Bullish indicating open at $55-$60, IPO prices at $37
In a recent transaction, Robert E. Dixon, CEO and President of MacKenzie Realty Capital, Inc. (NYSE:MKZR), purchased 10,000 shares of the company’s common stock. The acquisition was made on March 18, 2025, at a price of $1.85 per share, totaling $18,500. Following this transaction, Dixon’s direct ownership in the company increased to 102,263 shares. The insider purchase comes as the stock trades near $1.76, down over 63% in the past year. The company currently offers an attractive 11.36% dividend yield, though InvestingPro analysis indicates the stock is currently undervalued.
Additionally, Dixon has an indirect interest in 9,935.45 shares through MPF Successors, LP, a partnership in which he holds an interest. This indirect ownership is part of a larger holding by MPF Successors, LP, which owns 55,692 shares of MacKenzie Realty Capital. With a market capitalization of $26.3 million, the company’s overall financial health score is rated as ’Weak’ by InvestingPro, which offers 12 additional investment insights for subscribers.
In other recent news, MacKenzie Realty Capital has raised approximately $4.8 million through a registered direct offering and concurrent private placement. This financial move involves the sale of over 2.8 million shares of common stock, with Series A and B warrants potentially allowing the purchase of an additional 4.2 million shares. The proceeds are intended for various corporate purposes, such as capital expenditures and potential acquisitions. Additionally, MacKenzie Realty has secured a $10 million line of credit with Patterson Real Estate Services, LP, at an interest rate of 10% per annum, to enhance its financial flexibility.
MacKenzie Realty also announced it will communicate with its stockholders through letters addressing dividend payments and other company affairs. These letters are part of the company’s efforts to maintain transparency and keep investors informed. In another development, MacKenzie Realty has amended its charter and bylaws following a Special Meeting of Stockholders, with changes aimed at updating corporate governance and aligning with Maryland General Corporation Law. These amendments include adjustments to stockholder meeting procedures and voting requirements. These recent developments reflect MacKenzie Realty’s strategic financial planning and governance updates.
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