Mackenzie Realty Capital (NASDAQ:MKZR) Posts Quarterly Earnings Results

Mackenzie Realty Capital (NASDAQ:MKZR) announced its earnings results on Monday. The company reported ($3.38) earnings per share (EPS) for the quarter, FiscalAI reports. The business had revenue of $5.43 million for the quarter. Mackenzie Realty Capital had a negative net margin of 82.40% and a negative return on equity of 18.88%.

Mackenzie Realty Capital Price Performance

Mackenzie Realty Capital stock opened at $1.37 on Wednesday. The firm has a market capitalization of $3.09 million, a P/E ratio of -0.14 and a beta of -0.46. Mackenzie Realty Capital has a 1-year low of $0.83 and a 1-year high of $6.00. The company’s 50-day moving average is $1.44 and its 200 day moving average is $2.22.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut shares of Mackenzie Realty Capital from a “sell (e+)” rating to a “sell (e)” rating in a research report on Monday, September 21st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of “Sell”.

Insider Activity at Mackenzie Realty Capital

In related news, General Counsel Charles E. Patterson II purchased 23,400 shares of the firm’s stock in a transaction dated Monday, August 10th. The stock was purchased at an average price of $1.60 per share, with a total value of $37,440.00. Following the completion of the purchase, the general counsel owned 100,000 shares of the company’s stock, valued at approximately $160,000. The trade was a 30.55% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Robert E. Dixon purchased 23,400 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was purchased at an average price of $1.60 per share, with a total value of $37,440.00. Following the acquisition, the chief executive officer directly owned 100,000 shares of the company’s stock, valued at $160,000. This trade represents a 30.55% increase in their position. The SEC filing for this purchase provides additional information. Insiders purchased 100,200 shares of company stock worth $160,020 in the last 90 days. 6.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Mackenzie Realty Capital

An institutional investor recently raised its stake in Mackenzie Realty Capital stock. Concorde Asset Management LLC raised its stake in Mackenzie Realty Capital, Inc. (NASDAQ:MKZR) by 40.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 38,250 shares of the company’s stock after purchasing an additional 11,010 shares during the period. Concorde Asset Management LLC owned 1.69% of Mackenzie Realty Capital worth $139,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Mackenzie Realty Capital Company Profile

MacKenzie Realty Capital, Inc is a real estate investment trust focused on acquiring, owning and managing income-producing commercial real estate and real estate-related investments. The company seeks to provide investors with exposure to a diversified portfolio of properties and related assets.

Its activities may include investing in commercial properties across multiple real estate sectors, as well as selected real estate securities and other assets associated with the property market.