MacKenzie Realty Capital approves 1-for-10 reverse stock split

ORINDA, Calif. - MacKenzie Realty Capital, Inc. (NASDAQ:MKZR) announced Wednesday that its Board of Directors has approved a 1-for-10 reverse stock split aimed at increasing the company’s per share trading price to meet Nasdaq Capital Market’s minimum bid price requirement for continued listing. The announcement comes as the stock trades at $0.65, having declined 78% year-to-date according to InvestingPro data.

The reverse split, approved by the Board on July 3, will automatically convert ten current shares of common stock into one new share. The action will reduce the number of outstanding shares from approximately 15.8 million to 1.58 million shares. InvestingPro analysis reveals several challenges facing the company, with 8 additional key insights available to subscribers.

No fractional shares will be issued in connection with the split. Stockholders who would otherwise receive fractional shares will instead receive cash equal to the applicable fraction multiplied by the closing price of the company’s stock on Nasdaq immediately prior to the split.

Proportional adjustments will also be made to the exercise prices of MacKenzie’s outstanding stock warrants.

Stockholders of record will not need to take any action to receive post-split shares, while those owning shares through banks, brokers or other nominees will have their positions automatically adjusted according to those entities’ processes.

The effective date for the reverse stock split has not yet been determined and will be announced by the company at least two business days before implementation.

MacKenzie Realty Capital is a West Coast-focused REIT that invests primarily in real property, with a portfolio that currently includes interests in four multifamily properties, eight office properties, and two multifamily developments. The company, currently valued at $10.66 million, maintains a significant dividend yield of nearly 30% despite its financial health score being rated as weak by InvestingPro analysts.

The information in this article is based on a company press release statement.

In other recent news, MacKenzie Realty Capital, Inc. announced a change in its auditing firm due to a merger. The company’s previous auditor, Moss Adams LLP, merged with Baker Tilly US, LLP on June 3, 2025. As a result, Moss Adams resigned, and Baker Tilly was appointed as the new auditor by MacKenzie Realty’s Audit Committee. The audit reports from Moss Adams for the fiscal years ending June 30, 2024, and 2023 were free of adverse opinions or disclaimers. There were no disagreements on accounting principles or auditing procedures between MacKenzie Realty and Moss Adams during the relevant fiscal years and interim period. Additionally, no reportable events occurred that would necessitate disclosure under Regulation S-K. Before the merger, MacKenzie Realty had not consulted Baker Tilly on any matters requiring disclosure. This update was included in a recent SEC filing by MacKenzie Realty Capital, Inc.

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