MacKenzie Realty Capital Inc. (NASDAQ:MKZR) shares jumped 21.37% to $1.59 in after-hours trading Wednesday, after the California-based real estate investment trust reported fiscal 2026 results and suspended its preferred share repurchase program.
The results announced are for the fiscal year ended June 30.
Revenue Dips, Losses Narrow
The revenue for the year was $20.01 million, down 9% from $22.06 million a year earlier.
Net operating loss narrowed 33% to $15.61 million. Net loss shrank 41% to $14.13 million, from $23.97 million.
CEO Robert Dixon attributed the revenue decline mainly to about $3.0 million of lease termination income recognized in fiscal 2025. He said results were “in line with our internal expectations.”
Buyback Pause Clears Path for Deal Talks
The Board said it paused the preferred share repurchase program to better respond to any strategic alternative brought by its financial advisor, Maxim Group LLC. Such options include reverse takeovers.
The company said issuing common stock in exchange for preferred shares has added selling pressure on its common shares. The Board believes that would make negotiating a deal harder.
MacKenzie said there is no assurance it will enter a strategic transaction. It will not provide further updates on the review except as required by law.
Trading Metrics, Technical Analysis
MacKenzie Realty Capital has a market capitalization of $3.63 million, a 52-week high of $6 and a 52-week low of $0.83.
The Relative Strength Index (RSI) of MKZR stands at 38.32.
The small-cap stock has fallen 73.37% over the past 12 months.
The stock is currently trading at about 9% of its annual range, meaning it is positioned near its 52-week low.
Price Action: MKZR closed the regular session on Wednesday at $1.31, down 4.37%, according to Benzinga Pro data.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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