{ "ok": true, "cik": "1550913", "ticker": "MKZR", "name": "MACKENZIE REALTY CAPITAL, INC.", "filings": [ { "form": "DEF 14A", "filed": "2026-10-02", "items": [], "url": "https://www.sec.gov/Archives/edgar/data/1550913/000155091326000036/0001550913-26-000036-index.htm" }, { "form": "8-K", "filed": "2026-10-02", "items": [ "7.01 Regulation FD Disclosure", "8.01 Other Events", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/1550913/000155091326000034/0001550913-26-000034-index.htm" }, { "form": "8-K", "filed": "2026-09-30", "items": [ "7.01 Regulation FD Disclosure", "8.01 Other Events", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/1550913/000155091326000031/0001550913-26-000031-index.htm" }, { "form": "10-K", "filed": "2026-09-28", "items": [], "url": "https://www.sec.gov/Archives/edgar/data/1550913/000114036126037858/0001140361-26-037858-index.htm" }, { "form": "8-K", "filed": "2026-07-29", "items": [ "7.01 Regulation FD Disclosure", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/1550913/000155091326000027/0001550913-26-000027-index.htm" }, { "form": "8-K", "filed": "2026-07-14", "items": [ "7.01 Regulation FD Disclosure", "8.01 Other Events", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/1550913/000155091326000025/0001550913-26-000025-index.htm" } ], "events12m": 17, "healthWatch": { "window": "last 12 months", "since": "2025-10-05", "signals": [], "note": "Events the company itself filed with the SEC, most serious first. Shown beside the figures; they do not change the range or its receipt." }, "sources": { "facts": "https://data.sec.gov/api/xbrl/companyfacts/CIK0001550913.json", "filings": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1550913" }, "license": "Figures as filed with the SEC. Card text CC BY 4.0, POPS4.", "notAdvice": "Reporting, not investment advice. No price targets and no trading recommendations.", "edgar": "🫧 Edgar looked up MACKENZIE REALTY CAPITAL, INC. ($MKZR). Last filing: DEF 14A, 2026-10-02. 17 event filings (8-K) in the past twelve months. Auditor change (8-K Item 4.01) filed 2025-06-10.", "auditor": { "changes": [ { "filed": "2025-06-10", "url": "https://www.sec.gov/Archives/edgar/data/1550913/000155091325000085/0001550913-25-000085-index.htm" } ], "nonReliance": [], "restatedSince": null }, "metrics": { "fiscalYearEnd": "2026-06-30", "revenue": 20007414, "revenueGrowth1y": -0.09303914810273128, "revenueGrowthPerYear": 0.17858714300287515, "yearsOfData": 5, "operatingMargin": -0.7803983063478369, "operatingMarginPrior": -1.0635635076822623, "netMargin": -0.7061187417824213, "operatingCashFlow": -3309228, "capitalSpending": null, "freeCashFlow": null, "researchAndDevelopment": null, "researchShareOfRevenue": null, "cash": 3517313, "longTermDebt": 148469186, "longTermDebtChange": 0.09702215556525928, "revenueHistory": [ { "fiscalYearEnd": "2022-06-30", "revenue": 10369174 }, { "fiscalYearEnd": "2023-06-30", "revenue": 15107219 }, { "fiscalYearEnd": "2024-06-30", "revenue": 15736103 }, { "fiscalYearEnd": "2025-06-30", "revenue": 22059843 }, { "fiscalYearEnd": "2026-06-30", "revenue": 20007414 } ], "totalEquity": 43776005, "totalAssets": 235289800, "equityRatio": 0.18605143529383764, "returnOnEquity": -0.32272497227647884, "dividendsPaid": 0, "payoutRatio": null, "dividendPerShare": 0, "dividendYearsRising": 0, "dividendCut": true, "priceBased": "Dividend yield, price/earnings and price/book need a share price. The boards carry filings only, so they are not shown.", "earningsPerShare": -9.54, "sharesOutstanding": 2002030.42, "bookValuePerShare": 21.86580411700238, "revenuePerShare": 9.993561436494057, "range80": { "low": 11666989.63910195, "high": 33151354.579131193, "baseline": 20058722.21007441, "n": 2483, "band": "b000", "bandLabel": "under $50M", "method": "v4.1", "credibility": 0.5, "growthYears": 4, "ownVolatility": 0.23017282902070005, "classVolatility": 0.3000583276631395, "volatility": 0.26740842471712856 }, "ifPaceHeld": { "low": 11666989.63910195, "high": 33151354.579131193 } }, "edgarette": "🔖 Exposure: revenue $20.0M (FY2026), total debt $148.5M. Experience: revenue down 9.3% on the year, up 17.9% a year over 4 years; operating margin -78.0%, up from -106.4%. Soundness: equity 18.6% of assets, return on equity -32.3%, the dividend per share fell in the latest year on record. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $11.7M and $33.2M next year (method v4.1: its own 4-year record of growth weighed at 50% against under $50M filers; across 2019–2025, 69.0% landed inside, 83.4% on the one year the method never saw). In a shock year the stress range is $10.9M to $35.7M. A statistical range, not company guidance. Against peers (79 filers, $50M+ revenue, real estate investment trusts): operating margin -78.0% against a 24.7% median; growth -9.3% against 3.7%.", "peers": { "sic": 6798, "sicDescription": "Real Estate Investment Trusts", "calendarYear": 2025, "minRevenue": 50000000, "depth": 4, "group": "6798", "growth": [ 0.0366, 157 ], "opMargin": [ 0.2474, 79 ], "equityRatio": [ 0.3883, 154 ], "returnOnEquity": [ 0.0254, 128 ], "payoutRatio": [ 1.5128, 81 ] }, "summary": "Mackenzie Realty Capital (MKZR) saw revenue fall 9.3% in FY2026 to $20 million, operating margin -78.0% against a 24.7% median for real estate investment trusts, equity 18.6% of assets, and its dividend per share fell in the latest year on record. Every figure is from the company’s own annual report filed with the SEC.", "chart": "
MACKENZIE REALTY CAPITAL, INC. against its own record and its peers
Operating marginPeer median 24.7%-78.0%Revenue, on the yearPeer median 3.7%-9.3%Equity of assetsPeer median 38.8%18.6%Return on equityPeer median 2.5%-32.3%Gold tick: the median of 128–154 peers with $50M+ revenue in real estate investment trusts
", "chartHorizon": "
Handed back now, or kept to compound · of each dollar of profit
Handed back per share$0cut in the latest year

Gold paid out, navy kept. Kept share × return on equity = the growth it can fund itself. Facts from the filings, not a recommendation.

", "backtest": { "tests": 1, "hits": 1, "rate": 1, "method": "v4", "byYear": { "2026": [ 1, 1 ] }, "note": "hindsight: the same credibility-weighted range on the company's own past years. Years 2018-2023 were used to fit or tune the method, so only 2025 outcomes are fully out of sample." }, "registry": { "logged": "2026-10-05T13:31:26.985Z", "hash": "cb36b87b9e811d3c", "status": "open" }, "caution": "Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.", "schema": "pops4.edgarette.card/1", "card": { "summary": "Mackenzie Realty Capital (MKZR) saw revenue fall 9.3% in FY2026 to $20 million, operating margin -78.0% against a 24.7% median for real estate investment trusts, equity 18.6% of assets, and its dividend per share fell in the latest year on record. Every figure is from the company’s own annual report filed with the SEC.", "exposure": { "fiscalYearEnd": "2026-06-30", "revenue": 20007414, "totalDebt": 148469186, "cash": 3517313 }, "experience": { "revenueGrowth1y": -0.09303914810273128, "revenueGrowthPerYear": 0.17858714300287515, "operatingMargin": -0.7803983063478369, "operatingMarginPrior": -1.0635635076822623, "netMargin": -0.7061187417824213, "freeCashFlow": null }, "soundness": { "equityRatio": 0.18605143529383764, "returnOnEquity": -0.32272497227647884, "payoutRatio": null, "dividendPerShare": 0, "dividendYearsRising": 0, "dividendCut": true, "note": "Dividend yield, price/earnings and price/book need a share price. The boards carry filings only, so they are not shown." }, "peers": { "sic": 6798, "sicDescription": "Real Estate Investment Trusts", "calendarYear": 2025, "minRevenue": 50000000, "depth": 4, "group": "6798", "growth": [ 0.0366, 157 ], "opMargin": [ 0.2474, 79 ], "equityRatio": [ 0.3883, 154 ], "returnOnEquity": [ 0.0254, 128 ], "payoutRatio": [ 1.5128, 81 ] }, "credibility": { "auditedYears": 5, "weight": "reasonable", "standard": "ASOP No. 25", "nonReliance": null, "auditorChange": { "filed": "2025-06-10", "url": "https://www.sec.gov/Archives/edgar/data/1550913/000155091325000085/0001550913-25-000085-index.htm" } }, "healthWatch": { "window": "last 12 months", "since": "2025-10-05", "signals": [], "note": "Events the company itself filed with the SEC, most serious first. Shown beside the figures; they do not change the range or its receipt." }, "range": { "low": 11666989.63910195, "high": 33151354.579131193, "baseline": 20058722.21007441, "coverage": 0.8, "method": "v4.1", "basis": "next fiscal year revenue: baseline = revenue x (1 + mean of one-year and three-year pace); width = the company's own volatility of yearly growth, credibility-weighted against its size class (Buhlmann), scaled to the 80% target on 2023 and tested on 2024", "calibratedOn": { "companyYears": 2483, "sizeBand": "under $50M", "fitYears": [ 2018, 2022 ], "tuneYear": 2023, "testYear": 2024, "coverageOnTestYear": 0.8341, "coverageAllYears": 0.6904374799277399, "stressCoverageAllYears": 0.819004992974709, "outcomeYears": [ 2019, 2025 ] }, "credibility": { "weightOnOwnRecord": 0.5, "growthYears": 4, "ownVolatility": 0.23017282902070005, "classVolatility": 0.3000583276631395, "pricedVolatility": 0.26740842471712856, "k": 3 }, "stress": { "low": 10860675.18903787, "high": 35701321.09656219, "basis": "the same range with widths set to hold 80% across 2018-2023, pandemic years included" }, "kind": "a statistical range, not company guidance; no view on the share price", "track": { "backtest": { "tests": 1, "hits": 1, "rate": 1, "method": "v4", "byYear": { "2026": [ 1, 1 ] }, "note": "hindsight: the same credibility-weighted range on the company's own past years. Years 2018-2023 were used to fit or tune the method, so only 2025 outcomes are fully out of sample." }, "registry": { "logged": "2026-10-05T13:31:26.985Z", "hash": "cb36b87b9e811d3c", "status": "open" }, "scorecard": "https://www.pops4.com/boards/scorecard" } }, "caution": "Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.", "sources": { "facts": "https://data.sec.gov/api/xbrl/companyfacts/CIK0001550913.json", "filings": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1550913" }, "speedCash": { "fiscalYear": 2025, "cashConversion": -0.0766, "growth3y": 0.2861, "volatility": 0.1836, "paysDividend": true, "raisedDividend": false, "equityRatio": 0.2177, "quadrant": { "code": "fs", "label": "Fast and steady", "plain": "growing faster than its size class, with steadier revenue" }, "compass": { "code": "notyet", "inside": "Turns -7.7% of revenue into operating cash; revenue growing 28.6% a year over three years; pays a dividend.", "outside": "Among under $50M companies: 64th percentile for cash, 76th for growth.", "emoji": "⚡", "label": "Fast, cash not yet", "plain": "growing fast, but little cash arriving so far" }, "band": "under $50M", "cashPctInClass": 64, "growthPctInClass": 76, "source": "SEC XBRL frames, the company’s own audited figures; quadrant split at the median of its size class" }, "harbor": { "signs": [ { "key": "cash", "text": "operating cash flow was negative" }, { "key": "range", "text": "revenue is hard to predict: its 80% range is ±48%" } ], "rule": "Boat condition = number of warning signs: a serious warning filing in 12 months; liabilities over assets; slow and jumpy; negative operating cash; an 80% revenue range of ±25% or wider.", "level": 2, "name": "Weathered boat", "plain": "two warning signs" }, "cashFlow": { "fiscalYearEnd": "2026-06-30", "operating": -3309228, "investing": -9135669, "financing": 12137311, "capitalSpending": null, "free": null, "trend": [ { "fiscalYearEnd": "2022-06-30", "operating": 4622076, "free": null }, { "fiscalYearEnd": "2023-06-30", "operating": -6620774, "free": null }, { "fiscalYearEnd": "2024-06-30", "operating": -595517, "free": null }, { "fiscalYearEnd": "2025-06-30", "operating": -1690102, "free": null }, { "fiscalYearEnd": "2026-06-30", "operating": -3309228, "free": null } ], "note": "Annual, as filed in 10-K cash flow statements; negative investing/financing = cash going out (capital spending, buybacks, dividends, debt repaid)." }, "investments": { "fiscalYearEnd": "2026-06-30", "cash": 3517313, "shortTerm": null, "longTerm": null, "equityHoldings": null, "totalAssets": 235289800, "ladder": null, "currentRatio": null, "unrealizedGain": null, "unrealizedLoss": null, "note": "Balance-sheet cash and investment securities at fiscal year end, as filed; short-term = due or saleable within a year. Insurers and banks hold most of their book here." } }, "definitions": { "operatingMargin": "Operating income divided by revenue.", "netMargin": "Net income divided by revenue.", "freeCashFlow": "Cash from operations minus spending on property and equipment.", "researchShareOfRevenue": "Research and development expense for the year as a share of revenue, both as filed.", "equityRatio": "Shareholders equity as a share of total assets, both as filed. Higher means less of the company is owed to someone else.", "returnOnEquity": "Net income for the year against shareholders equity at year end.", "payoutRatio": "Dividends paid as a share of net income, in the year the cash went out.", "dividendYearsRising": "Consecutive years, counted back from the last on record, in which dividend per share rose. A fall ends the run and is reported as dividendCut.", "revenueGrowthPerYear": "Compound annual growth between the first and latest fiscal years shown.", "credibility": "How much weight a record deserves, in the actuarial sense (ASOP No. 25): more audited years, more weight.", "peers": "Medians of SEC filers with $50M+ revenue in the same industry code (SIC), narrowest group with at least 8 filers, calendar-year figures from SEC XBRL frames.", "backtest": "The same range method applied to the company's own past years, scored against what it actually reported next. Hindsight, and labelled so.", "healthWatch": "Distress-type events the company filed in the last 12 months (late-filing notices; 8-K items 1.03, 3.01, 2.04, 4.02, 4.01, 2.05, 2.06, 1.05, 5.02), each with its count and newest filing. Display only: they do not change the range or its receipt." }, "speedCash": { "fiscalYear": 2025, "cashConversion": -0.0766, "growth3y": 0.2861, "volatility": 0.1836, "paysDividend": true, "raisedDividend": false, "equityRatio": 0.2177, "quadrant": { "code": "fs", "label": "Fast and steady", "plain": "growing faster than its size class, with steadier revenue" }, "compass": { "code": "notyet", "inside": "Turns -7.7% of revenue into operating cash; revenue growing 28.6% a year over three years; pays a dividend.", "outside": "Among under $50M companies: 64th percentile for cash, 76th for growth.", "emoji": "⚡", "label": "Fast, cash not yet", "plain": "growing fast, but little cash arriving so far" }, "band": "under $50M", "cashPctInClass": 64, "growthPctInClass": 76, "source": "SEC XBRL frames, the company’s own audited figures; quadrant split at the median of its size class" }, "harbor": { "signs": [ { "key": "cash", "text": "operating cash flow was negative" }, { "key": "range", "text": "revenue is hard to predict: its 80% range is ±48%" } ], "rule": "Boat condition = number of warning signs: a serious warning filing in 12 months; liabilities over assets; slow and jumpy; negative operating cash; an 80% revenue range of ±25% or wider.", "level": 2, "name": "Weathered boat", "plain": "two warning signs" }, "cashFlow": { "fiscalYearEnd": "2026-06-30", "operating": -3309228, "investing": -9135669, "financing": 12137311, "capitalSpending": null, "free": null, "trend": [ { "fiscalYearEnd": "2022-06-30", "operating": 4622076, "free": null }, { "fiscalYearEnd": "2023-06-30", "operating": -6620774, "free": null }, { "fiscalYearEnd": "2024-06-30", "operating": -595517, "free": null }, { "fiscalYearEnd": "2025-06-30", "operating": -1690102, "free": null }, { "fiscalYearEnd": "2026-06-30", "operating": -3309228, "free": null } ], "note": "Annual, as filed in 10-K cash flow statements; negative investing/financing = cash going out (capital spending, buybacks, dividends, debt repaid)." }, "investments": { "fiscalYearEnd": "2026-06-30", "cash": 3517313, "shortTerm": null, "longTerm": null, "equityHoldings": null, "totalAssets": 235289800, "ladder": null, "currentRatio": null, "unrealizedGain": null, "unrealizedLoss": null, "note": "Balance-sheet cash and investment securities at fiscal year end, as filed; short-term = due or saleable within a year. Insurers and banks hold most of their book here." } }