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Robert E. Dixon, CEO and President of MacKenzie Realty Capital, Inc. (OTC:MKZR), acquired 10,000 shares of the company’s common stock on March 19, 2025. This insider purchase comes as the stock has declined nearly 14% in the past week and 63% over the last year, according to InvestingPro data. The shares were purchased at a price of $1.80 each, amounting to a total transaction value of $18,000. Following this acquisition, Dixon holds a total of 112,263 shares directly. Additionally, Dixon is indirectly associated with 9,935.45 shares held by MPF Successors, LP, in which he has an interest. The stock currently trades at just 0.36 times book value and offers an 11.4% dividend yield. InvestingPro analysis suggests the stock is undervalued, with 12 additional insights available to subscribers.
In other recent news, MacKenzie Realty Capital, Inc. has raised approximately $4.8 million through a registered direct offering and concurrent private placement. The company sold over 2.8 million shares of common stock, along with Series A and B common warrants that could lead to the purchase of an additional 4.2 million shares. The proceeds from this offering are intended for various corporate purposes, including capital expenditures and potential acquisitions. Additionally, MacKenzie Realty secured a $10 million line of credit with Patterson Real Estate Services, LP, an affiliate, to enhance its financial flexibility. This credit line, approved by the company’s Board of Directors, carries an interest rate of 10% per annum and is set to mature on June 1, 2026.
MacKenzie Realty also announced plans to update its stockholders via letters, addressing dividend payments and other company matters. The letters will be sent to Series A and B preferred stockholders and common stockholders, with the contents available in the company’s latest 8-K filing. Furthermore, MacKenzie Realty has amended its Articles of Amendment and Restatement and bylaws, following a Special Meeting of Stockholders. These amendments aim to update corporate governance and stockholder meeting procedures, aligning with Maryland General Corporation Law. The changes include adjustments to meeting requirements and voting procedures, reflecting MacKenzie Realty’s commitment to maintaining transparency and effective communication with its investors.
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