MacKenzie Realty Capital, Inc. MKZR
MacKenzie, founded in 2013, is a West Coast-focused REIT that intends to invest at least 80% of its total assets in real property, and up to a maximum of 20% of its total assets in illiquid real estate securities. We intend for the real property portfolio to be approximately 50% multifamily and 50% boutique class A office. The current portfolio includes interests in 5 multifamily properties and 8 office properties plus 1 multifamily development.
Snapshot
Reported FFO / AFFO / leverage are from the Q3 2026 earnings release (filed 2026-05-15) — 8-K, EX-99.1.
Yield uses the latest declared dividend, annualized (latest regular payout × frequency; special/liquidating distributions excluded) — an announced-but-not-yet-declared change isn't reflected until it has an ex-date. FFO, AFFO and Net debt / Adj. EBITDA are the company's reported figures from its latest earnings 8-K. Price/OCF and payout use GAAP operating cash flow. NAV premium and credit ratings have no free source yet. See Methodology.
Balance sheet (latest FY: 2025)
Debt-maturity ladder, fixed/floating split, secured/unsecured and coverage ratios come from the supplemental — not yet ingested.
Financial history
| FY | Revenue | Net income | D&A | EBITDA | Op. cash flow |
|---|---|---|---|---|---|
| 2025 | $22.06M | $-25.92M | $11.43M | $-4.01M | $-1.69M |
| 2024 | $15.74M | $-12.08M | $7.15M | $2.05M | $-595.52K |
| 2023 | $15.11M | $-4.10M | $5.27M | $8.68M | $-6.62M |
| 2022 | $10.37M | $4.56M | $4.54M | $11.18M | $4.62M |
| 2021 | $5.98M | $264.16K | $2.19M | $3.08M | $970.78K |
| 2020 | $8.73M | $-11.73M | $0.00 | $3.47M | $-1.73M |
Dividends
| Ex-date | Record | Payment | Declared | Amount | Freq. |
|---|---|---|---|---|---|
| 2025-03-31 | 2025-03-31 | 2025-04-25 | 2025-03-20 | $0.05 | Quarterly |
| 2024-12-31 | 2024-12-31 | 2025-01-24 | 2024-12-17 | $0.05 | Quarterly |
| 2024-09-30 | 2024-09-30 | 2024-10-31 | 2024-09-20 | $0.12 | Quarterly |
| 2024-06-28 | 2024-06-30 | 2024-07-26 | — | $0.12 | Quarterly |
| 2023-09-28 | 2023-09-30 | 2023-10-30 | — | $0.12 | Quarterly |
Coverage (payout of operating cash flow): -17.34%. Tax-character split (ordinary / 199A / capital gain / return of capital) — not disclosed (requires the annual allocation release).
Same-store NOI, occupancy, leasing/WALT, top tenants, external-manager fees, development pipeline and (for non-traded vehicles) share-class fees, redemption/gating and NAV methodology are planned modules sourced from supplementals and prospectuses.