The return to FFO and AFFO profitability, combined with 27% revenue growth and a stabilized development property, marks a meaningful inflection point for this micro-cap REIT. Monitor the upcoming 10-Q for full balance sheet detail and any update on the remaining development pipeline. The $4M market cap suggests limited liquidity — position sizing should account for that.
Price Chart
Executive Summary
MacKenzie Realty Capital reported Q3 FY2026 (quarter ended March 31, 2026) results showing strong year-over-year improvement: net revenues rose 27% to $5.4M, net loss narrowed 84% to $1.0M, and the company returned to positive FFO ($308K) and AFFO ($538K) vs. negative results in the prior-year period. The Aurora at Green Valley development is now stabilized and over 90% leased. The filing also disclosed a profitable $522K arbitrage trade on CNL Healthcare/Sonida Senior Living merger shares, funded by a $1M loan that has been repaid.
Key Facts
- Net revenues of $5.4M for the quarter ended March 31, 2026, up 27% from $4.3M in the same period of 2025.
- Net loss narrowed 84% to $1.0M from $6.1M in the prior-year period.
- FFO turned positive at $308,040 vs. negative $3.2M in Q3 2025.
- AFFO turned positive at $537,514 vs. negative $2.3M in Q3 2025.
- Aurora at Green Valley development is now stabilized and over 90% leased.
- Company realized a $521,718 profit on a CNL Healthcare/Sonida Senior Living merger arbitrage trade, using a $1M loan that has been fully repaid.
Financial Impact
Revenue growth of 27% YoY to $5.4M, net loss reduction of 84% to $1.0M, and swing to positive FFO/AFFO from negative prior year.
Risk Factors
- Micro-cap REIT with $4M market cap — limited liquidity and high volatility.
- Company still reported a net loss of $1.0M, though sharply reduced.
- Portfolio concentrated in 13 properties plus 1 development; lack of diversification.
- Forward-looking statements about growth initiatives are not guaranteed.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001550913-26-000017 |
| Document: mxzr-20260515.htm | 0001550913-26-000017 |
| Document: 0001550913-26-000017-index-headers.html | 0001550913-26-000017 |
| Document: 0001550913-26-000017-index.html | 0001550913-26-000017 |
| Document: 0001550913-26-000017.txt | 0001550913-26-000017 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 2, 2026 25d ago | 8-K | $1.34 $1.35 | ▼ −0.84% | ▼ −0.16% | $1.12 (+16.34%) |
Sep 30, 2026 27d ago | Press Release | $1.38 $1.34 | ▲ +2.99% | ▲ +3.73% | $1.12 (+18.84%) |
Sep 30, 2026 27d ago | 8-K | $1.38 $1.34 | ▲ +2.99% | ▲ +3.73% | $1.12 (+18.84%) |
Aug 10, 2026 11w ago | Insider Cluster | $1.51 $1.52 | ▲ +0.66% | ▲ +0.41% | $1.12 (−25.83%) |
Aug 10, 2026 11w ago | Insider Cluster | $1.51 $1.52 | ▲ +0.66% | ▲ +0.41% | $1.12 (−25.83%) |
Aug 4, 2026 12w ago | Insider Cluster | $1.53 $1.50 | ▼ −1.96% | ▼ −1.80% | $1.12 (−26.80%) |
Jul 13, 2026 15w ago | 8-K | $1.71 $1.71 | · 0.00% | ▼ −0.40% | $1.12 (−34.50%) |
May 15, 2026 23w ago | 8-K | $2.35 $2.36 | ▲ +0.43% | ▲ +0.49% | $1.12 (−52.34%) |
May 15, 2026 23w ago | Press Release | $2.35 $2.36 | ▲ +0.43% | ▲ +0.49% | $1.12 (−52.34%) |
Apr 16, 2026 27w ago | 8-K | $3.74 $3.43 | ▼ −8.42% | ▼ −8.23% | $1.12 (−70.05%) |
US Market Status
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