Medalist Diversified, Inc. · NASDAQ:MDRR
Medalist Diversified — Medalist Diversified REIT — FY2024 Earnings Presentation
19 slides from Medalist Diversified's earnings presentation, Mar 18, 2025
Slide 1: Supplemental 2024 Financial Information
Nasdaq: MDRR medalistreit.com Supplemental 2024 Financial Information Year Ending December 31, 2024 Exhibit 99.2
Slide 2: Medalist Diversified REIT Announces 2024 Annual Financial Results
© 2025, All Rights Reserved Medalist Diversified REIT Announces 2024 Annual Financial Results Richmond, VA – March 14, 2025 – Medalist Diversified REIT, Inc. (NASDAQ: MDRR), a Virginia-based real estate investment trust specializing in acquiring, owning, and managing value-add properties in the Sout
Slide 3: 2024 Overview: Key Highlights and Portfolio Data
© 2025, All Rights Reserved 2024 Overview Key Highlights and Portfolio Data 3 Medalist Diversified REIT (NASDAQ: MDRR) is a real estate investment trust that specializes in acquiring, owning, and managing value-add commercial real estate. As of December 31, 2024, our portfolio consists of 9 assets i
Slide 4: Current Portfolio Composition: Single Tenant Net Lease Portfolio Highlights
© 2025, All Rights Reserved Current Portfolio Composition Single Tenant Net Lease (STNL) Portfolio Highlights 4 Exhibit 99.2 STNL assets offer stability and predictable income streams, making them attractive investments. On March 28, 2024, the Company completed its acquisition of the Citibank Proper
Slide 5: Current Portfolio Composition: Retail Portfolio Highlights
© 2025, All Rights Reserved Current Portfolio Composition Retail Portfolio Highlights 5 Exhibit 99.2 Our properties attract tenants that have proven to be resilient in challenging economic conditions and market downturns. 13.2% of our retail portfolio’s rent is derived from Amazon resistant experien
Slide 6: Current Portfolio Composition: Flex / Industrial Portfolio Highlights
© 2025, All Rights Reserved Current Portfolio Composition Flex / Industrial Portfolio Highlights 6 Exhibit 99.2 We invest in “workforce” or “necessity” real estate because we believe it is more stable with lower turnover and less volatile economic swings. 28% of our rent is derived from non-retail “
Slide 7: Portfolio Diversification: Concentrated in High Growth Sunbelt Markets
© 2025, All Rights Reserved Portfolio Diversification Our Portfolio is Concentrated in High Growth Sunbelt Markets 7 Secondary and Tertiary market focus generates a more attractive return profile due to less competition from institutional investors. Sunbelt state focus provides growing markets where
Slide 8: Consolidated Statements of Operations
© 2025, All Rights Reserved Consolidated Statements of Operations 8 Exhibit 99.2 Year Ending December 31, 2024 2023 $ Change % Change Consolidated Statements of Operations REVENUE Retail center property revenues $ 6,624,734 $ 7,541,914 $ (917,180) (12.2%) Flex center property revenues 2,750,499 2,50
Slide 9: Funds From Operations and Adj. Funds From Operations
© 2025, All Rights Reserved Funds From Operations and Adj. Funds From Operations 9 Exhibit 99.2 1) Common share equivalents include Operating Partnership ("OP") Units in Medalist Diversified REIT’s Operating Partnership. These OP Units have economic rights equivalent to Medalist common shares but ma
Slide 10: EBITDAre and GAAP Net Operating Income (NOI)
© 2025, All Rights Reserved EBITDAre and GAAP Net Operating Income (NOI) 10 Exhibit 99.2 Year Ending December 31, 2024 2023 $ Change % Change EBITDAre Net Income (Loss) $ 744,325 $ (4,573,354) $ 5,317,679 (116.3%) Plus: Amortization of loan issuance costs 100,479 106,882 (6,403) (6.0%) Plus: Amortiz
Slide 11: Cash and Same-Store Cash Net Operating Income (NOI)
© 2025, All Rights Reserved Cash and Same-Store Cash Net Operating Income (NOI) 11 Exhibit 99.2 Year Ending December 31, 2024 2023 $ Change % Change Cash Net Operating Income (NOI) GAAP Net Operating Income (NOI) $ 7,343,478 $ 7,609,027 $ (265,549) (3.5%) Plus: Bad debt expense 39,910 63,282 (23,372
Slide 12: Same-Store Cash Net Operating Income (NOI) by Sector
© 2025, All Rights Reserved Same-Store Cash Net Operating Income (NOI) by Sector 12 Exhibit 99.2 Year Ending December 31, 2024 2023 $ Change % Change Same-Store Cash Net Operating Income (NOI) - Retail Property revenues $ 5,233,455 $ 5,103,964 $ 129,491 2.5% Percentage rent - 9,787 (9,787) – % Tenan
Slide 13: Non-GAAP Definitions and Explanations
© 2025, All Rights Reserved Non-GAAP Definitions and Explanations •Investors and analysts following the real estate industry utilize certain financial measures as supplemental performance measures, including net operating income ("NOI"), EBITDA for real estate ("EBITDAre"), Funds from operations (“F
Slide 14: Non-GAAP Definitions and Explanations (continued)
© 2025, All Rights Reserved Non-GAAP Definitions and Explanations (continued) •EBITDAre is a non-GAAP financial measure, defined for the most recent period as earnings (net income) before (i) interest expense, (ii) income taxes, (iii) depreciation and amortization, (iv) provisions for impairment, an
Slide 15: Non-GAAP Definitions and Explanations (continued)
© 2025, All Rights Reserved Non-GAAP Definitions and Explanations (continued) •Most industry analysts and equity REITs, including us, consider FFO to be an appropriate supplemental measure of operating performance because, by excluding gains or losses on dispositions and excluding depreciation, FFO
Slide 16: Non-GAAP Definitions and Explanations (continued)
© 2025, All Rights Reserved Non-GAAP Definitions and Explanations (continued) •We compute Core and Adjusted Earnings Metrics by adjusting the metric to exclude certain GAAP income and expense amounts that we believe are infrequent and unusual in nature and/or not related to our core real estate oper
Slide 17: Forward-Looking Statements and Risk Factors
© 2025, All Rights Reserved Forward-Looking Statements and Risk Factors •The information in this presentation should be read in conjunction with the Company's Annual Report on Form 10-K and other information filed with the Securities and Exchange Commission. This presentation is not incorporated int
Slide 18: Forward-Looking Statements and Risk Factors (continued)
© 2025, All Rights Reserved Forward-Looking Statements and Risk Factors (continued) The following risks and uncertainties, among others, could cause actual results and future events to differ materially from those set forth or contemplated in the forward-looking statements: industry and global and l
Slide 19: Forward-Looking Statements and Risk Factors (continued)
© 2025, All Rights Reserved Forward-Looking Statements and Risk Factors (continued) •Notice Regarding Non-GAAP Financial Measures •In addition to U.S. GAAP financial measures, this presentation contains and may refer to certain non-GAAP financial measures. These non-GAAP financial measures are in ad
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