Bullish indicating open at $55-$60, IPO prices at $37
Robert E. Dixon, CEO and President of MacKenzie Realty Capital, Inc. (OTC:MKZR), recently acquired 2,263 shares of the company’s common stock. The purchase, which took place on March 11, 2025, was made at an average price of $1.9168 per share, totaling approximately $4,337. According to InvestingPro data, this insider buying comes as the stock appears undervalued, with management actively repurchasing shares despite a 58% decline over the past year.
Following this transaction, Dixon directly owns 82,263 shares of MacKenzie Realty Capital. Additionally, he holds an indirect interest in 9,935.45 shares through MPF Successors, LP, a partnership in which he has a stake. This brings his total beneficial ownership to a significant level in the $28.12M market cap company, which currently offers a substantial 9.95% dividend yield and has achieved 57% revenue growth in the last twelve months.
In other recent news, MacKenzie Realty Capital, Inc. has announced several key developments. The company secured approximately $4.8 million through a registered direct offering and concurrent private placement, selling over 2.8 million shares of common stock to a single institutional investor. This offering, expected to close by March 2025, includes Series A and B warrants that could lead to the purchase of an additional 4.2 million shares. Additionally, MacKenzie Realty has entered into a $10 million credit line agreement with Patterson Real Estate Services, LP, providing the company with increased financial flexibility at an interest rate of 10% per annum.
The company has also amended its Articles of Amendment and Restatement and bylaws following a Special Meeting of Stockholders. These changes include modifications to corporate governance and stockholder meeting procedures, aligning with Maryland General Corporation Law. MacKenzie Realty plans to update its stockholders through letters addressing dividend payments and other company affairs, with communications set to be dispatched soon. These updates reflect MacKenzie Realty’s strategic efforts to enhance its financial position and maintain transparency with investors.
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