J.W. Mays Posts $1.4M Fiscal 2026 Loss, Puts 25 Elm Place Up for Sale
MAYS sits 22% above its 52-week low of $32.32 on light trading volume (0.1× avg).
Summary
J.W. Mays' fiscal 2026 net loss widened to $1.4 million from $136,240 a year earlier on lower rental income. The company has begun actively marketing its 25 Elm Place property for sale while adding roughly $6.3 million of net new mortgage debt.
Key Events · Earnings and Guidance · MAYS
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Fiscal 2026 Loss Widens Sharply
Net loss was $(1,399,536), or $(.69) per share, versus $(136,240), or $(.07) per share, in fiscal 2025.
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Revenue Falls on Tenant Losses
Rental income declined to $21,094,506 from $22,469,710, driven by lost tenants and rent concessions, while real estate operating expenses rose to $16,107,979 from $15,655,276.
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New Mortgage Debt Funds Operations
Mortgages payable rose to $9,485,431 from $3,235,561 after a $6,200,000 Putnam County National Bank loan and an $8,000,000 Beacon Bank & Trust facility; operating cash flow fell to $1,612,322 from $2,520,634.
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25 Elm Place Marketed for Sale
The company engaged Newmark Group, Inc. to actively market 25 Elm Place, Brooklyn for sale to unaffiliated buyers, with no assurance a sale occurs.
Analysis · MAYS · Real Estate & Construction
The annual report shows the loss widening roughly tenfold to $1.4 million as rental revenue fell and real estate taxes and insurance rose, while operating cash flow dropped to $1.6 million from $2.5 million. To bridge the gap, the company took on new secured debt, lifting mortgages payable to $9.5 million from $3.2 million, and has hired Newmark to market 25 Elm Place in Brooklyn for sale. There is no going-concern warning, and management says liquidity will cover the next twelve months; even so, the company is funding $5 million of planned capital spending from operations and borrowings while its largest tenants dominate revenue.
How filings like this one have moved
In the 30 days to Oct 22, 2026, 29.4% of the 1539 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.45%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, MAYS was trading at $39.50 on NASDAQ in the Real Estate & Construction sector, with a market capitalization of approximately $79.6M. The 52-week trading range was $32.32 to $61.99. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.