-gaap Preferred Stock Dividends Per Share Cash Paid
PreferredStockDividendsPerShareCashPaid
0.50
CY2023Q1 us-gaap Preferred Stock Dividends Per Share Cash Paid
PreferredStockDividendsPerShareCashPaid
0.50
CY2022Q2 mdrr Debt Service Coverage Ratio
DebtServiceCoverageRatio
not less than 1.50 to 1.00
CY2021Q1 mdrr Number Of Conversations
NumberOfConversations
17
CY2021Q2 mdrr Number Of Conversations
NumberOfConversations
17
CY2022 us-gaap Interest Expense Debt
InterestExpenseDebt
2830159
CY2022 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
330476
CY2022 mdrr Interest Rate Protection Transaction Payments
InterestRateProtectionTransactionPayments
-7682
CY2022 us-gaap Interest Expense Other
InterestExpenseOther
402135
CY2022 us-gaap Interest Expense
InterestExpense
3555088
CY2021 us-gaap Interest Expense Debt
InterestExpenseDebt
3043370
CY2021 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
2026050
CY2021 mdrr Interest Rate Protection Transaction Payments
InterestRateProtectionTransactionPayments
464835
CY2021 us-gaap Interest Expense Other
InterestExpenseOther
5534255
CY2022Q4 us-gaap Interest Payable Current
InterestPayableCurrent
214042
CY2022Q4 us-gaap Accumulated Amortization Deferred Finance Costs
AccumulatedAmortizationDeferredFinanceCosts
801565
CY2021Q4 us-gaap Interest Payable Current
InterestPayableCurrent
219476
CY2021Q4 us-gaap Accumulated Amortization Deferred Finance Costs
AccumulatedAmortizationDeferredFinanceCosts
637688
CY2022Q4 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
7682310
CY2022Q4 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
6369691
CY2022Q4 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
5483337
CY2022Q4 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
3798457
CY2022Q4 us-gaap Lessor Operating Lease Payments To Be Received Five Years
LessorOperatingLeasePaymentsToBeReceivedFiveYears
2822424
CY2022Q4 us-gaap Lessor Operating Lease Payments To Be Received Thereafter
LessorOperatingLeasePaymentsToBeReceivedThereafter
7577626
CY2022Q4 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
33733845
CY2022Q4 mdrr Shares Authorized
SharesAuthorized
1000000000
CY2022Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
750000000
CY2022Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2022Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
250000000
CY2022Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2021Q2 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
8000000
CY2021Q2 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
1.50
CY2021Q2 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
10886337
CY2022Q4 mdrr Common Stock Aggregate Value Authorized
CommonStockAggregateValueAuthorized
150000000
CY2021Q4 mdrr Legal Costs And Filing Fees Incurred
LegalCostsAndFilingFeesIncurred
84926
CY2022Q4 mdrr Legal Costs And Filing Fees Incurred
LegalCostsAndFilingFeesIncurred
84926
CY2021Q4 mdrr Threshold Period To Issue Shares
ThresholdPeriodToIssueShares
P36M
CY2022 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
1538887
CY2022 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
1445400
CY2022Q4 mdrr Sales Price Per Share Average
SalesPricePerShareAverage
1.065
CY2022 us-gaap Real Estate Other Acquisitions
RealEstateOtherAcquisitions
9963258
CY2022 mdrr Real Estate Capitalized Leasing Commissions
RealEstateCapitalizedLeasingCommissions
300331
CY2022 mdrr Real Estate Capitalized Tenant Improvements
RealEstateCapitalizedTenantImprovements
177373
CY2022Q1 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
90600
CY2022Q1 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
1.088
CY2022Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
98574
CY2022Q1 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
276190
CY2022Q1 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
1.050
CY2022Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
290000
CY2022Q1 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
278810
CY2022Q1 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
1.076
CY2022Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
300000
CY2022Q1 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
474068
CY2022Q1 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
1.055
CY2022Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
500000
CY2022Q2 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
325732
CY2022Q2 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
1.075
CY2022Q2 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
350313
CY2022Q2 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
1445400
CY2022Q2 mdrr Sales Price Per Share Average
SalesPricePerShareAverage
1.065
CY2022Q2 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
1538887
CY2021Q4 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
500000
CY2021Q4 mdrr Stock Repurchase Program Maximum Price Per Share
StockRepurchaseProgramMaximumPricePerShare
4.80
CY2021Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
86464643
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17122617
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
13092937
CY2022 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
213531
CY2021 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
213531
CY2022 mdrr Weighted Average Number Of Diluted Shares Outstanding Effect Of Conversion
WeightedAverageNumberOfDilutedSharesOutstandingEffectOfConversion
17336148
CY2021 mdrr Weighted Average Number Of Diluted Shares Outstanding Effect Of Conversion
WeightedAverageNumberOfDilutedSharesOutstandingEffectOfConversion
13306468
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-4769241
CY2021 us-gaap Net Income Loss
NetIncomeLoss
-4364264
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17122617
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
17122617
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
13092937
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
13092937
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.28
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.28
CY2021 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.33
CY2021 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.33
CY2022Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.02
CY2022Q2 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.02
CY2022Q3 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.02
CY2022Q4 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.01
CY2021Q4 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.02
CY2022 us-gaap Dividends Common Stock
DividendsCommonStock
1188433
CY2021 us-gaap Dividends Common Stock
DividendsCommonStock
642105
CY2022 us-gaap Dividends
Dividends
1309180
CY2021 us-gaap Dividends
Dividends
1151304
CY2022 us-gaap Concentration Risk Percentage1
ConcentrationRiskPercentage1
1
CY2022 us-gaap Real Estate Improvements
RealEstateImprovements
287712
CY2022 mdrr Real Estate Furniture Fixtures And Equipment
RealEstateFurnitureFixturesAndEquipment
253887
CY2022 mdrr Real Estate Companies Investment In Real Estate Impairment Loss
RealEstateCompaniesInvestmentInRealEstateImpairmentLoss
13880
CY2022 us-gaap Sec Schedule Iii Real Estate Writedown Or Reserve Amount
SECScheduleIIIRealEstateWritedownOrReserveAmount
175671
CY2022 mdrr Real Estate Fully Amortized Tenant Improvements
RealEstateFullyAmortizedTenantImprovements
468561
CY2022 us-gaap Real Estate Cost Of Real Estate Sold
RealEstateCostOfRealEstateSold
10873232
CY2022Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
85915860
CY2021Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
7210520
CY2022 us-gaap Real Estate Accumulated Depreciation Other Additions
RealEstateAccumulatedDepreciationOtherAdditions
3381249
CY2022 us-gaap Real Estate Accumulated Depreciation Other Deductions
RealEstateAccumulatedDepreciationOtherDeductions
1190861
CY2022Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
9400908
CY2022Q4 us-gaap Sec Schedule Iii Real Estate Investment Property Net
SECScheduleIIIRealEstateInvestmentPropertyNet
76514953
CY2020Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
75967825
CY2021 us-gaap Real Estate Other Acquisitions
RealEstateOtherAcquisitions
24053215
CY2021 mdrr Real Estate Capitalized Leasing Commissions
RealEstateCapitalizedLeasingCommissions
73458
CY2021 mdrr Real Estate Capitalized Tenant Improvements
RealEstateCapitalizedTenantImprovements
143079
CY2021 us-gaap Real Estate Improvements
RealEstateImprovements
308803
CY2021 mdrr Real Estate Fully Amortized Tenant Improvements
RealEstateFullyAmortizedTenantImprovements
142645
CY2021 mdrr Real Estate Furniture Fixtures And Equipment
RealEstateFurnitureFixturesAndEquipment
32999
CY2021 us-gaap Real Estate Cost Of Real Estate Sold
RealEstateCostOfRealEstateSold
13972091
CY2021Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
86464643
CY2020Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
6501713
CY2021 us-gaap Real Estate Accumulated Depreciation Other Additions
RealEstateAccumulatedDepreciationOtherAdditions
2270648
CY2021 us-gaap Real Estate Accumulated Depreciation Other Deductions
RealEstateAccumulatedDepreciationOtherDeductions
1561841
CY2021Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
7210520
CY2021Q4 us-gaap Sec Schedule Iii Real Estate Investment Property Net
SECScheduleIIIRealEstateInvestmentPropertyNet
79254123

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mdrr-20221231_cal.xml Edgar Link unprocessable
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Financial_Report.xlsx Edgar Link pending
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