Logo

MKZR

MacKenzie Realty Capital, Inc.

MKZR

MacKenzie Realty Capital, Inc. • NASDAQ
$4.12 ▲ 1.73% (+0.07)
Market Cap $7.29 M
52w High $50.00
52w Low $3.86
Dividend Yield 1.00%
P/E -0.28
Volume 6.48K
Outstanding Shares 1.77M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q1-2026 $0 ▼ $6.139M ▼ $-4.086M ▲ 0% ▲ $-2.2 ▲ $130.431K ▼
Q4-2025 $4.762M ▲ $32.959M ▲ $-6.631M ▼ -139.252% ▲ $-44.38 ▼ $722.23K ▲
Q3-2025 $4.274M ▼ $7.351M ▼ $-6.545M ▼ -153.154% ▼ $-4.7 ▼ $-796.599K ▼
Q2-2025 $7.975M ▲ $10.015M ▲ $-4.929M ▲ -61.811% ▲ $-3.9 ▲ $-314.097K ▲
Q1-2025 $4.952M $9.667M $-7.81M -157.712% $-6.1 $-3.236M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q1-2026 $4.854M ▲ $228.959M ▼ $151.009M ▲ $56.726M ▼
Q4-2025 $4.116M ▼ $235.992M ▼ $142.451M ▲ $59.859M ▼
Q3-2025 $5.144M ▼ $237.142M ▲ $139.221M ▲ $66.651M ▼
Q2-2025 $6.143M ▼ $236.359M ▼ $138.623M ▼ $68.325M ▼
Q1-2025 $10.693M $243.534M $141.5M $73.445M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q1-2026 $-4.086M ▲ $-2.02M ▼ $-4.215M ▼ $7.4M ▲ $1.165M ▲ $-2.02M ▼
Q4-2025 $-6.631M ▼ $-1.637M ▲ $-1.867M ▲ $2.164M ▼ $-1.34M ▲ $-1.637M ▲
Q3-2025 $-6.093M ▼ $-2.57M ▼ $-6.388M ▼ $7.123M ▲ $-1.467M ▲ $-2.57M ▼
Q2-2025 $-4.458M ▲ $1.872M ▲ $-2.552M ▲ $-3.997M ▼ $-4.676M ▼ $1.872M ▲
Q1-2025 $-7.408M $644.359K $-5.327M $3.573M $-1.109M $644.359K

Five-Year Company Overview

Income Statement

Income Statement MacKenzie Realty Capital is still operating at a very small scale with a history of thin revenue and uneven results. Over the last few years, revenue has been modest and fairly flat, while operating performance has tilted more clearly into loss territory recently. Profitability has slipped from roughly break‑even to consistent net losses, and earnings per share have been highly volatile and now firmly negative, influenced in part by the reverse stock split. Overall, the income statement shows a niche REIT that has not yet converted its strategy into steady, dependable profits.

Balance Sheet

Balance Sheet The balance sheet is compact and somewhat stretched. Total assets have grown gradually, but this has been funded heavily with debt rather than retained equity. Equity has edged down, suggesting cumulative losses and limited internal capital. Cash on hand is very thin, meaning the company does not appear to carry a large liquidity buffer. Debt has risen over time, so leverage has increased, leaving less room for error if investments underperform or financing conditions tighten.

Cash Flow

Cash Flow Cash flow from operations has hovered around breakeven, with no clear trend of strong, recurring cash generation. Free cash flow looks similarly flat, helped by very low capital spending but constrained by the small size of the portfolio. This pattern suggests the company is not yet self‑funding in a robust way and likely depends on external capital or financing to support its strategy and balance sheet. The absence of heavy investment spending also implies that growth is being pursued more through financial structuring and acquisitions than through large physical development projects.

Competitive Edge

Competitive Edge MacKenzie’s edge is less about scale and more about specialization. It focuses on a niche corner of real estate: discounted and illiquid securities, especially non‑traded REITs and value‑add properties. Its strengths are its long experience in this niche, a proprietary database of deals, and strong industry relationships that help source opportunities and financing. This creates a meaningful but narrow moat—strong within its specialty, but not broadly diversified. On the risk side, the company is small, more leveraged, and concentrated in a specialized strategy, which can magnify both upside and downside depending on market conditions and execution quality.

Innovation and R&D

Innovation and R&D Innovation at MacKenzie is strategic rather than technological. The firm’s “R&D” is essentially its investment process: analyzing opaque, illiquid real estate securities, running tender offers for non‑traded REITs, and using its database and relationships to find discounted assets. Recent moves—like securing dedicated financing to buy non‑traded REIT shares—show it doubling down on this specialty. The key watchpoints are whether this expertise can reliably translate into higher cash flows and profits, and whether the company can innovate in risk management and capital structure to offset its current leverage and earnings pressure.

Summary

MacKenzie Realty Capital is a small, niche REIT built around a specialized strategy in discounted and illiquid real estate securities rather than traditional large‑scale property ownership. Its competitive advantage lies in experience, data, and relationships, not in technology or size. Financially, the picture is mixed: modest revenue, recent and recurring losses, a thin equity cushion, rising leverage, and limited cash. Cash flows are near flat, suggesting the business is still in a fragile phase where execution and financing terms matter a lot. The story is essentially about whether the company can turn a distinctive, focused strategy into consistent, positive earnings and stronger cash generation while safely managing its leverage and balance sheet constraints.

NEWS

November 18, 2025 · 3:07 PM UTC

MacKenzie Realty Capital Reports First Quarter 2026 Financial Results and Aurora Lease-up

Read more

October 13, 2025 · 1:54 PM UTC

MacKenzie Realty Capital Announces Starwood REIT Tender Offer, Adviser Stock Purchases, and Aurora Leasing Update

Read more

September 30, 2025 · 9:15 AM UTC

MacKenzie Realty Capital Reports FY 2025 Financial Results and Announces Completion of Development

Read more