MacKenzie Realty Capital, Inc.

Listed Company

MKZRCIK 0001550913NasdaqNon-AcceleratedSmaller ReportingReal Estate Investment TrustsMarylandFY ends Jun 30

Period

FY 2025

Revenue

$22.06M

Net Income

$-23.97M

Total Assets

$235.99M

Equity

$59.86M

Shares Out

1.97M

Op. Cash Flow

$-1.69M

Business

MacKenzie Realty Capital, Inc. is a real estate investment trust that acquires, owns, operates and invests primarily in commercial real estate and real estate-related securities. It acquires, renovates, develops and manages multifamily, office and other commercial properties, and purchases illiquid or non-traded real estate debt and equity securities, while offering common and preferred equity and related capital raising programs. The business operates through the Parent Company, an operating partnership, wholly owned and consolidated subsidiaries, joint ventures and taxable REIT subsidiaries. It focuses on opportunistic and value-add investments primarily in Western U.S. markets and distributes securities through public offerings, dividend reinvestment plans and at-the-market programs.

Summary from filing dated 2025-09-29

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-06-30	FY 2024 2024-06-30	FY 2023 2023-06-30	FY 2022 2022-06-30	FY 2020 2020-06-30
Rental, reimbursements and other property income	22	16	15	10	—
Depreciation and amortization	11	7	7	5	—
Interest expense	9	6	9	—	—
Property operating and maintenance	7	7	5	6	—
Asset management fees to related party (Note 8)	3	3	3	3	0
General and administrative	3	1	913,258	560,521	—
Professional fees	2	639,696	615,132	686,064	263,868
Administrative cost reimbursements to related party (Note 8)	669,855	756,733	726,000	609,600	680,000
Directors' fees	149,223	105,000	106,000	107,000	68,000
Transfer agent cost reimbursements to related party (Note 8)	6,145	66,267	92,000	106,401	80,000
Impairment loss	10	0	8	9	—
Total operating expenses	46	26	35	27	5
Operating loss	−23	−10	−20	−17	—
Dividend and distribution income from equity securities at fair value	74,837	581,030	535,199	2	—
Net unrealized gain (loss) on equity securities at fair value	49,407	−697,644	−2	1	—
Net income (loss) from equity method investments at fair value	−764,911	2	3	10	—
Net realized income (loss) from investments	132,434	−3	656,984	7	2
Net loss	−24	−11	−4	4	−12
Net income attributable to non-controlling interests	−2	−853,665	−405,478	285,294	—
Net income attributable to preferred stockholders Series A and B	−1	−1	−695,601	−56,929	—
Net loss attributable to common stockholders	−27	−13	−5	5	—
Net loss per share attributable to common stockholders, Basic (in dollars per share)	−18.66	−9.95	−0.36	0.34	−0.96
Net loss per share attributable to common stockholders, Diluted (in dollars per share)	−18.66	−9.95	—	—	—
Basic weighted average common shares outstanding (in shares)	1	1	13	13	12
Diluted weighted average common shares outstanding (in shares)	1	1	—	—	—

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-06-30	FY 2024 2024-06-30	FY 2023 2023-06-30	FY 2022 2022-06-30	FY 2021 2021-06-30
Land	44	43	37	32	10
Building, fixtures and improvements	193	171	132	64	19
Intangible lease assets	13	11	8	3	484,148
Less: accumulated depreciation and amortization	−26	−14	−7	−2	−595,915
Total real estate assets, net	225	211	171	97	29
Cash and cash equivalents	4	12	17	7	4
Restricted cash	328,239	1	898,238	1	0
Investments, at fair value	2	1	13	20	40
Equity method investments, at fair value	2	5	—	—	—
Investments income, rents and other receivables	2	1	1	1	2
Prepaid expenses and other assets	1	1	846,424	67,625	131,123
Total assets	236	233	213	183	139
Mortgage notes payable, net	120	114	91	68	—
Line of credit and notes payable, net	12	2	—	—	—
Deferred rent and other liabilities	2	1	1	443,014	196,145
Finance lease liabilities	2	2	628,420	0	—
Dividend payable	715,498	2	2	1	0
Accounts payable and accrued liabilities	5	2	1	3	59,512
Below-market lease liabilities, net	703,645	1	1	1	838,313
Due to related entities	167,764	171,619	156,364	214,094	—
Capital pending acceptance	13,411	297,000	538,600	85,000	0
Total liabilities	142	125	102	78	41
Common stock, $0.0001 par value, 80,000,000 shares authorized; 1,578,192.98and 1,330,257.30 shares issued and outstanding as of June 30, 2025 and June 30, 2024, respectively.	158	133	1,324	1,325	1,332
Additional paid-in capital *	145	137	134	122	120
Accumulated deficit	−85	−55	−35	−24	−23
Total stockholders' equity	60	82	99	98	97
Non-controlling interests	34	26	12	6	251,840
Total equity	94	108	111	104	97
Total liabilities and equity	236	233	213	183	139

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-06-30	FY 2024 2024-06-30	FY 2023 2023-06-30	FY 2022 2022-06-30	FY 2020 2020-06-30
Net (income) loss from equity method investments at fair value	767,066	−2	—	—	—
Straight-line rent	−154,952	−132,635	−63,543	−19,166	—
Depreciation and amortization	11	7	5	5	—
Amortization of deferred financing costs and debt mark-to-market	1	1	948,554	23,146	—
Accretion of above (below) market lease, net	−544,103	−339,767	−474,185	−164,695	—
Stock-based compensation	628,137	0	—	—	—
Investments income, rents and other receivables	−890,103	67,547	1	15,038	—
Due from related entities	0	17,000	401	0	—
Prepaid expenses and other assets	125,104	−401,222	−622,948	250,345	—
Deferred rent and other liabilities	50,398	−49,924	−796,083	115,744	—
Accounts payable and accrued liabilities	144,376	743,499	−2	2	−80,251
Due to related entities	26,097	−15,244	−504,520	70,359	−2
Net cash from operating activities	−2	−595,517	−7	5	−2
Proceeds from sale of investments	962,721	11	15	34	—
Investments in real estate assets	−19	−10	−19	−63	—
Purchase of investments	−1	−1	−2	−25	—
Return of capital distributions	0	938,296	13	22	—
Payment on contingent liability	0	−2	−1	0	—
Net cash from investing activities	−19	−1	15	−32	—
Borrowing under mortgage notes payable	48	3	3	34	—
Payments on mortgage notes payable	−49	−1	−9	−4	—
Borrowing under line of credit	10	0	—	—	—
Proceeds from notes payable	1	200,000	10,111	0	—
Payments on notes payable	−223,898	−368,164	−17,005	0	—
Payment of financing fees	−2	−876,500	0	−836,802	—
Acquisition cost of below market debt	0	−343,000	0	—	—
Dividends to common stockholders	−5	−5	−4	−3	—
Proceeds from issuance of common stock	4	0	—	—	—
Proceeds from issuance of pre-funded warrants	2	0	—	—	—
Payment on finance lease liabilities	−234,109	−104,416	−30,276	0	—
Payment of selling commissions and fees	−2	−899,372	−1	−705,770	—
Contributions by non-controlling interests holders	6	3	1,333	1	—
Distributions to non-controlling interests holders	−1	−834,804	−449,092	−12,183	—
Redemptions of common stock	−24	−1	−2	−1	—
Capital pending acceptance	−283,589	−241,600	453,600	85,000	—
Net cash from financing activities	12	−3	450,998	29	9
Net decrease in cash, cash equivalents and restricted cash	−9	−5	9	1	8
Cash paid for interest	7	5	6	2	—
Stock-based compensation	665,500	0	—	—	—
Operating Partnership Class A conversion to common stock	3,301	0	—	—	—
Capitalized construction in progress outstanding as accounts payable and accrued expenses	2	0	—	—	—
Issuance of common stock through reinvestment of dividends	0	1	2	1	—

Filings

Filing historySign up free to browse every 10-K, 10-Q, 8-K, and proxy this filer has submitted to the SEC.Sign up free · Upgrade to Pro

Material Events

Material EventsTrack every 8-K filing and material event — AI-summarized, timelined, and alertable.Sign up free · Upgrade to Pro

Insiders

Insider ActivitySee executive buy/sell windows and insider trade activity over rolling 30/90/365-day windows.Sign up free · Upgrade to Pro

Institutional Holders

Institutional HoldersSee which funds hold this stock and track position changes quarter over quarter.Sign up free · Upgrade to Pro