MacKenzie Realty Capital, Inc. (MKZR) AI Stock Analysis

• Market Cap: $9.01M
• Dividend Yield: 86.42%
• Average Volume (3M): 36.30K
• Price to Earnings (P/E): ―
• Beta (1Y): 27.76
• Revenue Growth: 26.56%
• EPS Growth: -20.97%
• Country: US
• Employees: N/A
• Sector: Real Estate
• Sector Strength: 53
• Industry: REIT - Diversified
• EPS (TTM): N/A
• Shares Outstanding: 1,852,481
• 10 Day Avg. Volume: 34,796
• 30 Day Avg. Volume: 36,301
• PEG Ratio: >-0.01
• Price to Book (P/B): 0.16
• Price to Sales (P/S): 0.44
• P/FCF Ratio: -5.81
• Enterprise Value/Market Cap: 19.48
• Enterprise Value/Revenue: 10.32
• Enterprise Value/Gross Profit: 24.69
• Enterprise Value/Ebitda: -680.26
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 43 Neutral
• Price Target: $4.50 ▲(25.00% Upside)

The score is held down primarily by very weak financial performance (large losses, declining revenue, negative operating/free cash flow) alongside elevated leverage. Technicals are only modestly improved in the short term while the longer-term trend remains down, and valuation is difficult to justify given a negative P/E and an unusually high dividend yield that reads as higher risk. Corporate actions around portfolio strategy and NAV disclosure provide some offsetting upside potential but are secondary to the current fundamentals.

Positive Factors

Apartment subsidiary & NAV disclosure

Creating a stand‑alone multifamily subsidiary with a disclosed NAV provides structural optionality to unlock asset value, enables targeted capital markets actions, and increases transparency on asset economics—supporting long‑term value realization and strategic financing flexibility.

Adviser fee structure reform

Replacing transaction fees and aligning compensation to AFFO reduces incentive misalignment and lowers recurring transaction costs. This structural change can improve cash retention, governance incentives, and operating leverage over time, strengthening shareholder economics and capital allocation.

Sizable asset base and portfolio diversification

A meaningful asset base across residential, commercial and industrial properties provides collateral value and multiple levers (asset sales, refinancing, joint ventures) to address cash needs. Diversification reduces idiosyncratic property risk and supports longer‑term strategic options.

Negative Factors

Deeply negative profitability and shrinking revenue

Sustained deep losses and sharply contracting revenues indicate structural operational challenges and an inability to cover fixed costs. Unless margins improve or assets are repositioned, negative earnings will impair reinvestment capacity and long‑term viability as a dividend‑oriented REIT.

Persistent negative operating and free cash flow

Ongoing cash burn forces dependence on external financing or asset dispositions to fund operations and distributions. For a REIT, persistent negative cash flow undermines the ability to maintain dividends, execute developments, or sustain portfolio upkeep without dilutive or costly capital actions.

Elevated leverage and weak returns on equity

High debt relative to equity increases refinancing and interest coverage risk and magnifies downturn impacts on shareholders. Combined with severely negative ROE, leverage suggests capital is not generating returns, restricting strategic flexibility and raising the likelihood of asset sales or restructuring.

MacKenzie Realty Capital, Inc. Business Overview & Revenue Model

Company Description

MacKenzie Realty Capital, Inc. (MKZR) is a publicly traded real estate investment trust (REIT) focused on investing in a diversified portfolio of real estate assets, including residential, commercial, and industrial properties. The company aims to generate long-term value for its shareholders through strategic acquisitions, property management, and value-added development projects. MKZR leverages its expertise in real estate markets to identify and capitalize on investment opportunities, delivering attractive returns while maintaining a commitment to sustainable practices.

How the Company Makes Money

MacKenzie Realty Capital generates revenue primarily through rental income from its portfolio of properties, which includes leasing residential units, commercial spaces, and industrial facilities. Additionally, the company may earn income from property management fees and service charges related to the management of its assets. A significant portion of its earnings is derived from capital appreciation of its real estate holdings as the value of properties increases over time. The company may also engage in strategic partnerships with local real estate firms and developers to enhance its investment capabilities and expand its portfolio, contributing further to its revenue streams.

MacKenzie Realty Capital, Inc. Financial Statement Overview

Summary

MacKenzie Realty Capital, Inc. demonstrates strong revenue growth but faces significant challenges in profitability and cash flow management. The high leverage and negative return on equity suggest financial instability, while negative operating cash flows indicate potential liquidity issues. The company needs to focus on improving operational efficiency and managing debt levels to enhance financial health.

Income Statement

MacKenzie Realty Capital, Inc. has shown significant revenue growth over the years, with a 62.4% increase in the latest period. However, the company struggles with profitability, as indicated by negative net profit margins and EBIT margins. The gross profit margin has also turned negative, reflecting challenges in managing costs relative to revenue.

Balance Sheet

The company's balance sheet shows a high debt-to-equity ratio of 2.26, indicating significant leverage. Return on equity is negative, reflecting ongoing losses. The equity ratio is relatively low, suggesting a reliance on debt financing, which could pose risks if not managed effectively.

Cash Flow

Cash flow analysis reveals a positive free cash flow growth rate, but operating cash flow remains negative, indicating challenges in generating cash from operations. The free cash flow to net income ratio is stable at 1.0, but the operating cash flow to net income ratio is negative, highlighting inefficiencies in cash generation.

Breakdown	TTM	Dec 2025	Dec 2023	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	17.01M	22.06M	15.11M	15.74M	10.37M	4.48M
Gross Profit	7.11M	-7.39M	3.07M	5.99M	1.49M	-1.46M
EBITDA	-258.04K	5.84M	8.68M	2.05M	11.18M	1.80M
Net Income	-22.19M	-23.97M	-4.10M	-12.08M	4.56M	264.16K
Balance Sheet
Total Assets	228.96M	235.99M	213.16M	233.09M	182.56M	138.55M
Cash, Cash Equivalents and Short-Term Investments	4.85M	3.79M	17.24M	11.85M	7.40M	4.83M
Total Debt	142.68M	137.27M	94.94M	118.50M	69.43M	39.53M
Total Liabilities	151.01M	142.45M	102.15M	125.14M	78.34M	41.19M
Stockholders Equity	56.73M	59.86M	98.91M	82.36M	97.85M	97.11M
Cash Flow
Free Cash Flow	-4.35M	-1.69M	-6.62M	-595.52K	4.62M	970.78K
Operating Cash Flow	-4.35M	-1.69M	-6.62M	-595.52K	4.62M	970.78K
Investing Cash Flow	-15.02M	-19.12M	2.36M	-1.30M	-32.16M	-21.22M
Financing Cash Flow	12.69M	11.85M	451.00K	-3.17M	28.79M	13.85M

MacKenzie Realty Capital, Inc. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 3.60
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MKZR, the sentiment is Positive. The current price of 3.6 is below the 20-day moving average (MA) of 4.31, below the 50-day MA of 4.24, and below the 200-day MA of 6.69, indicating a neutral trend. The MACD of 0.14 indicates Negative momentum. The RSI at 58.89 is Neutral, neither overbought nor oversold. The STOCH value of 35.86 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for MKZR.

MacKenzie Realty Capital, Inc. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
MDV	58 Neutral	$151.25M	-54.48	0.37%	8.15%	-0.59%	-160.22%
MDRR	48 Neutral	$26.87M	-7.30	-18.66%	2.06%	-0.05%	-150.66%
MKZR	43 Neutral	$9.01M	-0.32	-33.51%	86.42%	26.56%	-20.97%
SQFT	41 Neutral	$4.66M	-0.42	-26.78%	―	-2.79%	72.36%
GIPR	39 Underperform	$4.05M	-0.39	-904.27%	―	-4.77%	23.08%

MacKenzie Realty Capital, Inc. Corporate Events

MacKenzie Realty Capital Declares Quarterly Series A Dividends

On January 15, 2026, MacKenzie Realty Capital, Inc. informed its Series A, B and C preferred stockholders that the board had approved regular dividends for the quarter ending March 31, 2026, and detailed the payment of the quarterly Series A preferred share dividend to shareholders of record as of December 31, 2025. Series A investors admitted by October 1, 2025 will receive $0.375 per share (a 6% annualized rate), with proportionally reduced amounts for those admitted on November 1 and December 1, while an additional Series A dividend of $0.125 per month has been approved for holders of record on January 31, February 28 and March 31, 2026, payable in April. The company also released its 2025 per‑share dividend allocation for federal income tax purposes, showing that the $1.50 per share paid over 2025 to Series A holders is treated entirely as a return of capital, information that helps investors and their tax advisers understand the income characterization of these distributions and underscores MRC’s ongoing commitment to providing predictable cash flows to preferred shareholders.

The most recent analyst rating on (MKZR) stock is a Sell with a $4.00 price target. To see the full list of analyst forecasts on MacKenzie Realty Capital, Inc. stock, see the MKZR Stock Forecast page.

MacKenzie Realty Amends ATM Equity Offering Agreement

On January 7, 2026, MacKenzie Realty Capital, Inc. amended its existing at-the-market equity offering arrangement with Maxim Group LLC, under which the company may sell up to $20 million of its common stock from time to time. The amendment sets new termination triggers for the distribution agreement, specifying that it will end upon the earlier of the full issuance and sale of the authorized common shares, a 15-day written notice of termination by either party, or July 15, 2027, with any share sales conducted under the company’s already effective shelf registration statement, providing a structured framework for ongoing capital raising activities.

The most recent analyst rating on (MKZR) stock is a Sell with a $4.50 price target. To see the full list of analyst forecasts on MacKenzie Realty Capital, Inc. stock, see the MKZR Stock Forecast page.

MacKenzie Realty Forms Apartment Subsidiary, Sets Initial NAV

On January 1, 2026, MacKenzie Realty Capital, Inc. contributed all of its multifamily assets and a development project to a new, wholly owned subsidiary, MacKenzie Apartment Communities, Inc., establishing MAC as a stand-alone vehicle focused on developing and owning West Coast multifamily properties while remaining entirely owned by MacKenzie. As of January 8, 2026, MAC’s board set an initial estimated net asset value of $18.10 per share, based on March 31, 2025 appraisals of four stabilized properties and construction cost for the newly built Aurora at Green Valley, with a disclosed valuation range of roughly $16.46 to $19.95 per share, while emphasizing that this NAV is a point-in-time estimate subject to market shifts and may differ from any eventual trading or transaction prices, leaving MacKenzie shareholders with potential optionality over future capital-raising or structural moves involving the new subsidiary.

The most recent analyst rating on (MKZR) stock is a Hold with a $4.00 price target. To see the full list of analyst forecasts on MacKenzie Realty Capital, Inc. stock, see the MKZR Stock Forecast page.

MacKenzie Realty Capital Revises Advisory Management Fee Structure

On December 29, 2025, MacKenzie Realty Capital, Inc.’s board unanimously approved, effective January 1, 2026, an amendment to its advisory management agreement with MacKenzie Real Estate Advisers, LP that revises the firm’s fee structure. The changes set a base management fee at 1.25% of gross assets under management (excluding depreciation and amortization), replace the subordinated incentive fee with a quarterly bonus management fee equal to 5% of adjusted funds from operations, eliminate the acquisition fee, and establish a rolling five-year term with specified fees for non-renewal or termination without cause; unlike many non-traded and smaller public REIT peers, the company will no longer pay acquisition, debt financing, or disposition fees to its adviser, potentially lowering transaction-related costs and altering incentives for both the adviser and shareholders.

The most recent analyst rating on (MKZR) stock is a Hold with a $4.00 price target. To see the full list of analyst forecasts on MacKenzie Realty Capital, Inc. stock, see the MKZR Stock Forecast page.

MacKenzie Realty Capital Reviews Multi-Family Portfolio Strategy

On December 12, 2025, MacKenzie Realty Capital announced a strategic review of its multi-family portfolio to enhance shareholder value. The company believes the net asset value of this portfolio significantly exceeds its market capitalization and is exploring options to align its share price more closely with the intrinsic value of its assets.

The most recent analyst rating on (MKZR) stock is a Hold with a $3.50 price target. To see the full list of analyst forecasts on MacKenzie Realty Capital, Inc. stock, see the MKZR Stock Forecast page.

MacKenzie Realty Capital Reports Q1 2025 Financial Results

On November 18, 2025, MacKenzie Realty Capital reported its financial results for the first quarter ending September 30, 2025. The company experienced a decrease in net revenues by 8.3% compared to the same period in 2024, while its net operating loss and net loss both showed significant reductions. The Aurora at Green Valley project is now over 50% leased, with construction completed, indicating positive leasing activity. Despite the decline in revenue, the company is optimistic about achieving funds from operations profitability in the coming year, with a focus on growth initiatives and financial discipline.

The most recent analyst rating on (MKZR) stock is a Hold with a $5.00 price target. To see the full list of analyst forecasts on MacKenzie Realty Capital, Inc. stock, see the MKZR Stock Forecast page.

MacKenzie Realty Capital Holds Annual Stockholder Meeting

On November 17, 2025, MacKenzie Realty Capital, Inc. held its annual meeting of stockholders where two proposals were on the agenda. The first proposal involved electing four directors to serve until the 2026 annual meeting, and all nominees were successfully elected. The second proposal was to ratify Baker Tilly, LLP as the independent registered public accounting firm for the fiscal year ending June 30, 2026, which was also approved by the stockholders.

The most recent analyst rating on (MKZR) stock is a Hold with a $5.00 price target. To see the full list of analyst forecasts on MacKenzie Realty Capital, Inc. stock, see the MKZR Stock Forecast page.