MacKenzie Realty Capital Inc., a publicly registered non-traded real estate investment trust, submitted its public listing application to Nasdaq and is currently working with Nasdaq on answering various comments and providing various documents in support of listing on a national securities change.
In March 2024, The DI Wire reported that the REIT had suspended its dividend reinvestment and share repurchase programs in preparation for listing on the securities exchange.
Last week, the company declared its regular quarterly dividend for the period ended Sept. 30, 2024, in the amount of $0.125 per share, which is scheduled to be paid on Oct. 25 to stockholders of record as of the close of business on Sept. 30.
The company reported total assets of approximately $233.1 million and total equity of approximately $107.9 million as of June 30, 2024. MacKenzie had approximately 13.3 million shares of common stock outstanding as of the same reporting period.
Over the summer, the REIT launched a tender offer to purchase up to 700,000 Class S Shares of Starwood Real Estate Income Trust for $17.50 per share. The offer was made, together with its affiliates and represented an approximate 24% discount to Starwood’s estimated net asset value of $22.94 as of May 31, 2024.
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