MKZR · MacKenzie Realty Capital, Inc.

MacKenzie Realty Capital's third fiscal quarter ended March 31, 2026, showed significant improvement across key financial metrics, driven by revenue growth to $5.4 million, a 27% increase from $4.3 million in the prior year period, reflecting stronger operational performance in its West Coast-focused REIT portfolio of multifamily and office properties. The net operating loss narrowed to $2.5 million from $5.8 million, a 57% reduction, while the GAAP net loss improved dramatically to $1.0 million from $6.1 million, an 84% decrease. This turnaround is highlighted by the return to positive non-GAAP measures: FFO of $308,040 versus a $3.2 million loss last year, and AFFO of $537,514 compared to a $2.3 million loss, after adjustments for depreciation ($2.1 million), unrealized investment gains ($0.8 million), straight-line rent, below-market leases, and debt-related items. A key operational milestone was the stabilization of Aurora at Green Valley development, now over 90% leased, supporting revenue growth. Additionally, the company realized a $521,718 profit from a strategic investment in CNL Healthcare Properties shares purchased for $1,000,814 using a $1 million Streeterville loan, which was repaid after the merger with Sonida Senior Living yielded $1,562,125 in cash and shares. CEO Robert Dixon noted results aligned with expectations, emphasizing FFO/AFFO profitability, revenue growth, and focus on growth initiatives with financial discipline for long-term value. No forward guidance was provided, but forward-looking statements reference financial health and growth prospects, subject to risks in SEC filings. These results signal stabilizing operations and improved profitability for investors.