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

Mackenzie Realty Capital, Inc. (NASDAQ:MKZR) was the target of a significant decrease in short interest in the month of October. As of October 15th, there was short interest totaling 2,700 shares, a decrease of 46.0% from the September 30th total of 5,000 shares. Currently, 0.2% of the shares of the stock are short sold. Based on an average daily volume of 50,500 shares, the days-to-cover ratio is presently 0.1 days. Based on an average daily volume of 50,500 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.2% of the shares of the stock are short sold.

Insiders Place Their Bets

In other news, General Counsel Charles E. Patterson II bought 14,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 2nd. The stock was acquired at an average price of $5.06 per share, with a total value of $70,840.00. Following the completion of the purchase, the general counsel directly owned 85,855 shares of the company’s stock, valued at $434,426.30. This represents a 19.48% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Portfolio Manager Christine Elizabeth Simpson bought 14,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 2nd. The shares were purchased at an average cost of $5.06 per share, with a total value of $70,840.00. Following the purchase, the portfolio manager directly owned 85,855 shares of the company’s stock, valued at approximately $434,426.30. This represents a 19.48% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have acquired 486,235 shares of company stock valued at $2,309,682. Corporate insiders own 6.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Clarity Capital Partners LLC bought a new stake in shares of Mackenzie Realty Capital in the first quarter valued at approximately $55,000. Pineridge Advisors LLC bought a new stake in shares of Mackenzie Realty Capital during the first quarter valued at approximately $29,000. Brookwood Investment Group LLC bought a new stake in shares of Mackenzie Realty Capital during the first quarter valued at approximately $34,000. Arkadios Wealth Advisors bought a new stake in shares of Mackenzie Realty Capital during the first quarter valued at approximately $54,000. Finally, Armistice Capital LLC bought a new stake in shares of Mackenzie Realty Capital during the first quarter valued at approximately $2,169,000.

Mackenzie Realty Capital Stock Performance

Shares of NASDAQ MKZR opened at $4.85 on Friday. The stock has a market cap of $8.58 million and a price-to-earnings ratio of -0.33. The business has a 50 day simple moving average of $5.52 and a 200 day simple moving average of $7.22. Mackenzie Realty Capital has a 52 week low of $3.89 and a 52 week high of $55.00.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Mackenzie Realty Capital in a research report on Tuesday, October 14th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Mackenzie Realty Capital presently has a consensus rating of “Sell”.

About Mackenzie Realty Capital

MacKenzie Realty Capital Inc is a REIT which focused on investing in multifamily housing and office real estate properties located principally in the United States. MacKenzie Realty Capital Inc is based in ORINDA, Calif.