Diversification

Medalist Diversified REIT, Inc. Reports First Quarter 2023 Financial Results

Retrieved on: 
Thursday, May 11, 2023

Medalist Diversified REIT, Inc. (NASDAQ:MDRR) (the “Company”), a Virginia-based real estate investment trust that specializes in acquiring, owning and managing commercial real estate in the Southeast region of the U.S., today reported financial results for the three months ended March 31, 2023.

Key Points: 
  • Medalist Diversified REIT, Inc. (NASDAQ:MDRR) (the “Company”), a Virginia-based real estate investment trust that specializes in acquiring, owning and managing commercial real estate in the Southeast region of the U.S., today reported financial results for the three months ended March 31, 2023.
  • In addition, the Company released supplemental financial information about its first quarter 2023 financial results.
  • Total revenues decreased by 15% to $2,460,976, down from $2,903,964 for the same quarter in 2022.
  • Excluding Q1 2022 revenues and expenses from the Company’s Clemson Best Western Hotel, the 2023 operating loss represented a $286,311 improvement over the same quarter in 2022.

Diversified Communications Announced New Leadership for US Operating Division

Retrieved on: 
Tuesday, May 9, 2023

PORTLAND, Maine, May 9, 2023 /PRNewswire-PRWeb/ -- Diversified Communications announced the promotion of Liz Plizga to President and Joann Leonard to Sr. Vice President of Operations of the Diversified Communications US Division.

Key Points: 
  • Diversified Communications announced today the promotion of Liz Plizga to President and Joann Leonard to Sr. Vice President of Operations of the Diversified Communications' US Division.
  • PORTLAND, Maine, May 9, 2023 /PRNewswire-PRWeb/ -- Diversified Communications announced the promotion of Liz Plizga to President and Joann Leonard to Sr. Vice President of Operations of the Diversified Communications US Division.
  • "The corporate team and I are looking forward to collaborating with them as they form their bold vision for the future of Diversified Communications USA."
  • This news follows two recent promotions due to the strong growth of the US division.

Medalist Diversified REIT, Inc. Announces Effectiveness of Reverse Stock Split

Retrieved on: 
Wednesday, May 3, 2023

The Reverse Stock Split will affect all holders of Common Stock uniformly and will not affect any common stockholder’s percentage ownership interest in the Company, except for any fractional shares of Common Stock that would otherwise have resulted from the Reverse Stock Split which will be settled by cash payment, calculated on the basis of the closing trading price of the Common Stock (as adjusted for the Reverse Stock Split) on May 3, 2023 on Nasdaq multiplied by such fraction.

Key Points: 
  • The Reverse Stock Split will affect all holders of Common Stock uniformly and will not affect any common stockholder’s percentage ownership interest in the Company, except for any fractional shares of Common Stock that would otherwise have resulted from the Reverse Stock Split which will be settled by cash payment, calculated on the basis of the closing trading price of the Common Stock (as adjusted for the Reverse Stock Split) on May 3, 2023 on Nasdaq multiplied by such fraction.
  • Stockholders who hold their shares in brokerage accounts or in “street name” are not required to take any action in connection with the Reverse Stock Split.
  • As a result of the Reverse Stock Split, the number of shares of Common Stock outstanding will be reduced from 17,758,421 shares to approximately 2,219,000 shares as of the Effective Time.
  • The Reverse Stock Split is intended to help the Company regain compliance with the $1.00 minimum bid price requirement for continued listing on Nasdaq.

Medalist Diversified REIT, Inc. Announces Reverse Stock Split and Provides Update on Strategic Review Process

Retrieved on: 
Tuesday, April 18, 2023

The Reverse Stock Split is expected to take effect as of 5:00 p.m. Eastern Time, on May 3, 2023 (the “Effective Time”).

Key Points: 
  • The Reverse Stock Split is expected to take effect as of 5:00 p.m. Eastern Time, on May 3, 2023 (the “Effective Time”).
  • Accordingly, at the Effective Time, every eight issued and outstanding shares of Common Stock will be converted into one share of Common Stock.
  • No fractional shares will be issued in connection with the Reverse Stock Split.
  • The Reverse Stock Split is intended to help the Company regain compliance with the $1.00 minimum bid price requirement for continued listing on Nasdaq.

Vornado Releases 2022 Environmental, Social, & Governance Report

Retrieved on: 
Monday, April 10, 2023

NEW YORK, April 10, 2023 (GLOBE NEWSWIRE) -- VORNADO REALTY TRUST (NYSE: VNO) announced today that it released its 2022 Environmental, Social, & Governance (“ESG”) report.

Key Points: 
  • NEW YORK, April 10, 2023 (GLOBE NEWSWIRE) -- VORNADO REALTY TRUST (NYSE: VNO) announced today that it released its 2022 Environmental, Social, & Governance (“ESG”) report.
  • This ESG report is Vornado's fourteenth consecutive annual report which highlights the Company's industry-leading accomplishments in sustainability and provides key metrics on the Company’s ESG priorities.
  • Key ESG achievements include:
    Procured 100% renewable energy credits (RECs) for electricity directly managed by Vornado in the key markets in which we operate.
  • Our report, along with expanded information on Vornado’s ESG programs, can be found on the Company's website located at www.vno.com.

DIVERSIFIED HEALTHCARE INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Diversified Healthcare Trust - DHC

Retrieved on: 
Thursday, April 13, 2023

and the law firm of Kahn Swick & Foti, LLC (“KSF”) are investigating the proposed sale of Diversified Healthcare Trust (NasdaqGS: DHC) to Office Properties Income Trust (NasdaqGS: OPI).

Key Points: 
  • and the law firm of Kahn Swick & Foti, LLC (“KSF”) are investigating the proposed sale of Diversified Healthcare Trust (NasdaqGS: DHC) to Office Properties Income Trust (NasdaqGS: OPI).
  • Under the terms of the proposed transaction, shareholders of Diversified will receive 0.147 shares of OPI for each share of Diversified that they own.
  • KSF is seeking to determine whether this consideration and the process that led to it are adequate, or whether the consideration undervalues the Company.
  • To learn more about KSF, whose partners include the Former Louisiana Attorney General, visit www.ksfcounsel.com .

Medalist Diversified REIT, Inc. Announces Cash Dividend of $0.01 Per Share on Its Common Stock and $0.50 Per Share on Its Series A Preferred Stock

Retrieved on: 
Wednesday, April 12, 2023

Medalist Diversified REIT, Inc. (NASDAQ: MDRR) (the "Company" or "Medalist"), a Virginia-based real estate investment trust that specializes in acquiring, owning and managing commercial real estate in the Southeast region of the U.S., announced today that its Board of Directors declared a quarterly cash dividend of $0.01 per share on the Company’s common stock (the "Common Stock Dividend").

Key Points: 
  • Medalist Diversified REIT, Inc. (NASDAQ: MDRR) (the "Company" or "Medalist"), a Virginia-based real estate investment trust that specializes in acquiring, owning and managing commercial real estate in the Southeast region of the U.S., announced today that its Board of Directors declared a quarterly cash dividend of $0.01 per share on the Company’s common stock (the "Common Stock Dividend").
  • The Common Stock Dividend is payable in cash on April 28, 2023, to holders of record as of April 25, 2023.
  • The Board of Directors also declared a dividend of $0.50 per share on the Company’s 8.0% Series A Cumulative Redeemable Preferred Stock (the "Series A Dividend").
  • The Series A Dividend is payable in cash on April 28, 2023, to holders of record as of April 25, 2023.

VTS Announces Accelerate 2023, the Leading Innovation Conference for Commercial Real Estate Executives

Retrieved on: 
Thursday, March 30, 2023

The premier conference will bring together more than 400 innovative executives and influential thought leaders to discuss the technologies, trends, and ideas that define modern commercial real estate, as well as methods and tactics to navigate the current economic climate.

Key Points: 
  • The premier conference will bring together more than 400 innovative executives and influential thought leaders to discuss the technologies, trends, and ideas that define modern commercial real estate, as well as methods and tactics to navigate the current economic climate.
  • Attendees will hear first-hand the latest product updates from VTS on the VTS Platform – commercial real estate’s leading tech stack.
  • Accelerate 2023 will feature two days of content, including keynote presentations from distinguished guest speakers and VTS executives, breakout sessions with influential commercial real estate leaders and tech visionaries, VTS user-education content, and networking events.
  • Accelerate also will provide the opportunity to interface with product pop-ups, live demos, a technical genius bar, and the VTS Tenant Demand Game.

NORTH AMERICAN SPECIALTY LAMINATIONS ("NASL") ACQUIRES DIVERSIFIED MANUFACTURING OF CALIFORNIA ("DMOC"), EXPANDING NASL'S PROFILE LAMINATION CAPACITY, AND ESTABLISHING ITS COAST-TO-COAST FOOTPRINT

Retrieved on: 
Thursday, March 23, 2023

OSSEO, Wis., March 23, 2023 /PRNewswire/ -- North American Specialty Laminations ("NASL"), the leading provider of differentiated specialty lamination, fabrication, and finishing solutions to the building products OEM industry, today announced its acquisition of Diversified Manufacturing of California ("DMOC") dba, Profile Wrapping; (https://profilewrapping.com) - a West Coast-based profile lamination wrapping specialist.  NASL serves customers in the window, door, flooring, specialty millwork, cabinetry, and case-goods markets.  It is backed by Building Industry Partners ("BIP"), the leading private equity firm focused on the U.S. building industry.

Key Points: 
  • It is backed by Building Industry Partners ("BIP"), the leading private equity firm focused on the U.S. building industry.
  • With recessionary and near-term housing market headwinds, capital investment costs, labor constraints and rising transportation costs pose major obstacles in the market.
  • DMOC's expertise will immediately augment NASL's lamination capabilities and capacity, particularly for color products in the window and door markets.
  • DMOC's employees hold an average of 15 years of lamination experience, and NASL plans to retain all of them.

North American Specialty Laminations (“NASL”) Acquires Diversified Manufacturing of California, Expanding NASL’s Profile Lamination Capacity and Establishing Its Coast-to-Coast Footprint

Retrieved on: 
Thursday, March 23, 2023

North American Specialty Laminations (“NASL”), the leading provider of differentiated specialty lamination, fabrication, and finishing solutions to the building products OEM industry, today announced its acquisition of Diversified Manufacturing of California (“DMOC”) dba Profile Wrapping ( https://profilewrapping.com ), a West Coast-based profile lamination wrapping specialist.

Key Points: 
  • North American Specialty Laminations (“NASL”), the leading provider of differentiated specialty lamination, fabrication, and finishing solutions to the building products OEM industry, today announced its acquisition of Diversified Manufacturing of California (“DMOC”) dba Profile Wrapping ( https://profilewrapping.com ), a West Coast-based profile lamination wrapping specialist.
  • It is backed by Building Industry Partners (“BIP”), the leading private equity firm focused on the U.S. building industry.
  • DMOC’s expertise will immediately augment NASL’s lamination capabilities and capacity, particularly for color products in the window and door markets.
  • DMOC’s employees hold an average of 15 years of lamination experience, and NASL plans to retain all of them.