Wells Fargo Amends Medalist Diversified REIT Stake

TL;DR

**Wells Fargo updated its stake in Medalist Diversified REIT, signaling continued institutional interest.**

AI Summary

Wells Fargo & Company filed an amended SC 13G/A on February 6, 2024, indicating a change in their beneficial ownership of Medalist Diversified REIT Inc. as of December 31, 2023. This filing, an amendment to a previous disclosure, shows that Wells Fargo continues to hold a significant stake in the REIT. This matters to investors because large institutional holdings like Wells Fargo's can influence stock stability and signal confidence (or lack thereof) in the company's future performance.

Why It Matters

This filing updates Wells Fargo's beneficial ownership in Medalist Diversified REIT, providing transparency on a major institutional investor's position, which can impact market perception and trading activity.

Risk Assessment

Risk Level: low — This is a routine amendment filing by an institutional investor, not indicating any immediate high-risk events.

Analyst Insight

Investors should note that a major institution like Wells Fargo continues to hold a position in Medalist Diversified REIT, suggesting ongoing institutional interest. While this filing doesn't reveal specific changes in share count, it confirms their continued presence and adherence to reporting requirements.

Key Players & Entities

• Wells Fargo & Company (company) — the reporting person filing the SC 13G/A
• Medalist Diversified REIT, Inc. (company) — the subject company whose securities are being reported
• December 31, 2023 (date) — the date of the event requiring the filing
• February 6, 2024 (date) — the filing date of the SC 13G/A
• Delaware (company) — state of incorporation for Wells Fargo & Company

FAQ

Filing Documents

• wf_medalist_58403P303.htm (SC 13G/A) — 28KB
• 0000072971-24-000046.txt ( ) — 29KB

From the Filing

SC 13G/A 1 wf_medalist_58403P303.htm UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. 1)* MEDALIST DIVERSIFIED REIT INC (Name of Issuer) REIT (Title of Class of Securities) 58403P303 (CUSIP Number) December 31, 2023 (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [X] Rule 13d-1 (b) [] Rule 13d-1 (c) [] Rule 13d-1 (d) The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP No. 58403P303 Person 1 1. (a) Names of Reporting Persons Wells Fargo & Company (b) Tax ID 41-0449260 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) [] (b) [] 3. SEC Use Only 4. Citizenship or Place of Organization: Delaware Number of Shares Beneficially Owned by Each Reporting Person With 5. Sole Voting Power: 11 6. Shared Voting Power: 0 7. Sole Dispositive Power: 11 8. Shared Dispositive Power: 0 9. Aggregate Amount Beneficially Owned by Each Reporting Person: 11 10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [] 11. Percent of Class Represented by Amount in Row (9): 0.0% 12. Type of Reporting Person (See Instructions) HC Item 1. (a) Name of Issuer MEDALIST DIVERSIFIED REIT INC (b) Address of issuer's principal executive offices PO BOX 8436, Richmond, VA, United States 23226 Item 2. (a) Name of Person Filing Wells Fargo & Company (b) Address of Principal Business Office or, if none, Residence 420 Montgomery Street, San Francisco, CA 94163 (c) Citizenship Delaware (d) Title of Class of Securities REIT (e) CUSIP Number 58403P303 Item 3. If this statement is filed pursuant to 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: (a) [ ] Broker or dealer registered under section 15 of the Act (15 U.S.C. 78c) (b) [ ] Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c). (c) [ ] Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c). (d) [ ] Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C 80a-8). (e) [ ] An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E); (f) [ ] An employee benefit plan or endowment fund in accordance with 240.13d-1(b)(1)(ii)(F); (g) [X] A parent holding company or control person in accordance with 240.13d-1(b)(1)(ii)(G); (h) [ ] A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) [ ] A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); (j) [ ] A non-U.S.institution in accordance with 240.13d-1(b)(1)(ii)(J); (k) [ ] Group, in accordance with 240.13d-1(b)(1)(ii)(K). If filing as a non-U.S.institution in accordance with 240.13d-1(b)(1)(ii)(J), please specify the type of institution: ______________ Item 4. Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. (a) Amount beneficially owned: 11 (b) Percent of class: 0.0% (c) Number of shares as to which the person has: (i) Sole power to vote or to direct the vote: 11 (ii) Shared power to vote or to direct the vote: 0 (iii) Sole power to dispose or to direct the disposition of: 11 (iv) Shared power to dispose or to direct the disposition of: 0 Item 5. If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following [X]. Item 6. Not applicable Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company or Control Person. See Exhibit B Item 8. Identification and Classification of Members of the Group Not applicable Item 9. Notice of Dissolution of Group Not applicable Item 10. Certification By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing

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