Mackenzie Realty Capital, Inc. (NASDAQ:MKZR) Sees Large Drop in Short Interest

Mackenzie Realty Capital, Inc. (NASDAQ:MKZR) was the recipient of a large drop in short interest in the month of September. As of September 15th, there was short interest totaling 13,949 shares, a drop of 44.7% from the August 31st total of 25,208 shares. Based on an average trading volume of 7,870 shares, the short-interest ratio is presently 1.8 days. Approximately 0.7% of the company’s shares are sold short.

Analyst Ratings Changes

Separately, Weiss Ratings lowered shares of Mackenzie Realty Capital from a “sell (e+)” rating to a “sell (e)” rating in a research report on Monday, September 21st. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has an average rating of “Sell”.

Mackenzie Realty Capital Stock Up 5.3%

Shares of MKZR stock traded up $0.07 on Thursday, reaching $1.38. 96,819 shares of the company’s stock traded hands, compared to its average volume of 37,260. The company has a market capitalization of $3.82 million, a P/E ratio of -0.14 and a beta of -0.46. Mackenzie Realty Capital has a 12-month low of $0.83 and a 12-month high of $6.00. The business’s 50 day moving average price is $1.44 and its two-hundred day moving average price is $2.20. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.09 and a current ratio of 0.08.

Insider Buying and Selling

In other news, Treasurer Glen W. Fuller acquired 23,400 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The shares were acquired at an average price of $1.60 per share, with a total value of $37,440.00. Following the acquisition, the treasurer directly owned 100,000 shares in the company, valued at approximately $160,000. The trade was a 30.55% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Robert E. Dixon purchased 23,400 shares of the stock in a transaction on Monday, August 10th. The shares were bought at an average price of $1.60 per share, for a total transaction of $37,440.00. Following the acquisition, the chief executive officer owned 100,000 shares of the company’s stock, valued at approximately $160,000. The trade was a 30.55% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have purchased 100,200 shares of company stock valued at $160,020. 6.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

A hedge fund recently raised its position in Mackenzie Realty Capital stock. Concorde Asset Management LLC grew its holdings in Mackenzie Realty Capital, Inc. (NASDAQ:MKZR) by 40.4% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 38,250 shares of the company’s stock after buying an additional 11,010 shares during the period. Concorde Asset Management LLC owned approximately 1.69% of Mackenzie Realty Capital worth $139,000 as of its most recent filing with the Securities & Exchange Commission.

Mackenzie Realty Capital Company Profile

MacKenzie Realty Capital, Inc is a real estate investment trust focused on acquiring, owning and managing income-producing commercial real estate and real estate-related investments. The company seeks to provide investors with exposure to a diversified portfolio of properties and related assets.

Its activities may include investing in commercial properties across multiple real estate sectors, as well as selected real estate securities and other assets associated with the property market.