$MKZR
Mackenzie Realty Capital Inc

2024 Q2 Form 10-Q Financial Statement

#000114036124026184 Filed on May 15, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1 2023 Q4
Revenue $4.079M $3.577M
YoY Change -8.74% -2.63%
Cost Of Revenue $1.806M $1.505M
YoY Change -28.89% -34.28%
Gross Profit $2.273M $2.072M
YoY Change 17.76% 49.1%
Gross Profit Margin 55.72% 57.93%
Selling, General & Admin $613.8K $610.9K
YoY Change 2.3% 9.1%
% of Gross Profit 27.01% 29.48%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.343M $1.147M
YoY Change 28.16% 34.46%
% of Gross Profit 59.07% 55.32%
Operating Expenses $6.757M $5.936M
YoY Change -9.86% -8.0%
Operating Profit -$2.678M -$2.358M
YoY Change -11.5% -15.09%
Interest Expense $1.602M $1.453M
YoY Change -16.04% -13.29%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$2.948M -$1.554M
YoY Change -71.21% -68.29%
Income Tax
% Of Pretax Income
Net Earnings -$2.948M -$1.554M
YoY Change -71.2% -68.29%
Net Earnings / Revenue -72.28% -43.43%
Basic Earnings Per Share -$0.26 -$0.15
Diluted Earnings Per Share -$0.26 -$0.15
COMMON SHARES
Basic Shares Outstanding 13.30M 13.30M 13.30M
Diluted Shares Outstanding

Balance Sheet

Concept 2024 Q2 2024 Q1 2023 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $15.46M $12.17M
YoY Change -12.15% 71.46%
Cash & Equivalents $11.85M $15.46M $12.17M
Short-Term Investments
Other Short-Term Assets $1.187M $829.3K
YoY Change -1.06% -7.86%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $18.56M $14.11M
YoY Change -6.29% 60.3%
LONG-TERM ASSETS
Property, Plant & Equipment $195.2M $173.3M
YoY Change 13.74% 31.69%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $11.67M $16.54M
YoY Change -52.76% -68.49%
Other Assets $686.5K $864.5K
YoY Change -93.87% -95.12%
Total Long-Term Assets $207.5M $190.7M
YoY Change 0.0% -5.48%
TOTAL ASSETS
Total Short-Term Assets $18.56M $14.11M
Total Long-Term Assets $207.5M $190.7M
Total Assets $233.1M $226.1M $204.8M
YoY Change 9.35% -0.55% -2.73%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.143M $1.093M
YoY Change 33.95% -21.94%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $4.586M $3.782M
YoY Change 11.85% -3.02%
LONG-TERM LIABILITIES
Long-Term Debt $108.8M $95.25M
YoY Change -5.76% 3.42%
Other Long-Term Liabilities $4.943M $3.214M
YoY Change -22.77% -48.17%
Total Long-Term Liabilities $113.8M $98.47M
YoY Change -6.66% 0.17%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.586M $3.782M
Total Long-Term Liabilities $113.8M $98.47M
Total Liabilities $125.1M $118.4M $102.2M
YoY Change 22.51% -6.15% -0.03%
SHAREHOLDERS EQUITY
Retained Earnings -$54.72M -$49.85M -$44.70M
YoY Change 56.97% 16.28% 44.84%
Common Stock $1.330K $1.331K $1.324K
YoY Change 0.45% 0.53% -0.08%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $82.36M $86.31M $90.47M
YoY Change
Total Liabilities & Shareholders Equity $233.1M $226.1M $204.8M
YoY Change 9.35% -0.55% -2.73%

Cashflow Statement

Concept 2024 Q2 2024 Q1 2023 Q4
OPERATING ACTIVITIES
Net Income -$2.948M -$1.554M
YoY Change -71.2% -68.29%
Depreciation, Depletion And Amortization $1.343M $1.147M
YoY Change 28.16% 34.46%
Cash From Operating Activities $743.3K -$1.103M
YoY Change -151.98% -58.07%
INVESTING ACTIVITIES
Capital Expenditures $1.067M $609.1K
YoY Change -89.01% -91.31%
Acquisitions
YoY Change
Other Investing Activities $4.391M $3.461M
YoY Change -79.14% 181.37%
Cash From Investing Activities $3.324M $2.852M
YoY Change -70.69% -149.25%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -956.8K -3.393M
YoY Change -202.88% -172.34%
NET CHANGE
Cash From Operating Activities 743.3K -1.103M
Cash From Investing Activities 3.324M 2.852M
Cash From Financing Activities -956.8K -3.393M
Net Change In Cash 3.110M -1.644M
YoY Change -71.31% -55.93%
FREE CASH FLOW
Cash From Operating Activities $743.3K -$1.103M
Capital Expenditures $1.067M $609.1K
Free Cash Flow -$323.5K -$1.712M
YoY Change -97.1% -82.24%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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dei Entity Address State Or Province
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CA
dei Entity Address Postal Zip Code
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dei Local Phone Number
LocalPhoneNumber
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dei Entity Filer Category
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dei Document Quarterly Report
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dei Document Period End Date
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dei Document Transition Report
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dei Entity File Number
EntityFileNumber
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dei Entity Registrant Name
EntityRegistrantName
MacKenzie Realty Capital, Inc.
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
MD
dei Entity Tax Identification Number
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89 Davis Road, Suite 100
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mrc Payments For Proceeds From Change In Capital Pending Acceptance
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsClassifiedAsAssetsHeldForSale
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CY2023Q1 mrc Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Classified As Assets Held For Sale
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsClassifiedAsAssetsHeldForSale
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mrc Issuance Of Preferred Stock Through Reinvestment Of Dividends
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mrc Issuance Of Preferred Stock Through Reinvestment Of Dividends
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mrc Issuance Operating Partnership Preferred Units Through Reinvestment Of Dividends
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CY2024Q1 us-gaap Finance Lease Right Of Use Asset Statement Of Financial Position Extensible List
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CY2023Q2 us-gaap Finance Lease Right Of Use Asset Statement Of Financial Position Extensible List
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CY2023Q2 us-gaap Finance Lease Right Of Use Asset Statement Of Financial Position Extensible List
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CY2024Q1 mrc Operating Partnership Preferred Stock Issued During Period Value Dividend Reinvestment Plan
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mrc Nondeductible Excise Tax
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us-gaap Amortization Of Intangible Assets
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us-gaap Amortization Of Intangible Assets
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us-gaap Finance Lease Right Of Use Asset Amortization
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us-gaap Finance Lease Right Of Use Asset Amortization
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CY2024Q1 us-gaap Finance Lease Liability Payments Due
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us-gaap Incentive Fee Expense
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us-gaap Property Management Fee Revenue
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us-gaap Leasing Commissions Expense
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us-gaap Property Management Fee Revenue
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us-gaap Leasing Commissions Expense
LeasingCommissionsExpense
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DirectOperatingCostsAndConstructionOfTenantImprovements
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mrc Direct Operating Costs And Construction Of Tenant Improvements
DirectOperatingCostsAndConstructionOfTenantImprovements
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CY2023Q1 mrc Number Of Property Limited Partnership
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DirectOperatingCostsAndConstructionOfTenantImprovements
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mrc Direct Operating Costs And Construction Of Tenant Improvements
DirectOperatingCostsAndConstructionOfTenantImprovements
1584819
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us-gaap Administrative Fees Expense
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us-gaap Administrative Fees Expense
AdministrativeFeesExpense
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us-gaap Noninterest Expense Transfer Agent And Custodian Fees
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CY2023Q1 us-gaap Noninterest Expense Transfer Agent And Custodian Fees
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us-gaap Noninterest Expense Transfer Agent And Custodian Fees
NoninterestExpenseTransferAgentAndCustodianFees
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mrc Assets Management Fee Expense
AssetsManagementFeeExpense
2389529
mrc Assets Management Fee Expense
AssetsManagementFeeExpense
2225085
CY2024Q1 mrc Due To Related Parties Asset Management Fees
DueToRelatedPartiesAssetManagementFees
0
CY2023Q2 mrc Due To Related Parties Asset Management Fees
DueToRelatedPartiesAssetManagementFees
0
us-gaap Administrative Fees Expense
AdministrativeFeesExpense
567550
us-gaap Administrative Fees Expense
AdministrativeFeesExpense
544500
CY2024Q1 mrc Due To Related Parties Administrative Cost Reimbursements
DueToRelatedPartiesAdministrativeCostReimbursements
0
CY2023Q2 mrc Due To Related Parties Administrative Cost Reimbursements
DueToRelatedPartiesAdministrativeCostReimbursements
0
mrc Asset Acquisition Fees
AssetAcquisitionFees
687548
mrc Asset Acquisition Fees
AssetAcquisitionFees
1878356
CY2024Q1 mrc Due To Related Parties Asset Acquisition Fees
DueToRelatedPartiesAssetAcquisitionFees
0
CY2023Q2 mrc Due To Related Parties Asset Acquisition Fees
DueToRelatedPartiesAssetAcquisitionFees
0
us-gaap Noninterest Expense Transfer Agent And Custodian Fees
NoninterestExpenseTransferAgentAndCustodianFees
49700
us-gaap Noninterest Expense Transfer Agent And Custodian Fees
NoninterestExpenseTransferAgentAndCustodianFees
69000
CY2024Q1 mrc Due To Related Parties Transfer Agent Cost Reimbursements
DueToRelatedPartiesTransferAgentCostReimbursements
0
CY2023Q2 mrc Due To Related Parties Transfer Agent Cost Reimbursements
DueToRelatedPartiesTransferAgentCostReimbursements
0
mrc Incurred Offering Costs Reimbursement
IncurredOfferingCostsReimbursement
100309
mrc Incurred Offering Costs Reimbursement
IncurredOfferingCostsReimbursement
410214
CY2024Q1 mrc Due To Related Parties Organization And Offering Cost
DueToRelatedPartiesOrganizationAndOfferingCost
100280
CY2023Q2 mrc Due To Related Parties Organization And Offering Cost
DueToRelatedPartiesOrganizationAndOfferingCost
151132
us-gaap Other Expenses
OtherExpenses
0
us-gaap Other Expenses
OtherExpenses
0
CY2024Q1 mrc Other Expenses Due To Related Party
OtherExpensesDueToRelatedParty
64289
CY2023Q2 mrc Other Expenses Due To Related Party
OtherExpensesDueToRelatedParty
5232
CY2024Q1 us-gaap Other Liabilities
OtherLiabilities
164569
CY2023Q2 us-gaap Other Liabilities
OtherLiabilities
156364
CY2024Q1 us-gaap Longterm Construction Loan Current And Noncurrent
LongtermConstructionLoanCurrentAndNoncurrent
17150000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-10033020
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-14397810
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
13289917.01
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
13289917.01
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
13282666.75
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
13282666.75
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.75
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.75
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.08
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.08
CY2023Q1 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
143762.3
CY2023Q1 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
1237009
CY2023Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.125
CY2023Q3 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
1652688
CY2023Q4 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.125
CY2023Q4 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
1652367
CY2024Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.125
CY2024Q1 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
1660225
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.375
us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
4965280
mrc Payments For Reinvestment Of Common Stock Dividend Reinvestment Plan
PaymentsForReinvestmentOfCommonStockDividendReinvestmentPlan
1371351
mrc Payments For Reinvestment Of Preferred Stock Dividend Reinvestment Plan
PaymentsForReinvestmentOfPreferredStockDividendReinvestmentPlan
128679
CY2022Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.105
CY2022Q3 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
1390290
CY2022Q4 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.11
CY2022Q4 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
1456391
CY2023Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.115
CY2023Q1 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
1520985
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.33
us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
4367666
mrc Payments Of Ordinary Dividends Common Stock Before Dividend Reinvestment Plan
PaymentsOfOrdinaryDividendsCommonStockBeforeDividendReinvestmentPlan
4170569
mrc Payments For Reinvestment Of Common Stock Dividend Reinvestment Plan
PaymentsForReinvestmentOfCommonStockDividendReinvestmentPlan
1208909
CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false

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0001140361-24-026184.txt Edgar Link pending
0001140361-24-026184-xbrl.zip Edgar Link pending
ef20026275_10q.htm Edgar Link pending
ef20026275_ex31-1.htm Edgar Link pending
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