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J.W. Mays, Inc. filings document a commercial real estate company whose common stock is registered on Nasdaq under the symbol MAYS. Its reports cover revenues and operating results from leased office and retail properties, formal earnings releases furnished on Form 8-K, and liquidity-related disclosures tied to the management of its real estate portfolio.
The company’s SEC record also includes material financing disclosures, including a mortgage-backed loan obtained by its wholly owned J.W.M. Realty Corp. subsidiary and guaranteed by the company, as well as proxy materials and annual-meeting results covering director elections, board size, auditor ratification, executive compensation advisory votes and shareholder voting outcomes.
J.W. Mays, Inc. entered into a transition agreement with Vice President, Chief Financial Officer, and Treasurer Ward Lyke Jr. on July 30, 2026. He will continue in his roles through September 25, 2026, when he will step down and resign. The company states his departure is not related to any disagreements.
The agreement keeps his base salary at $316,000 through the Separation Date and, if he remains in good standing and signs an Agreement and General Release, provides separation benefits including six weeks of base salary. Upon his separation, Controller Kevin Guptar will serve as Principal Financial Officer and Principal Accounting Officer.
J.W. Mays, Inc. disclosure: Wax Asset Management, LLC reports beneficial ownership of 156,352 shares of Common Stock, representing 7.76% of the class. The filing lists sole voting and dispositive power over those shares. The form is signed by Evan Wax as President.
J. W. Mays, Inc. reported weaker results for the three and nine months ended April 30, 2026. Revenue for the quarter was $5,314,751 versus $5,632,151 a year earlier, and nine‑month revenue was $15,777,647 versus $16,814,724.
The company posted a quarterly net loss from operations of $(216,863), or $(0.11) per share, compared with net income from operations of $86,784, or $0.04 per share, in the prior‑year quarter. For the nine‑month period, net loss from operations widened to $(1,059,850), or $(0.53) per share, from a net loss from operations of $(44,240), or $(0.02) per share, a year earlier.
J.W. Mays, Inc. reported weaker results for the three and nine months ended April 30, 2026, moving from near break-even to a meaningful loss as rental income declined.
Quarterly revenue fell to $5.31 million from $5.63 million and the company posted a net loss of $216,863, versus prior-year net income of $86,784. For the nine-month period, revenue slipped to $15.78 million from $16.81 million and net loss widened sharply to $1.06 million from $44,240, driven by tenant losses, significant rent concessions and higher real estate operating costs. Cash and cash equivalents increased to $2.11 million, while total assets reached $90.22 million and shareholders’ equity was $51.70 million. After quarter-end, the company secured an $8.0 million non‑revolving, mortgage-backed credit facility to help fund a planned expansion of its Fishkill, New York property for an existing tenant.
J.W. Mays, Inc. has entered into an $8,000,000 non‑revolving line of credit and building loan with Beacon Bank & Trust, secured by a first‑lien mortgage on its Fishkill, New York property. During the advance period through May 11, 2027, the company pays a floating rate equal to the lender’s WSJ Prime Rate plus 100 basis points, with a minimum rate of 7.25% per annum.
From May 12, 2027 until the May 1, 2036 maturity date, the loan amortizes over 25 years at a rate based on the Federal Home Loan Bank of Boston five‑year advance index plus 225 basis points, subject to a 6.00% minimum rate. J.W. Mays must keep at least $1,000,000 on deposit with the lender and funded a $350,000 interest reserve at closing. About $2,000,000 was advanced initially, and the company plans to use net proceeds to expand rentable space at the Fishkill property for an existing tenant, with expectations to draw the full $8,000,000 as the project progresses.
J.W. Mays, Inc. filed an amended report to correct a header error and clarify that recent disclosures are made under Item 7.01 as a Regulation FD Disclosure, not as entry into a material definitive agreement. The company has engaged Newmark Group, Inc. to begin marketing its property at 25 Elm Place in Brooklyn for sale to unaffiliated third parties as part of broader efforts to consider strategic real estate sales to address liquidity needs. Marketing is at an early stage, the property will continue to be leased and operated as usual, and any sale would require Board approval, with no assurances a transaction will occur or when it might happen.
J.W. Mays, Inc. has engaged Newmark Group, Inc. to begin actively marketing its property at 25 Elm Place in Brooklyn, New York for a potential sale to unaffiliated third-party buyers. This step supports the company’s previously stated strategy of exploring property sales to manage liquidity needs.
The company will continue to lease and operate the 25 Elm Place property as usual while marketing progresses and may negotiate lease modifications, terminations, or relocations of certain tenants to its 9 Bond Street property in Brooklyn. Any sale would require approval by the Board of Directors, and there is no assurance that a transaction will occur or when it might happen.
J. W. Mays, Inc. disclosed that its wholly owned subsidiary J.W.M. Realty Corp. entered into a new mortgage loan with Putnam County National Bank secured by its Circleville, Ohio property. The Loan has a principal amount of $6,200,000, a fixed interest rate of 7.00% per annum, and is due in full on April 1, 2031, when it becomes payable on demand.
The Borrower must make equal monthly payments of $48,068.53 starting May 1, 2026 until principal and interest are fully repaid, with each payment applied first to interest, then lender advances, then principal. Prepayments are allowed but carry penalties of 3%, 2%, and 1% of outstanding principal in the first three years. The Company unconditionally guarantees all borrower obligations, used $3,135,704 of net proceeds to repay an existing secured loan with the same lender, and plans to apply the remaining proceeds to maintenance, repairs and onboarding new tenants on various properties.
J. W. Mays, Inc. reported weaker results for the three and six months ended January 31, 2026. For the quarter, revenues from operations were $5,211,482 compared with $5,643,444 in the 2025 period, while net loss from operations widened to $(508,960), or $(0.25) per share, from $(157,681), or $(0.08) per share.
For the six-month period, revenues from operations were $10,462,896 versus $11,182,573 a year earlier, and net loss from operations increased to $(842,987), or $(0.42) per share, from $(131,024), or $(0.07) per share.
J.W. Mays, Inc. reported a much larger loss as rental income declined and costs rose. For the quarter ended January 31, 2026, net loss was $508,960, or $(0.25) per share, versus $157,681, or $(0.08) per share a year earlier, as revenues fell to $5.21M from $5.64M mainly due to lost tenants and rent concessions.
For the six months, net loss widened to $842,987 from $131,024 as revenues declined to $10.46M from $11.18M and real estate operating costs increased. Operating cash flow remained positive at $1.19M, but cash and cash equivalents were $434,420 and the company expects about $12M of capital expenditures over the next 12 months, to be funded with operations and new borrowings.
Total assets were $88.38M and shareholders’ equity was $51.92M as of January 31, 2026. The company has a single bank mortgage of about $3.15M that the lender can demand in full at any time through April 1, 2040, which management notes affects perceived short-term liquidity even though it is currently in compliance and the interest rate is favorable.