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Robert E. Dixon, CEO and President of MacKenzie Realty Capital, Inc. (OTC:MKZR), has acquired 20,000 shares of the company’s common stock, according to a recent filing with the Securities and Exchange Commission. The shares were purchased at $1.43 per share, amounting to $28,600. The purchase comes as the stock trades near its 52-week low of $1.05, having declined nearly 70% over the past year. According to InvestingPro analysis, the stock appears undervalued at current levels.
Following this transaction, Dixon’s direct ownership in the company increased to 231,512 shares. Additionally, through an indirect ownership by MPF Successors, LP, Dixon is deemed to have beneficial ownership of 9,935.45 shares. MPF Successors, LP holds a total of 55,692 shares of MacKenzie Realty Capital. The company currently offers an attractive dividend yield of 14%, though dividend growth has declined recently.
This move comes as part of Dixon’s ongoing involvement with the company, where he serves as a key executive. Investors often monitor insider transactions like these for potential insights into the company’s future prospects. InvestingPro subscribers can access detailed insider trading patterns and 12 additional analysis tips to make more informed investment decisions.
In other recent news, MacKenzie Realty Capital, Inc. announced a quarterly dividend of $0.05 per share, payable to shareholders on or about April 25, 2025. The company also raised approximately $4.8 million through a direct stock offering and private placement, selling over 2.8 million shares to a single institutional investor. Additionally, MacKenzie Realty secured a $10 million credit line from an affiliate, Patterson Real Estate Services, LP, to enhance its financial flexibility. The company has also communicated plans to update its preferred and common stockholders via letters, detailing dividend payments and other company matters. In governance updates, MacKenzie Realty amended its charter and bylaws, implementing changes approved by stockholders to align with Maryland law and corporate governance standards. The amendments include adjustments to stockholder meeting procedures and voting requirements. These developments underscore MacKenzie Realty’s ongoing efforts to maintain transparency with investors and strengthen its financial and operational strategies.
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