Earnings ·
MacKenzie Realty reports $20M revenue, suspends share buyback to explore strategic alternatives
MKZRMacKenzie Realty Capital, Inc.
MacKenzie Realty Capital reported fiscal year 2026 results ending June 30, 2026, with net revenues of $20.01 million, a 9% decline from the prior year's $22.06 million. The company posted a net loss of $14.13 million, a 41% improvement compared to the $23.97 million loss in the previous period. Concurrently, the Board temporarily suspended its Preferred Share Repurchase Program to facilitate negotiations with financial advisor Maxim Group LLC regarding potential strategic alternatives, such as reverse takeovers. Management cited that issuing common stock for preferred shares created selling pressure that could hinder transaction discussions. MacKenzie Realty Capital operates as a West Coast-focused real estate investment trust investing in multifamily and office properties.