Mackenzie Realty Capital (NASDAQ:MKZR) Announces Earnings Results

Mackenzie Realty Capital (NASDAQ:MKZR) posted its quarterly earnings results on Monday. The company reported ($3.38) earnings per share for the quarter, FiscalAI reports. Mackenzie Realty Capital had a negative return on equity of 18.99% and a negative net margin of 90.30%.The company had revenue of $5.43 million for the quarter.

Mackenzie Realty Capital Stock Up 1.3%

Shares of NASDAQ:MKZR traded up $0.02 during midday trading on Monday, reaching $1.36. The company’s stock had a trading volume of 3,036 shares, compared to its average volume of 37,139. The business has a 50 day moving average price of $1.45 and a 200 day moving average price of $2.25. Mackenzie Realty Capital has a 1 year low of $0.83 and a 1 year high of $6.00. The firm has a market cap of $3.07 million, a price-to-earnings ratio of -0.22 and a beta of -0.46.

Insider Buying and Selling at Mackenzie Realty Capital

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

Institutional Trading of Mackenzie Realty Capital

A hedge fund recently raised its position in Mackenzie Realty Capital stock. Concorde Asset Management LLC lifted its stake in Mackenzie Realty Capital, Inc. (NASDAQ:MKZR) by 40.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,250 shares of the company’s stock after buying an additional 11,010 shares during the period. Concorde Asset Management LLC owned approximately 1.69% of Mackenzie Realty Capital worth $139,000 as of its most recent SEC filing.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded shares of Mackenzie Realty Capital from a “sell (e+)” rating to a “sell (e)” rating in a research report on Monday, September 21st. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has a consensus rating of “Sell”.

About Mackenzie Realty Capital

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.