$MDRR
Medalist Diversified REIT, Inc.

2024 Q1 Form 10-K Financial Statement

#000155837024002614 Filed on March 06, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $2.572M $2.707M $10.27M
YoY Change 4.5% -1.57% -7.38%
Cost Of Revenue $580.6K $552.7K $2.601M
YoY Change -16.74% -24.79% -33.88%
Gross Profit $1.991M $2.155M $7.672M
YoY Change 12.89% 6.89% 7.18%
Gross Profit Margin 77.42% 79.58% 74.69%
Selling, General & Admin $981.4K $295.6K $1.939M
YoY Change 7.7% -67.91% -25.88%
% of Gross Profit 49.29% 13.72% 25.27%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $840.5K $1.115M $3.684M
YoY Change -7.79% -6.91% 8.95%
% of Gross Profit 42.21% 51.75% 48.01%
Operating Expenses $2.575M $1.410M $11.27M
YoY Change -8.11% -33.43% -3.63%
Operating Profit $2.765M $744.1K -$997.2K
YoY Change -911.46% -821.13% -29.46%
Interest Expense $876.7K -$1.027M $3.541M
YoY Change 1.47% 18.71% -0.4%
% of Operating Profit 31.71% -138.0%
Other Income/Expense, Net $0.00
YoY Change
Pretax Income $1.888M -$531.3K -$4.538M
YoY Change -256.71% -46.86% -8.67%
Income Tax
% Of Pretax Income
Net Earnings $1.357M -$523.5K -$4.571M
YoY Change -211.14% -48.2% -4.15%
Net Earnings / Revenue 52.78% -19.34% -44.5%
Basic Earnings Per Share $0.61 -$2.06
Diluted Earnings Per Share $0.60 -$0.24 -$2.06
COMMON SHARES
Basic Shares Outstanding 2.237M 2.219M 2.219M
Diluted Shares Outstanding 2.248M 2.219M

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.637M $2.235M $2.235M
YoY Change 19.33% -43.03% -43.03%
Cash & Equivalents $3.637M $2.235M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $233.3K $292.6K $292.6K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $3.871M $2.527M $2.527M
YoY Change 15.93% -41.56% -41.56%
LONG-TERM ASSETS
Property, Plant & Equipment $66.31M $64.58M $64.58M
YoY Change -13.03% -15.6% -15.6%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.499M $11.28M $11.28M
YoY Change -22.62% 548.13% 548.13%
Total Long-Term Assets $72.11M $80.22M $80.22M
YoY Change -13.33% -4.03% -4.03%
TOTAL ASSETS
Total Short-Term Assets $3.871M $2.527M $2.527M
Total Long-Term Assets $72.11M $80.22M $80.22M
Total Assets $75.98M $82.75M $82.75M
YoY Change -12.2% -5.88% -5.88%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.031M $1.095M $1.095M
YoY Change -33.35% -8.6% -8.6%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $1.000M $1.000M
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.031M $2.095M $2.095M
YoY Change -33.35% 74.87% 74.87%
LONG-TERM LIABILITIES
Long-Term Debt $55.35M $65.06M $65.06M
YoY Change -15.59% -1.12% -1.12%
Other Long-Term Liabilities $1.885M $1.865M $1.865M
YoY Change -11.65% -16.51% -16.51%
Total Long-Term Liabilities $57.24M $66.92M $66.92M
YoY Change -15.46% -1.62% -1.62%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.031M $2.095M $2.095M
Total Long-Term Liabilities $57.24M $66.92M $66.92M
Total Liabilities $58.27M $69.02M $70.43M
YoY Change -15.86% -0.3% -0.34%
SHAREHOLDERS EQUITY
Retained Earnings -$34.53M -$35.86M
YoY Change 6.78% 15.92%
Common Stock $22.37K $22.19K
YoY Change -87.41% -87.51%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $13.74M $12.32M $12.32M
YoY Change
Total Liabilities & Shareholders Equity $75.98M $82.75M $82.75M
YoY Change -12.2% -5.88% -5.88%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income $1.357M -$523.5K -$4.571M
YoY Change -211.14% -48.2% -4.15%
Depreciation, Depletion And Amortization $840.5K $1.115M $3.684M
YoY Change -7.79% -6.91% 8.95%
Cash From Operating Activities $492.4K -$311.6K $104.0K
YoY Change 9.26% -34.93% -91.29%
INVESTING ACTIVITIES
Capital Expenditures $372.0K $338.8K $1.483M
YoY Change -42.56% -7.86% -86.87%
Acquisitions
YoY Change
Other Investing Activities $3.110M
YoY Change
Cash From Investing Activities $2.738M -$338.8K -$1.483M
YoY Change -522.76% -15.15% -84.09%
FINANCING ACTIVITIES
Cash Dividend Paid $511.0K $383.7K
YoY Change 185.53% -70.69%
Common Stock Issuance & Retirement, Net $1.539M
YoY Change -222.88%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.904M -290.2K -474.1K
YoY Change 296.18% -32.84% -107.4%
NET CHANGE
Cash From Operating Activities 492.4K -311.6K 104.0K
Cash From Investing Activities 2.738M -338.8K -1.483M
Cash From Financing Activities -1.904M -290.2K -474.1K
Net Change In Cash 1.327M -940.6K -1.853M
YoY Change -295.85% -28.21% 7.68%
FREE CASH FLOW
Cash From Operating Activities $492.4K -$311.6K $104.0K
Capital Expenditures $372.0K $338.8K $1.483M
Free Cash Flow $120.4K -$650.4K -$1.379M
YoY Change -161.14% -23.17% -86.35%

Facts In Submission

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MEDALIST DIVERSIFIED REIT, INC.
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CY2022 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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CY2023 us-gaap Net Cash Provided By Used In Operating Activities
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CY2022 us-gaap Net Cash Provided By Used In Operating Activities
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CY2022 mdrr Payments To Acquire Investment Property
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CY2023 us-gaap Payments For Capital Improvements
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CY2022 us-gaap Payments For Capital Improvements
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CY2022 us-gaap Payments For Proceeds From Real Estate Heldforinvestment
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CY2023 us-gaap Net Cash Provided By Used In Investing Activities
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CY2022 us-gaap Net Cash Provided By Used In Investing Activities
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CY2023 us-gaap Payments Of Dividends
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CY2022 us-gaap Payments Of Dividends
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CY2022 us-gaap Payments Of Debt Extinguishment Costs
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CY2023 us-gaap Proceeds From Lines Of Credit
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CY2022 us-gaap Proceeds From Issuance Of Secured Debt
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CY2023 us-gaap Repayments Of Secured Debt
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CY2022 us-gaap Repayments Of Secured Debt
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CY2022 us-gaap Proceeds From Issuance Or Sale Of Equity
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CY2022 us-gaap Payments For Repurchase Of Common Stock
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CY2023 mdrr Payments To Retire Fractional Shares Reverse Stock Split
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CY2023 us-gaap Net Cash Provided By Used In Financing Activities
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CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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CY2022 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
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CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2023Q4 us-gaap Restricted Cash And Cash Equivalents
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CY2022Q4 us-gaap Restricted Cash And Cash Equivalents
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CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3809605
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
5662853
CY2023 us-gaap Interest Paid Net
InterestPaidNet
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CY2022 us-gaap Interest Paid Net
InterestPaidNet
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CY2022 mdrr Release Of Restricted Cash Related To Sale Of Property
ReleaseOfRestrictedCashRelatedToSaleOfProperty
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CY2023 mdrr Transfer Of Investment Properties Net To Assets Held For Sale Net
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CY2023 mdrr Transfer Of Mortgages Payable Net To Mortgages Payable Associated With Assets Held For Sale Net
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CY2023Q4 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
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CY2023 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
890348
CY2022 us-gaap Amortization Of Intangible Assets
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CY2023Q4 us-gaap Deferred Costs Leasing Accumulated Amortization
DeferredCostsLeasingAccumulatedAmortization
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CY2022Q4 us-gaap Deferred Costs Leasing Accumulated Amortization
DeferredCostsLeasingAccumulatedAmortization
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CY2023 mdrr Amortization Of Intangible Assets Write Off
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CY2022 mdrr Amortization Of Intangible Assets Write Off
AmortizationOfIntangibleAssetsWriteOff
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CY2022 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
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CY2023 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
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CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
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CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
3748706
CY2023Q4 us-gaap Below Market Lease Net
BelowMarketLeaseNet
1865310
CY2022Q4 us-gaap Below Market Lease Net
BelowMarketLeaseNet
2234113
CY2023 mdrr Amortization Of Tenant Defaults Written Off
AmortizationOfTenantDefaultsWrittenOff
41501
CY2022 mdrr Amortization Of Tenant Defaults Written Off
AmortizationOfTenantDefaultsWrittenOff
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CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
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CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
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CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
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CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
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CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
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CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
813060
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
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CY2023Q4 us-gaap Below Market Lease Amortization Income Next Twelve Months
BelowMarketLeaseAmortizationIncomeNextTwelveMonths
285892
CY2023Q4 us-gaap Below Market Lease Amortization Income Year Two
BelowMarketLeaseAmortizationIncomeYearTwo
213348
CY2023Q4 us-gaap Below Market Lease Amortization Income Year Three
BelowMarketLeaseAmortizationIncomeYearThree
178776
CY2023Q4 us-gaap Below Market Lease Amortization Income Year Four
BelowMarketLeaseAmortizationIncomeYearFour
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CY2023Q4 us-gaap Below Market Lease Amortization Income Year Five
BelowMarketLeaseAmortizationIncomeYearFive
139855
CY2023Q4 us-gaap Below Market Lease Amortization Income After Year Five
BelowMarketLeaseAmortizationIncomeAfterYearFive
885573
CY2023Q4 us-gaap Below Market Lease Net
BelowMarketLeaseNet
1865310
CY2023 us-gaap Gain Loss On Sales Of Assets And Asset Impairment Charges
GainLossOnSalesOfAssetsAndAssetImpairmentCharges
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CY2022 us-gaap Gain Loss On Sales Of Assets And Asset Impairment Charges
GainLossOnSalesOfAssetsAndAssetImpairmentCharges
-36670
CY2023 mdrr Number Of Tenants Defaulted On Leases And Abandoned Their Premises
NumberOfTenantsDefaultedOnLeasesAndAbandonedTheirPremises
3
CY2022 mdrr Number Of Tenants Defaulted On Leases And Abandoned Their Premises
NumberOfTenantsDefaultedOnLeasesAndAbandonedTheirPremises
2
CY2022 mdrr Real Estate Companies Investment In Real Estate Impairment Loss
RealEstateCompaniesInvestmentInRealEstateImpairmentLoss
13880
CY2023 us-gaap Asset Impairment Charges
AssetImpairmentCharges
26898
CY2022 us-gaap Asset Impairment Charges
AssetImpairmentCharges
22790000
CY2023 us-gaap Gain Loss On Termination Of Lease
GainLossOnTerminationOfLease
-12380000
CY2022 us-gaap Gain Loss On Termination Of Lease
GainLossOnTerminationOfLease
0
CY2023Q4 us-gaap Time Deposits At Or Above Fdic Insurance Limit
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1366872
CY2022Q4 us-gaap Time Deposits At Or Above Fdic Insurance Limit
TimeDepositsAtOrAboveFDICInsuranceLimit
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CY2023Q4 mdrr Security Deposits
SecurityDeposits
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CY2022Q4 mdrr Security Deposits
SecurityDeposits
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CY2023Q4 us-gaap Escrow Deposit
EscrowDeposit
191139
CY2022Q4 us-gaap Escrow Deposit
EscrowDeposit
72019
CY2023Q4 us-gaap Replacement Reserve Escrow
ReplacementReserveEscrow
1122965
CY2022Q4 us-gaap Replacement Reserve Escrow
ReplacementReserveEscrow
1400844
CY2023 mdrr Management Restructuring Expenses
ManagementRestructuringExpenses
2066521
CY2023 us-gaap Severance Costs1
SeveranceCosts1
1250000
CY2023 us-gaap Legal Fees
LegalFees
544077
CY2023Q4 us-gaap Replacement Reserve Escrow
ReplacementReserveEscrow
1122965
CY2022Q4 us-gaap Replacement Reserve Escrow
ReplacementReserveEscrow
1400844
CY2022Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2022 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
278277
CY2023Q4 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
1109782
CY2022Q4 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
1022153
CY2023 mdrr Revenue Recognized From Reimbursement Of Common Area Maintenance Expenses
RevenueRecognizedFromReimbursementOfCommonAreaMaintenanceExpenses
117767
CY2022 mdrr Revenue Recognized From Reimbursement Of Common Area Maintenance Expenses
RevenueRecognizedFromReimbursementOfCommonAreaMaintenanceExpenses
311116
CY2023 mdrr Lease Termination Fee Income
LeaseTerminationFeeIncome
10966
CY2023 mdrr Lender Fee Guaranty Substitution
LenderFeeGuarantySubstitution
262007
CY2023 mdrr Management Restructuring Expenses Other
ManagementRestructuringExpensesOther
10437000
CY2022 mdrr Management Restructuring Expenses
ManagementRestructuringExpenses
0
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
13413
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
47109
CY2023 mdrr Percentage Of Income Required To Be Distributed To Shareholders
PercentageOfIncomeRequiredToBeDistributedToShareholders
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CY2023 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
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
CY2023Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
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CY2023 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_rJMGCI5H6UiAHTeFQvSOkA;"><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>
CY2023 mdrr Capitalized Leasing Commissions Write Off
CapitalizedLeasingCommissionsWriteOff
8078
CY2022 mdrr Capitalized Leasing Commissions Write Off
CapitalizedLeasingCommissionsWriteOff
0
CY2023Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
75701327
CY2022Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
85915860
CY2023Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
11123951
CY2022Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
9400908
CY2023Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
64577376
CY2022Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
76514952
CY2023 mdrr Write Off Of Capitalized Tenant Improvements
WriteOffOfCapitalizedTenantImprovements
21646
CY2022 mdrr Write Off Of Capitalized Tenant Improvements
WriteOffOfCapitalizedTenantImprovements
13879
CY2023 mdrr Capitalized Tenant Improvements
CapitalizedTenantImprovements
828676
CY2022 mdrr Capitalized Tenant Improvements
CapitalizedTenantImprovements
177373
CY2023Q4 mdrr Capitalized Leasing Commissions Net
CapitalizedLeasingCommissionsNet
759677
CY2022Q4 mdrr Capitalized Leasing Commissions Net
CapitalizedLeasingCommissionsNet
555956
CY2023 mdrr Capitalized Leasing Commissions
CapitalizedLeasingCommissions
432613
CY2022 mdrr Capitalized Leasing Commissions
CapitalizedLeasingCommissions
300333
CY2023 mdrr Amortization Of Capitalized Leasing Commissions
AmortizationOfCapitalizedLeasingCommissions
152661
CY2022 mdrr Amortization Of Capitalized Leasing Commissions
AmortizationOfCapitalizedLeasingCommissions
100702
CY2023Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
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CY2023Q2 mdrr Nasdaq Common Stock Minimum Share Bid Price Requirement
NasdaqCommonStockMinimumShareBidPriceRequirement
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CY2023Q4 us-gaap Assets Of Disposal Group Including Discontinued Operation
AssetsOfDisposalGroupIncludingDiscontinuedOperation
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CY2023Q4 us-gaap Secured Debt
SecuredDebt
9588888
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
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CY2021Q4 us-gaap Preferred Stock Dividends Per Share Cash Paid
PreferredStockDividendsPerShareCashPaid
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CY2022Q1 us-gaap Preferred Stock Dividends Per Share Cash Paid
PreferredStockDividendsPerShareCashPaid
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CY2022Q2 us-gaap Preferred Stock Dividends Per Share Cash Paid
PreferredStockDividendsPerShareCashPaid
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CY2022Q3 us-gaap Preferred Stock Dividends Per Share Cash Paid
PreferredStockDividendsPerShareCashPaid
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CY2022Q4 us-gaap Preferred Stock Dividends Per Share Cash Paid
PreferredStockDividendsPerShareCashPaid
0.50
CY2023Q1 us-gaap Preferred Stock Dividends Per Share Cash Paid
PreferredStockDividendsPerShareCashPaid
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CY2023Q2 us-gaap Preferred Stock Dividends Per Share Cash Paid
PreferredStockDividendsPerShareCashPaid
0.50
CY2022 us-gaap Loss On Contract Termination For Default
LossOnContractTerminationForDefault
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CY2023 us-gaap Interest Expense Debt
InterestExpenseDebt
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CY2023 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
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CY2023 mdrr Interest Rate Protection Transaction Payments
InterestRateProtectionTransactionPayments
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CY2023 us-gaap Interest Expense Other
InterestExpenseOther
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CY2023 us-gaap Interest Expense
InterestExpense
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CY2022 us-gaap Interest Expense Debt
InterestExpenseDebt
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CY2022 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
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CY2022 mdrr Interest Rate Protection Transaction Payments
InterestRateProtectionTransactionPayments
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CY2022 us-gaap Interest Expense Other
InterestExpenseOther
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CY2022 us-gaap Interest Expense
InterestExpense
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CY2023Q4 us-gaap Interest Payable Current
InterestPayableCurrent
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CY2023Q4 us-gaap Accumulated Amortization Deferred Finance Costs
AccumulatedAmortizationDeferredFinanceCosts
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CY2022Q4 us-gaap Interest Payable Current
InterestPayableCurrent
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CY2022Q4 us-gaap Accumulated Amortization Deferred Finance Costs
AccumulatedAmortizationDeferredFinanceCosts
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CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
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CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
1391793
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
1461755
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
17625894
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
9117373
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
30289975
CY2023Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
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CY2023Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
618710
CY2023Q4 us-gaap Long Term Debt
LongTermDebt
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CY2023Q4 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
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CY2023Q4 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
7324943
CY2023Q4 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
5466396
CY2023Q4 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
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CY2023Q4 us-gaap Lessor Operating Lease Payments To Be Received Five Years
LessorOperatingLeasePaymentsToBeReceivedFiveYears
3359566
CY2023Q4 us-gaap Lessor Operating Lease Payments To Be Received Thereafter
LessorOperatingLeasePaymentsToBeReceivedThereafter
7241898
CY2023Q4 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
35668177
CY2023Q4 mdrr Shares Authorized
SharesAuthorized
1000000000
CY2023Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
750000000
CY2023Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
250000000
CY2023Q2 mdrr Minimum Bid Price Requirement Minimum Number Of Consecutive Business Days
MinimumBidPriceRequirementMinimumNumberOfConsecutiveBusinessDays
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CY2023Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
17758421
CY2023Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
2219803
CY2023Q2 mdrr Common Stock Reverse Stock Split Fractional Shares Issued
CommonStockReverseStockSplitFractionalSharesIssued
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CY2023Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
2218810
CY2023Q2 mdrr Nasdaq Common Stock Minimum Share Bid Price Requirement
NasdaqCommonStockMinimumShareBidPriceRequirement
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CY2023Q2 mdrr Minimum Bid Price Requirement Minimum Number Of Consecutive Business Days
MinimumBidPriceRequirementMinimumNumberOfConsecutiveBusinessDays
10
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
CommonStockParOrStatedValuePerShare
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CY2023Q4 mdrr Common Stock Aggregate Value Authorized
CommonStockAggregateValueAuthorized
150000000
CY2022Q4 mdrr Legal Costs And Filing Fees Incurred
LegalCostsAndFilingFeesIncurred
84926
CY2023Q4 mdrr Legal Costs And Filing Fees Incurred
LegalCostsAndFilingFeesIncurred
84926
CY2021Q4 mdrr Threshold Period To Issue Shares
ThresholdPeriodToIssueShares
P36M
CY2023 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
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CY2023 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
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CY2023Q4 mdrr Sales Price Per Share Average
SalesPricePerShareAverage
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CY2022Q1 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
11325
CY2022Q1 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
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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
StockIssuedDuringPeriodSharesNewIssues
34524
CY2022Q1 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
8.40
CY2022Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
290000
CY2022Q1 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
34851
CY2022Q1 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
8.61
CY2022Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
300000
CY2022Q1 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
59258
CY2022Q1 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
8.44
CY2022Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
500000
CY2022Q2 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
40718
CY2022Q2 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
8.60
CY2022Q2 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
350313
CY2023 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
180676
CY2023Q4 mdrr Sales Price Per Share Average
SalesPricePerShareAverage
8.52
CY2023 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
1538887
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2219149
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2140327
CY2023 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
26691
CY2022 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
26691
CY2023 mdrr Weighted Average Number Of Diluted Shares Outstanding Effect Of Conversion
WeightedAverageNumberOfDilutedSharesOutstandingEffectOfConversion
2245840
CY2022 mdrr Weighted Average Number Of Diluted Shares Outstanding Effect Of Conversion
WeightedAverageNumberOfDilutedSharesOutstandingEffectOfConversion
2167018
CY2023 us-gaap Net Income Loss
NetIncomeLoss
-4571279
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-4769241
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2219149
CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
2219149
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2140327
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
2140327
CY2023 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-2.06
CY2023 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-2.06
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-2.23
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-2.23
CY2023Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.08
CY2022Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.16
CY2022Q4 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.08
CY2023 us-gaap Dividends Common Stock
DividendsCommonStock
354394
CY2022 us-gaap Dividends Common Stock
DividendsCommonStock
1188433
CY2023 us-gaap Dividends
Dividends
383665
CY2022 us-gaap Dividends
Dividends
1309180
CY2023 us-gaap Concentration Risk Percentage1
ConcentrationRiskPercentage1
1
CY2023 mdrr Incentive Fee Expense Payable To External Manager
IncentiveFeeExpensePayableToExternalManager
0
CY2022 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3
CY2022Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
85915860
CY2023 mdrr Real Estate Capitalized Leasing Commissions
RealEstateCapitalizedLeasingCommissions
432613
CY2023 mdrr Real Estate Capitalized Tenant Improvements
RealEstateCapitalizedTenantImprovements
828675
CY2023 us-gaap Real Estate Improvements
RealEstateImprovements
221828
CY2023 mdrr Real Estate Companies Investment In Real Estate Impairment Loss
RealEstateCompaniesInvestmentInRealEstateImpairmentLoss
29723
CY2023 mdrr Real Estate Fully Amortized Tenant Improvements
RealEstateFullyAmortizedTenantImprovements
496072
CY2023Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
86873181
CY2022Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
9400908
CY2023 us-gaap Real Estate Accumulated Depreciation Other Additions
RealEstateAccumulatedDepreciationOtherAdditions
3683815
CY2023 us-gaap Real Estate Accumulated Depreciation Other Deductions
RealEstateAccumulatedDepreciationOtherDeductions
496072
CY2023Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
12588651
CY2023Q4 us-gaap Sec Schedule Iii Real Estate Investment Property Net
SECScheduleIIIRealEstateInvestmentPropertyNet
74284530
CY2021Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
86464643
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
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

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