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

Mackenzie Realty Capital, Inc. (NASDAQ:MKZR – Get Free Report) was the target of a significant 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 currently 1.8 days. Approximately 0.7% of the shares of the company are sold short.

Analysts Set New Price Targets

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

View Our Latest Stock Report on Mackenzie Realty Capital

Mackenzie Realty Capital Stock Down 4.4%

MKZR stock traded down $0.06 during trading on Wednesday, reaching $1.31. 3,184 shares of the company traded hands, compared to its average volume of 6,299. Mackenzie Realty Capital has a 12 month low of $0.83 and a 12 month high of $6.00. The company has a market capitalization of $3.63 million, a price-to-earnings ratio of -0.14 and a beta of -0.46. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.09 and a current ratio of 0.08. The business has a 50 day simple moving average of $1.44 and a 200 day simple moving average of $2.20.

Insider Activity

In related news, General Counsel Charles E. Patterson II bought 23,400 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were bought at an average cost of $1.60 per share, with a total value of $37,440.00. Following the acquisition, the general counsel owned 100,000 shares in the company, valued at $160,000. This trade represents a 30.55% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert E. Dixon purchased 23,400 shares of Mackenzie Realty Capital stock in a transaction on Monday, August 10th. The stock was bought at an average price of $1.60 per share, with a total value of $37,440.00. Following the transaction, the chief executive officer owned 100,000 shares of the company’s stock, valued at approximately $160,000. This represents a 30.55% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders acquired a total of 100,200 shares of company stock valued at $160,020 in the last 90 days. Company insiders own 6.30% of the company’s stock.

Institutional Investors Weigh In On Mackenzie Realty Capital

A hedge fund recently raised its stake in Mackenzie Realty Capital stock. Concorde Asset Management LLC lifted its stake in shares of Mackenzie Realty Capital, Inc. (NASDAQ:MKZR – Free Report) by 40.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,250 shares of the company’s stock after purchasing an additional 11,010 shares during the period. Concorde Asset Management LLC owned about 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

(Get Free Report)

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.

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