$MDRR
Medalist Diversified REIT, Inc.

2023 Q4 Form 10-Q Financial Statement

#000155837023018846 Filed on November 13, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $2.707M $2.589M
YoY Change -1.57% -8.88%
Cost Of Revenue $552.7K $650.0K
YoY Change -24.79% -48.86%
Gross Profit $2.155M $1.940M
YoY Change 6.89% 23.56%
Gross Profit Margin 79.58% 74.94%
Selling, General & Admin $295.6K $410.0K
YoY Change -67.91% 6.83%
% of Gross Profit 13.72% 21.13%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.115M $1.150M
YoY Change -6.91% -6.62%
% of Gross Profit 51.75% 59.28%
Operating Expenses $1.410M $3.655M
YoY Change -33.43% 17.41%
Operating Profit $744.1K -$1.067M
YoY Change -821.13% 21.04%
Interest Expense -$1.027M $900.2K
YoY Change 18.71% -9.0%
% of Operating Profit -138.0%
Other Income/Expense, Net
YoY Change
Pretax Income -$531.3K -$1.967M
YoY Change -46.86% 5.15%
Income Tax
% Of Pretax Income
Net Earnings -$523.5K -$1.949M
YoY Change -48.2% 11.08%
Net Earnings / Revenue -19.34% -75.28%
Basic Earnings Per Share -$0.88
Diluted Earnings Per Share -$0.24 -$0.88
COMMON SHARES
Basic Shares Outstanding 2.219M 2.219M
Diluted Shares Outstanding 2.219M

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.235M $3.020M
YoY Change -43.03% -37.91%
Cash & Equivalents $2.235M $3.016M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $292.6K $90.00K
Other Receivables $0.00 $0.00
Total Short-Term Assets $2.527M $3.110M
YoY Change -41.56% -39.09%
LONG-TERM ASSETS
Property, Plant & Equipment $64.58M $74.88M
YoY Change -15.6% -3.16%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $11.28M $1.730M
YoY Change 548.13% -17.98%
Total Long-Term Assets $80.22M $81.31M
YoY Change -4.03% -4.34%
TOTAL ASSETS
Total Short-Term Assets $2.527M $3.110M
Total Long-Term Assets $80.22M $81.31M
Total Assets $82.75M $84.42M
YoY Change -5.88% -6.31%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.095M $1.960M
YoY Change -8.6% -10.29%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $1.000M $1.000M
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.095M $2.960M
YoY Change 74.87% 35.48%
LONG-TERM LIABILITIES
Long-Term Debt $65.06M $65.25M
YoY Change -1.12% -1.06%
Other Long-Term Liabilities $1.865M $1.950M
YoY Change -16.51% -16.82%
Total Long-Term Liabilities $66.92M $67.20M
YoY Change -1.62% -1.6%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.095M $2.960M
Total Long-Term Liabilities $66.92M $67.20M
Total Liabilities $69.02M $70.15M
YoY Change -0.3% -0.46%
SHAREHOLDERS EQUITY
Retained Earnings -$35.86M -$35.34M
YoY Change 15.92% 18.78%
Common Stock $22.19K $22.19K
YoY Change -87.51% -87.28%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $12.32M $12.84M
YoY Change
Total Liabilities & Shareholders Equity $82.75M $84.42M
YoY Change -5.88% -6.31%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income -$523.5K -$1.949M
YoY Change -48.2% 11.08%
Depreciation, Depletion And Amortization $1.115M $1.150M
YoY Change -6.91% -6.62%
Cash From Operating Activities -$311.6K -$440.0K
YoY Change -34.93% -541.28%
INVESTING ACTIVITIES
Capital Expenditures $338.8K $400.0K
YoY Change -7.86% -351.65%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change -100.0%
Cash From Investing Activities -$338.8K -$400.0K
YoY Change -15.15% -121.59%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -290.2K 800.0K
YoY Change -32.84% -205.67%
NET CHANGE
Cash From Operating Activities -311.6K -440.0K
Cash From Investing Activities -338.8K -400.0K
Cash From Financing Activities -290.2K 800.0K
Net Change In Cash -940.6K -40.00K
YoY Change -28.21% -103.35%
FREE CASH FLOW
Cash From Operating Activities -$311.6K -$440.0K
Capital Expenditures $338.8K $400.0K
Free Cash Flow -$650.4K -$840.0K
YoY Change -23.17% -424.75%

Facts In Submission

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CY2022Q3 us-gaap Dividends
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CY2022Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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us-gaap Depreciation
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mdrr Amortization
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mdrr Amortization
Amortization
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mdrr Amortization Of Loan Costs
AmortizationOfLoanCosts
80967
mdrr Amortization Of Loan Costs
AmortizationOfLoanCosts
80607
mdrr Amortization Of Deferred Financing Costs On Mandatorily Redeemable Preferred Stock
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mdrr Amortization Of Deferred Financing Costs On Mandatorily Redeemable Preferred Stock
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us-gaap Amortization Of Above And Below Market Leases
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us-gaap Provision For Doubtful Accounts
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us-gaap Gain Loss On Sales Of Assets And Asset Impairment Charges
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us-gaap Increase Decrease In Accounts And Other Receivables
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us-gaap Increase Decrease In Contract With Customer Liability
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us-gaap Increase Decrease In Contract With Customer Liability
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us-gaap Increase Decrease In Other Operating Assets
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us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Net Cash Provided By Used In Operating Activities
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mdrr Payments To Acquire Investment Property
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us-gaap Payments For Capital Improvements
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us-gaap Payments For Capital Improvements
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us-gaap Payments For Proceeds From Real Estate Heldforinvestment
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Repayments Of Secured Debt
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us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
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mdrr Payments To Retire Fractional Shares Reverse Stock Split
PaymentsToRetireFractionalSharesReverseStockSplit
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2023Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2022Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
4863963
CY2023Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
1734297
CY2022Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
2109121
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
4750156
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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us-gaap Interest Paid Net
InterestPaidNet
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us-gaap Interest Paid Net
InterestPaidNet
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mdrr Release Of Restricted Cash Related To Sale Of Property
ReleaseOfRestrictedCashRelatedToSaleOfProperty
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us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
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us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
175671
CY2022Q3 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
0
us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
0
CY2023Q3 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
0
us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
41424
CY2023Q3 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0
us-gaap Impairment Of Leasehold
ImpairmentOfLeasehold
9435000
us-gaap Impairment Of Leasehold
ImpairmentOfLeasehold
0
CY2022Q3 us-gaap Impairment Of Leasehold
ImpairmentOfLeasehold
0
CY2023Q3 us-gaap Impairment Of Leasehold
ImpairmentOfLeasehold
0
mdrr Number Of Tenants Defaulted On Leases And Abandoned Their Premises
NumberOfTenantsDefaultedOnLeasesAndAbandonedTheirPremises
2
us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
36670
CY2022Q3 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0
CY2023Q3 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0
CY2023Q3 mdrr Amortization Of Intangible Assets Write Off
AmortizationOfIntangibleAssetsWriteOff
146306
mdrr Amortization Of Intangible Assets Write Off
AmortizationOfIntangibleAssetsWriteOff
513162
CY2023Q3 mdrr Amortization Of Tenant Defaults Written Off
AmortizationOfTenantDefaultsWrittenOff
0
mdrr Amortization Of Tenant Defaults Written Off
AmortizationOfTenantDefaultsWrittenOff
21407
CY2023Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
2956080
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
3748706
CY2023Q3 us-gaap Below Market Lease Net
BelowMarketLeaseNet
1946772
CY2022Q4 us-gaap Below Market Lease Net
BelowMarketLeaseNet
2234113
CY2023Q3 us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
88586
CY2022Q3 us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
115679
us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
287341
us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
305456
CY2023Q3 us-gaap Amortization Of Above And Below Market Leases
AmortizationOfAboveAndBelowMarketLeases
-64869
CY2022Q3 us-gaap Amortization Of Above And Below Market Leases
AmortizationOfAboveAndBelowMarketLeases
-81817
us-gaap Amortization Of Above And Below Market Leases
AmortizationOfAboveAndBelowMarketLeases
-211904
us-gaap Amortization Of Above And Below Market Leases
AmortizationOfAboveAndBelowMarketLeases
-146068
CY2023Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
216287
CY2022Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
324292
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
690293
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1037800
CY2023Q3 us-gaap Deferred Costs Leasing Accumulated Amortization
DeferredCostsLeasingAccumulatedAmortization
2353773
CY2022Q4 us-gaap Deferred Costs Leasing Accumulated Amortization
DeferredCostsLeasingAccumulatedAmortization
2198049
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
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221074
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
648233
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
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CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
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335567
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
263996
CY2023Q3 mdrr Finite Lived Intangible Assets Amortization Expense After Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFour
1000279
CY2023Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
2956080
CY2023Q3 us-gaap Below Market Lease Amortization Income Remainder Of Fiscal Year
BelowMarketLeaseAmortizationIncomeRemainderOfFiscalYear
81461
CY2023Q3 us-gaap Below Market Lease Amortization Income Next Twelve Months
BelowMarketLeaseAmortizationIncomeNextTwelveMonths
285892
CY2023Q3 us-gaap Below Market Lease Amortization Income Year Two
BelowMarketLeaseAmortizationIncomeYearTwo
213348
CY2023Q3 us-gaap Below Market Lease Amortization Income Year Three
BelowMarketLeaseAmortizationIncomeYearThree
178776
CY2023Q3 us-gaap Below Market Lease Amortization Income Year Four
BelowMarketLeaseAmortizationIncomeYearFour
161866
CY2023Q3 mdrr Below Market Lease Amortization Income After Year Four
BelowMarketLeaseAmortizationIncomeAfterYearFour
1025429
CY2023Q3 us-gaap Below Market Lease Net
BelowMarketLeaseNet
1946772
CY2023Q3 us-gaap Time Deposits At Or Above Fdic Insurance Limit
TimeDepositsAtOrAboveFDICInsuranceLimit
1776409
CY2022Q4 us-gaap Time Deposits At Or Above Fdic Insurance Limit
TimeDepositsAtOrAboveFDICInsuranceLimit
2613789
CY2023Q3 mdrr Security Deposits
SecurityDeposits
272728
CY2022Q4 mdrr Security Deposits
SecurityDeposits
267854
CY2023Q3 us-gaap Escrow Deposit
EscrowDeposit
969723
CY2022Q4 us-gaap Escrow Deposit
EscrowDeposit
579785
CY2023Q3 us-gaap Replacement Reserve Escrow
ReplacementReserveEscrow
491846
CY2022Q4 us-gaap Replacement Reserve Escrow
ReplacementReserveEscrow
893078
CY2023Q3 us-gaap Replacement Reserve Escrow
ReplacementReserveEscrow
491846
CY2022Q4 us-gaap Replacement Reserve Escrow
ReplacementReserveEscrow
893078
CY2022Q3 mdrr Management Restructuring Expenses
ManagementRestructuringExpenses
0
CY2022Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2022Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2023Q3 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
1097570
CY2022Q4 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
1022153
CY2023Q3 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
0
us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
9435
us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
0
CY2022Q3 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
0
mdrr Revenue Recognized From Reimbursement Of Common Area Maintenance Expenses
RevenueRecognizedFromReimbursementOfCommonAreaMaintenanceExpenses
0
CY2022Q3 mdrr Revenue Recognized From Reimbursement Of Common Area Maintenance Expenses
RevenueRecognizedFromReimbursementOfCommonAreaMaintenanceExpenses
0
mdrr Revenue Recognized From Reimbursement Of Common Area Maintenance Expenses
RevenueRecognizedFromReimbursementOfCommonAreaMaintenanceExpenses
0
CY2023Q3 mdrr Revenue Recognized From Reimbursement Of Common Area Maintenance Expenses
RevenueRecognizedFromReimbursementOfCommonAreaMaintenanceExpenses
0
mdrr Lease Termination Fee Income
LeaseTerminationFeeIncome
0
CY2022Q3 mdrr Lease Termination Fee Income
LeaseTerminationFeeIncome
0
mdrr Lease Termination Fee Income
LeaseTerminationFeeIncome
0
CY2023Q3 mdrr Lease Termination Fee Income
LeaseTerminationFeeIncome
0
CY2023Q3 mdrr Management Restructuring Expenses
ManagementRestructuringExpenses
1452904
mdrr Management Restructuring Expenses
ManagementRestructuringExpenses
1846329
mdrr Management Restructuring Expenses
ManagementRestructuringExpenses
0
CY2023Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
0
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
47109
mdrr Percentage Of Income Required To Be Distributed To Shareholders
PercentageOfIncomeRequiredToBeDistributedToShareholders
0.90
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 condensed 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
15625
CY2017 mdrr Noncontrolling Operating Partnership Units
NoncontrollingOperatingPartnershipUnits
15625
CY2020Q1 mdrr Minority Interest Ownership Percentage By Noncontrolling Owners Exchanged Number Of Operating Partnership Units Issued
MinorityInterestOwnershipPercentageByNoncontrollingOwnersExchangedNumberOfOperatingPartnershipUnitsIssued
11731
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
665
CY2023Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-style:italic;font-weight:bold;">Reclassifications</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-style:italic;font-weight:bold;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;">All per share amounts, Common Shares outstanding, Operating Partnership Units outstanding, and stock-based compensation amounts for all periods presented reflect our <span style="-sec-ix-hidden:Hidden__ckfW7LI-USsU7B5VFrANA;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">one-for-eight</span></span> reverse stock split (the “Reverse Stock Split”), which was effective May 3, 2023. (See Completion of 1-for-8 Reverse Stock Split under Note 7, below.)</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;">During the three and six months ended June 30, 2023, the Company recorded $151,975 and $393,425, respectively, in expenses related to its management restructuring as legal, accounting and other professional fees on its condensed consolidated statement of operations.  These costs were reclassified to management restructuring expenses on the Company’s condensed consolidated statement of operations for the three and nine months ended September 30, 2023.   (See Management Restructuring Expenses, above.)</p>
CY2023Q2 mdrr Legal Accounting Other Professional Fees Reclassified To Managment Restructuring Expenses
LegalAccountingOtherProfessionalFeesReclassifiedToManagmentRestructuringExpenses
151975
mdrr Legal Accounting Other Professional Fees Reclassified To Managment Restructuring Expenses
LegalAccountingOtherProfessionalFeesReclassifiedToManagmentRestructuringExpenses
393425
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2179993
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2219262
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2121540
CY2023Q3 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
86806929
CY2022Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
85915860
CY2023Q3 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
11931120
CY2022Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
9400908
CY2023Q3 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
74875809
CY2022Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
76514952
mdrr Write Off Of Capitalized Tenant Improvements
WriteOffOfCapitalizedTenantImprovements
8656
mdrr Write Off Of Capitalized Tenant Improvements
WriteOffOfCapitalizedTenantImprovements
0
CY2022Q3 mdrr Write Off Of Capitalized Tenant Improvements
WriteOffOfCapitalizedTenantImprovements
0
CY2023Q3 mdrr Capitalized Tenant Improvements
CapitalizedTenantImprovements
131667
mdrr Capitalized Tenant Improvements
CapitalizedTenantImprovements
621306
CY2022Q3 mdrr Capitalized Tenant Improvements
CapitalizedTenantImprovements
97858
mdrr Capitalized Tenant Improvements
CapitalizedTenantImprovements
159941
CY2023Q3 mdrr Capitalized Leasing Commissions Net
CapitalizedLeasingCommissionsNet
759076
CY2022Q4 mdrr Capitalized Leasing Commissions Net
CapitalizedLeasingCommissionsNet
555956
CY2023Q3 mdrr Capitalized Leasing Commissions
CapitalizedLeasingCommissions
173080
mdrr Capitalized Leasing Commissions
CapitalizedLeasingCommissions
317155
CY2022Q3 mdrr Capitalized Leasing Commissions
CapitalizedLeasingCommissions
24195
mdrr Capitalized Leasing Commissions
CapitalizedLeasingCommissions
223958
CY2023Q3 mdrr Amortization Of Capitalized Leasing Commissions
AmortizationOfCapitalizedLeasingCommissions
40736
mdrr Amortization Of Capitalized Leasing Commissions
AmortizationOfCapitalizedLeasingCommissions
108162
CY2022Q3 mdrr Amortization Of Capitalized Leasing Commissions
AmortizationOfCapitalizedLeasingCommissions
26942
mdrr Amortization Of Capitalized Leasing Commissions
AmortizationOfCapitalizedLeasingCommissions
71379
mdrr Capitalized Leasing Commissions Write Off
CapitalizedLeasingCommissionsWriteOff
5873
CY2023Q3 mdrr Capitalized Leasing Commissions Write Off
CapitalizedLeasingCommissionsWriteOff
5873
mdrr Capitalized Leasing Commissions Write Off
CapitalizedLeasingCommissionsWriteOff
0
CY2022Q3 mdrr Capitalized Leasing Commissions Write Off
CapitalizedLeasingCommissionsWriteOff
0
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
CY2023Q2 us-gaap Preferred Stock Dividends Per Share Cash Paid
PreferredStockDividendsPerShareCashPaid
0.50
CY2023Q3 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
644625
CY2022Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
725592
CY2023Q3 us-gaap Interest Expense Debt
InterestExpenseDebt
727102
CY2023Q3 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
88397
CY2023Q3 mdrr Interest Rate Protection Transaction Payments
InterestRateProtectionTransactionPayments
29953
CY2023Q3 us-gaap Interest Expense Other
InterestExpenseOther
114636
CY2023Q3 us-gaap Interest Expense
InterestExpense
900182
CY2022Q3 us-gaap Interest Expense Debt
InterestExpenseDebt
804872
CY2022Q3 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
83301
CY2022Q3 us-gaap Interest Expense Other
InterestExpenseOther
101082
CY2022Q3 us-gaap Interest Expense
InterestExpense
989255
us-gaap Interest Expense Debt
InterestExpenseDebt
2111686
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
261270
mdrr Interest Rate Protection Transaction Payments
InterestRateProtectionTransactionPayments
74950
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us-gaap Interest Expense
InterestExpense
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us-gaap Interest Expense Debt
InterestExpenseDebt
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us-gaap Amortization Of Financing Costs
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us-gaap Interest Expense Other
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us-gaap Interest Expense
InterestExpense
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InterestPayableCurrent
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AccumulatedAmortizationDeferredFinanceCosts
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CY2022Q4 us-gaap Interest Payable Current
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CY2022Q4 us-gaap Accumulated Amortization Deferred Finance Costs
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CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
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CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received Two Years
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CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received Three Years
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CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
3683619
CY2023Q3 mdrr Lessor Operating Lease Payment To Be Received After Year Four
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10087545
CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received
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PreferredStockParOrStatedValuePerShare
0.01
CY2023Q2 mdrr Nasdaq Common Stock Minimum Share Bid Price Requirement
NasdaqCommonStockMinimumShareBidPriceRequirement
1.00
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CY2023Q2 us-gaap Common Stock Shares Outstanding
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CY2023Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
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CY2023Q2 mdrr Common Stock Reverse Stock Split Fractional Shares Issued
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0
CY2023Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
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CY2023Q2 mdrr Nasdaq Common Stock Minimum Share Bid Price Requirement
NasdaqCommonStockMinimumShareBidPriceRequirement
1.00
CY2023Q2 mdrr Minimum Bid Price Requirement Minimum Number Of Consecutive Business Days
MinimumBidPriceRequirementMinimumNumberOfConsecutiveBusinessDays
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CY2023Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
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CY2023Q2 us-gaap Common Stock Par Or Stated Value Per Share
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150000000
CY2023Q3 mdrr Legal Costs And Filing Fees Incurred
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CY2022Q4 mdrr Legal Costs And Filing Fees Incurred
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us-gaap Proceeds From Issuance Of Common Stock
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us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
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CY2023Q3 mdrr Sales Price Per Share Average
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8.52
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EarningsPerShareBasic
-0.88
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EarningsPerShareBasic
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CY2022Q1 us-gaap Stock Issued During Period Shares New Issues
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CY2022Q1 us-gaap Shares Issued Price Per Share
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ProceedsFromIssuanceOfCommonStock
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CY2022Q1 us-gaap Stock Issued During Period Shares New Issues
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CY2022Q1 us-gaap Shares Issued Price Per Share
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CY2022Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
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CY2022Q1 us-gaap Stock Issued During Period Shares New Issues
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CY2022Q1 us-gaap Shares Issued Price Per Share
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CY2022Q2 us-gaap Shares Issued Price Per Share
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CY2022Q2 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
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us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
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CY2023Q3 mdrr Sales Price Per Share Average
SalesPricePerShareAverage
8.52
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
1538887
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2219262
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2121540
CY2023Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
26691
CY2022Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
26691
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
26691
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
26691
CY2023Q3 mdrr Weighted Average Number Of Diluted Shares Outstanding Effect Of Conversion
WeightedAverageNumberOfDilutedSharesOutstandingEffectOfConversion
2245501
CY2022Q3 mdrr Weighted Average Number Of Diluted Shares Outstanding Effect Of Conversion
WeightedAverageNumberOfDilutedSharesOutstandingEffectOfConversion
2206684
mdrr Weighted Average Number Of Diluted Shares Outstanding Effect Of Conversion
WeightedAverageNumberOfDilutedSharesOutstandingEffectOfConversion
2245953
mdrr Weighted Average Number Of Diluted Shares Outstanding Effect Of Conversion
WeightedAverageNumberOfDilutedSharesOutstandingEffectOfConversion
2148231
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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EarningsPerShareBasic
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CY2023Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
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CY2022Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.16
CY2022Q2 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
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CY2022Q3 us-gaap Dividends Common Stock
DividendsCommonStock
348799
us-gaap Dividends Common Stock
DividendsCommonStock
354394
us-gaap Dividends Common Stock
DividendsCommonStock
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CY2022Q3 us-gaap Dividends
Dividends
386870
us-gaap Dividends
Dividends
374665
us-gaap Dividends
Dividends
1116660
us-gaap Concentration Risk Percentage1
ConcentrationRiskPercentage1
1
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3
CY2022Q3 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3

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