The return to FFO/AFFO profitability and stabilization of Aurora are positive operational signals, but the micro-cap size ($4M) and prior negative stock reaction to filings suggest limited liquidity and high volatility. Monitor next quarter for sustained FFO growth and any capital raises or asset sales.
Price Chart
Executive Summary
MacKenzie Realty Capital (MKZR) reported Q1 2026 net revenues of $5.4M (+27% YoY) and returned to positive FFO ($308K) and AFFO ($538K) vs negative FFO/AFFO in Q1 2025. Net loss narrowed to $1.0M from $6.1M. The Aurora at Green Valley property is now stabilized at >90% leased. Despite the operational improvement, the company remains a micro-cap REIT with a $4M market cap and a history of negative stock performance following prior filings.
Key Financial Metrics
Key Facts
- Net revenues $5.4M, up 27% YoY from $4.3M
- Net loss narrowed to $0.99M from $6.1M YoY
- FFO turned positive at $308K vs -$3.2M YoY
- AFFO turned positive at $538K vs -$2.3M YoY
- Aurora at Green Valley stabilized and >90% leased
- Company borrowed $1M from Streeterville to buy CNL shares, realized $523K profit on merger with SNDA, repaid loan
Financial Impact
Revenue growth of $1.1M YoY; net loss improvement of $5.1M; FFO swing of +$3.5M
Risk Factors
- Micro-cap REIT with $4M market cap — low liquidity, high volatility
- Still reporting net loss; reliance on non-GAAP metrics for profitability narrative
- Small portfolio (13 properties) concentrated in multifamily and office — sector headwinds from office exposure
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3296102 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 2, 2026 24d ago | 8-K | $1.34 $1.35 | ▼ −0.84% | ▼ −0.16% | $1.13 (+15.97%) |
Sep 30, 2026 26d ago | Press Release | $1.38 $1.34 | ▲ +2.99% | ▲ +3.73% | $1.13 (+18.48%) |
Sep 30, 2026 26d ago | 8-K | $1.38 $1.34 | ▲ +2.99% | ▲ +3.73% | $1.13 (+18.48%) |
Aug 10, 2026 11w ago | Insider Cluster | $1.51 $1.52 | ▲ +0.66% | ▲ +0.41% | $1.13 (−25.50%) |
Aug 10, 2026 11w ago | Insider Cluster | $1.51 $1.52 | ▲ +0.66% | ▲ +0.41% | $1.13 (−25.50%) |
Aug 4, 2026 11w ago | Insider Cluster | $1.53 $1.50 | ▼ −1.96% | ▼ −1.80% | $1.13 (−26.47%) |
Jul 13, 2026 15w ago | 8-K | $1.71 $1.71 | · 0.00% | ▼ −0.40% | $1.13 (−34.21%) |
May 15, 2026 23w ago | 8-K | $2.35 $2.36 | ▲ +0.43% | ▲ +0.49% | $1.13 (−52.13%) |
May 15, 2026 23w ago | Press Release | $2.35 $2.36 | ▲ +0.43% | ▲ +0.49% | $1.13 (−52.13%) |
Apr 16, 2026 27w ago | 8-K | $3.74 $3.43 | ▼ −8.42% | ▼ −8.23% | $1.13 (−69.92%) |
US Market Status
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