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Institutional distribution: ownership decreased -0.80% quarter-over-quarter.
Data as of Q1 2026
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Top 8 institutional holders — bubble size is position value, color is the move since last quarter. Hover any holder for detail.
Drag any bubble to rearrange · size = dollar value of the position
How management deployed cash over 8 years — and what it earned on reinvestment.
A cash-return story — far more went to shareholders than back into the business (mature, low-reinvestment).
Insufficient data. Current ROIC on all capital: -4%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 8 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
How much the company owes, how it's trended, and how comfortably it's serviced.
Cash of $3M covers the $1M due within a year 1.9× over. Scheduled principal only (excludes interest & revolver draws). As of 2025-12-31 (10-K).
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Thin coverage — earnings barely cover interest. Effective rate ~5.1% on $51M of debt.
Cash vs short-term debt unavailable.
Mostly long-term debt (balance-sheet current vs non-current split). See the maturity ladder above for the year-by-year repayment schedule.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Maturity ladder from the SEC long-term-debt repayment schedule. Educational — not a recommendation.
Solve the discounted cash flow backwards, then stress-test the assumptions.
To be worth $11.71 today, the market must believe free cash flow compounds 33.4%/yr for a decade (off $485367 normalized FCF).
The market's 33.4% is more optimistic than its 4-yr track record.
2-stage DCF · 0.00B shares · net debt $49M
mean -339.6% · volatility σ 474% · implied rate exceeded in 0/3 yrs
Central path = implied 33.4%/yr growth; shaded band = ±1σ (474%) of this company's historical FCF volatility, widening with time. The wider the band, the less certain the growth.
Reverse DCF: rather than guessing a fair value, we solve for the growth the current price implies, then you stress-test the assumptions. Enterprise value of the FCF stream, less net debt, ÷ shares. Educational — not a recommendation.
Is the value real, and is the business safe? Academic scores + earnings quality + solvency, from SEC filings.
4/6 of the 9 checks — 3 couldn't be scored (see above), so the score is out of the 6 with data.
Insufficient balance-sheet detail (needs retained earnings, working capital, equity).
Needs granular two-year detail (receivables, PP&E, D&A, SG&A) — not fully reported.
Cash-conversion data unavailable. Lower/negative accruals = higher quality (Sloan).
Interest coverage is thin — monitor.
F-Score (0–9 fundamental momentum), Altman Z (distress risk), and Beneish M (earnings-manipulation screen) are academic models computed from the SEC filings. Screens and context — educational, not recommendations.
What the company returns to shareholders — and whether it's covered by cash.
No dividend to cover. Last year: $0 dividends + $140788 buybacks = $140788 returned on $76993 FCF.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
Total shares institutions bought (green) vs sold (red) each quarter across all holders.
Inferred from quarter-over-quarter change in each fund's 13F position (new stakes count as buys, exits as sells). Not tick-level trades.
EOD close · as of 2026-09-17
How a revenue dollar becomes profit — FY2025
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $10.4M 100.0% | $9.7M 100.0% | $10.3M 100.0% | $11.1M 100.0% | $11.5M 100.0% | $9.3M 100.0% | $8.3M 100.0% | $6.6M 100.0% |
| Cost of Revenue | — | — | — | — | — | $605K 6.5% | $486K 5.9% | $340K 5.2% |
| Selling, General & Admin | $1.3M 12.3% | $968K 9.9% | $484K 4.7% | $458K 4.1% | $654K 5.7% | $301K 3.2% | $262K 3.2% | $120K 1.8% |
| Total Operating Expenses | $10.1M 97.5% | $8.7M 89.6% | $11.3M 109.7% | $11.7M 105.4% | $10.8M 94.0% | $15.0M 161.9% | $9.5M 115.1% | $7.7M 116.2% |
| Operating Income | $548K 5.3% | $3.7M 38.3% | -$997K -9.7% | -$1.4M -12.7% | $815K 7.1% | -$5.7M -61.9% | -$1.2M -15.1% | -$1.1M -16.2% |
| Interest Expense | $2.6M 25.2% | $3.0M 31.0% | $3.5M 34.5% | $3.6M 32.1% | $5.5M 48.2% | $4.0M 42.7% | $2.5M 29.9% | $1.9M 29.1% |
| Other Income (Expense), net | — | — | — | — | $361K 3.2% | $121K 1.3% | -$84K -1.0% | $44K 0.7% |
| Pretax Income | -$2.1M -19.9% | $712K 7.3% | -$4.5M -44.2% | -$5.0M -44.8% | -$4.7M -41.1% | -$9.7M -104.6% | -$3.8M -46.0% | -$2.9M -44.6% |
| Income Tax Expense | $0 0.0% | $0 0.0% | — | — | $0 0.0% | — | $0 0.0% | $53K 0.8% |
| Net Income | -$2.4M -23.0% | $28K 0.3% | -$4.6M -44.5% | -$4.8M -43.0% | -$4.4M -38.0% | -$8.2M -88.2% | -$3.0M -36.4% | -$2.7M -41.6% |
| Per Share | ||||||||
| EPS (Basic) | $-1.90 | $0.02 | $-4.12 | $-2.23 | $-0.33 | $-1.74 | — | — |
| EPS (Diluted) | $-1.90 | $0.03 | $-4.12 | $-2.23 | $-0.33 | $-1.74 | — | — |
| Weighted Avg Shares (Basic) | 1.3M | 1.1M | 1.1M | 2.1M | 13.1M | 4.7M | 3.7M | 2.0M |
| Weighted Avg Shares (Diluted) | 1.3M | 1.1M | 1.1M | 2.1M | 13.1M | 4.7M | 3.8M | 2.1M |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
Ranked against 240 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-03-31.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WELL | $163.3B | 168.7× | — | 15.1× | 35.6% | 40.1% | 8.9% | 2.3% | 1.6% | — | 1,425 |
| XHG | $130.7B | — | — | 2546.6× | 24.9% | 2.2% | -205% | 85.0% | 88.3% | — | 1 |
| PLD | $124.3B | 37.6× | — | 14.1× | 7.2% | — | 37.9% | 6.3% | 3.8% | — | 1,592 |
| EQIX | $99.8B | 73.8× | 25.5× | 10.8× | 5.4% | 51.1% | 14.6% | 9.5% | 8.7% | 0.3× | 1,229 |
| AMT | $82.3B | 32.7× | 14.2× | 7.7× | 5.1% | — | 24.7% | 72.0% | 37.3% | 0.6× | 1,662 |
| SPG | $66.2B | 14.3× | — | 10.4× | 6.7% | — | 84.3% | 103% | 15.9% | — | 1,242 |
| O | $53.4B | 48.9× | — | 9.3× | 9.1% | — | 18.4% | 2.7% | 2.7% | — | 1,389 |
| PSA | $51.7B | 32.7× | — | 10.7× | 2.7% | — | 37.0% | 19.3% | 9.1% | — | 1,045 |
| VTR | $41.9B | 163.3× | — | 7.2× | 18.5% | — | 4.5% | 2.1% | 1.0% | — | 891 |
| CBRE | $41.0B | 36.0× | — | 1.0× | 13.4% | 18.7% | 2.9% | 13.0% | 7.1% | — | 1,020 |
| IRM | $33.2B | 228.9× | 22.6× | 4.8× | 12.2% | — | 2.2% | -15.5% | 1.0% | 7.5× | 1,043 |
| EXR | $28.8B | 29.7× | 13.5× | 8.5× | 3.7% | 72.8% | 28.8% | 7.3% | 7.3% | — | 722 |
| AVB | $26.6B | 25.6× | 12.2× | 8.7× | 4.4% | — | 34.7% | 9.1% | 5.0% | 3.2× | 715 |
| VICI | $26.2B | 9.4× | — | 6.5× | 4.1% | 99.3% | 69.3% | 10.0% | 6.2% | — | 898 |
| EQR | $25.6B | 23.0× | — | — | — | — | — | 10.1% | 5.8% | — | 681 |
| SBAC | $19.0B | 18.4× | 21.5× | 6.8× | 5.1% | 75.5% | 37.4% | -21.7% | 13.1% | 8.7× | 636 |
| BEKE | $17.6B | 133.1× | 37.9× | 1.3× | 5.6% | 21.4% | 3.2% | 4.5% | 4.5% | — | 197 |
| ESS | $17.5B | 26.1× | 11.6× | 9.3× | 6.4% | 69.9% | 37.2% | 12.7% | 12.7% | — | 582 |
| INVH | $16.6B | 28.3× | — | 6.1× | 4.2% | — | 21.5% | 6.2% | 3.3% | — | 560 |
| JLL | $16.0B | 20.7× | 11.9× | 0.6× | 11.4% | — | 3.0% | 10.6% | 10.4% | 0.1× | 615 |
| WY | $15.7B | 48.5× | 16.8× | 2.3× | -3.1% | 14.8% | 4.7% | 3.4% | 2.2% | 4.5× | 868 |
| KIM | $15.2B | — | 16.3× | 7.1× | 5.1% | — | 27.3% | 5.6% | 3.2% | 5.5× | 633 |
| NLY | $15.0B | 7.3× | — | — | — | — | — | 12.6% | 12.6% | — | 743 |
| LAMR | $15.0B | 25.6× | — | 6.6× | 2.7% | 67.0% | 25.9% | 57.3% | 13.2% | — | 655 |
| HST | $15.0B | 19.8× | — | 2.5× | 7.6% | — | 12.5% | 11.7% | 9.8% | — | 656 |
| MDRR | $13M | — | 17.9× | 1.2× | 6.8% | — | -23.0% | -25.3% | -3.9% | 14.9× | 8 |
Peers = companies sharing MDRR's sector (Real Estate) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.
EOD close · as of 2026-09-17
No standout strengths flagged.
Nothing notable to watch.
Where each multiple sits in its own 8-yr range · 26th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 8-yr history.
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
Watch the leverage lever — a chunk of ROE comes from the balance sheet.
What the company owes vs. what it holds
Year-by-year maturities aren't in SEC companyfacts (footnote-only), so this shows the debt/cash structure and net leverage instead.
Latest year: profit growth vs revenue growth
Profit and sales moved in opposite directions this year.
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 5.2 | 5.9 | 6.5 | — | — | — | — | — |
| SG&A | 1.8 | 3.2 | 3.2 | 5.7 | 4.1 | 4.7 | 9.9 | 12.3 |
| Operating Income | -16.2 | -15.1 | -61.9 | 7.1 | -12.7 | -9.7 | 38.3 | 5.3 |
| Income Tax | 0.8 | 0.0 | — | 0.0 | — | — | 0.0 | 0.0 |
| Net Income | -41.6 | -36.4 | -88.2 | -38.0 | -43.0 | -44.5 | 0.3 | -23.0 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on MDRR: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.