MacKenzie Realty shares surge 32.36% after-hours after creating standalone apartment company with $18.10 NAV.

MacKenzie Realty Capital (MKZR) surged 32.36% in after-hours trading following the announcement of a strategic reorganization, creating MacKenzie Apartment Communities, Inc. (MAC) as a stand-alone entity to focus on West Coast multifamily properties. The move included contributing four stabilized properties and a development project to MAC, with a NAV of $18.10 per share established based on March 2025 appraisals. CEO Robert Dixon highlighted potential strategic options, including fundraising, mergers, or a spin-off, signaling flexibility to capitalize on MAC’s strong balance sheet and growth prospects. The reorganization, emphasizing value unlocking and operational clarity, directly drove the sharp after-hours rally.