0001140361-26-005766
SEC filingMacKenzie Realty Capital, Inc. reported a net loss of $4.5 million for Q2 2026, with a net loss attributable to common stockholders of $5.5 million, equating to a loss per share of $3.00 (basic and diluted). The company generated $4.6 million in rental and property income, but this was offset by total operating expenses of $9.3 million, resulting in an operating loss of $4.7 million. Key expenses included depreciation and amortization ($2.7 million), interest expense ($2.7 million), and property operating costs ($2.3 million). Cash flow from operations was negative $3.6 million, while financing activities provided $10.5 million, primarily from new borrowings. The balance sheet shows total assets of $238.1 million, liabilities of $152.0 million, and total equity of $86.0 million as of December 31, 2025.
MacKenzie Realty Capital, Inc. reported a net loss of $4.5 million for the quarter ended December 31, 2025 (Q2 2026). The net loss attributable to common stockholders was deeper at $5.5 million, resulting in a loss per share of $3.00 for both basic and diluted calculations. The company's operating performance was weak, with an operating loss of $4.7 million driven by $9.3 million in total operating expenses against $4.6 million in rental, reimbursements, and other property income. The balance sheet position shows total assets of $238.1 million, supported by net real estate assets of $215.3 million and cash and equivalents of $4.3 million. Total liabilities stood at $152.0 million, leading to total equity of $86.0 million.
The company's revenue for the quarter was solely derived from its real estate operations, categorized as 'Rental, reimbursements and other property income,' which totaled $4.6 million. This figure is also reported under the 'Operating Segments - Real Estate Properties Segment,' confirming it as the company's primary and only disclosed revenue stream for the period. No other revenue sources, such as service income or other operating revenues, are reported in the provided data. The document does not provide a breakdown of this revenue by property type, tenant, or geography, nor does it offer comparative figures from a prior period (QoQ) or the same quarter in the prior year (YoY) to assess growth trends.
The company reported negative profitability across key metrics. With revenue of $4.6 million and total operating expenses of $9.3 million, the operating loss was $4.7 million, resulting in a negative operating margin. The cost structure was dominated by depreciation and amortization ($2.7 million), interest expense ($2.7 million), and property operating and maintenance costs ($2.3 million). Other significant expenses included asset management fees to a related party ($892,000) and general and administrative costs ($396,000). The net loss margin, calculated from the $4.5 million net loss, was also deeply negative relative to the revenue base. No prior period margin data is provided for comparison.
Cash flow from operating activities was negative $3.6 million, primarily due to the net loss of $4.5 million, adjusted for non-cash items like $4.9 million in depreciation and amortization. Investing activities used $6.2 million in cash, mainly for $7.3 million in investments in real estate assets, partially offset by $1.7 million from the sale of investments. Financing activities generated $10.5 million, largely from $9.9 million in borrowings under mortgage notes payable, leading to a net increase in cash of $701,000. The balance sheet shows a leveraged position with total liabilities of $152.0 million against equity of $86.0 million. Key assets include net real estate assets of $215.3 million and a total cash position (including restricted cash) of approximately $4.7 million.
The provided financial data and document content do not include any management discussion, forward-looking statements, guidance, or disclosed strategic priorities for future periods. There is no mention of expected revenue trends, planned investments, dividend policies, or specific risk factors beyond the historical figures presented in the financial statements. Therefore, based solely on the furnished 10-Q filing excerpt, no outlook, management guidance, or future-oriented analysis can be provided.