MacKenzie Realty Capital suspends preferred share repurchases

MacKenzie Realty Capital said on Sept. 30 that it reported net revenues of $20.01 million for the year ended June 30, 2026, down 9% from $22.06 million a year earlier. The company also said its net operating loss narrowed to $15.61 million from $23.46 million, while net loss fell to $14.13 million from $23.97 million.

For traders and other retail investors, the other notable change is on the capital-structure side: the board has temporarily suspended its preferred share repurchase program. MacKenzie said the move is meant to give it more room to react to any strategic alternative brought by its financial adviser, Maxim Group LLC.

The company said its issuance of common stock in exchange for preferred shares had created additional selling pressure on its common stock, and that the board believes this could make any potential strategic transaction harder to negotiate. MacKenzie said it continues to review strategic alternatives brought to it by Maxim and expects to reassess the repurchase program in due course.

Robert Dixon, MacKenzie’s chief executive officer and president, said the annual results were in line with internal expectations and that the company achieved meaningful reductions in net operating loss and net loss. He also said MacKenzie remains focused on executing its growth initiatives while maintaining financial discipline.

MacKenzie said there can be no assurance it will enter into any strategic transaction as a result of the review, and that it has no obligation to provide further updates except as required by law. The company, founded in 2013, is a West Coast-focused real estate investment trust and said its current portfolio includes interests in five multifamily properties, eight office properties and one multifamily development.