Mack Cali Realty Corp (CLI) Receives $22.75 Consensus PT from Brokerages

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Shares of Mack Cali Realty Corp (NYSE:CLI) have received an average recommendation of “Hold” from the nine research firms that are currently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $22.75.

Several research firms have weighed in on CLI. Citigroup boosted their price target on shares of Mack Cali Realty from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, June 28th. Deutsche Bank boosted their price target on shares of Mack Cali Realty from $21.00 to $22.00 and gave the stock a “hold” rating in a research note on Wednesday, August 29th. ValuEngine downgraded shares of Mack Cali Realty from a “hold” rating to a “sell” rating in a research note on Thursday, September 27th. Stifel Nicolaus lowered their price target on shares of Mack Cali Realty from $23.00 to $21.00 and set a “hold” rating for the company in a research note on Tuesday, September 25th. Finally, Zacks Investment Research downgraded shares of Mack Cali Realty from a “hold” rating to a “sell” rating in a research note on Monday, July 9th.

In other Mack Cali Realty news, EVP Robert Andrew Marshall sold 1,426 shares of the business’s stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $21.28, for a total value of $30,345.28. Following the transaction, the executive vice president now owns 1,426 shares in the company, valued at $30,345.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.83% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue increased its position in shares of Mack Cali Realty by 290.3% in the third quarter. State of Alaska Department of Revenue now owns 28,978 shares of the real estate investment trust’s stock valued at $615,000 after acquiring an additional 21,554 shares during the period. United Services Automobile Association increased its position in shares of Mack Cali Realty by 43.8% in the second quarter. United Services Automobile Association now owns 56,134 shares of the real estate investment trust’s stock valued at $1,138,000 after acquiring an additional 17,100 shares during the period. Public Employees Retirement System of Ohio increased its position in shares of Mack Cali Realty by 39.9% in the second quarter. Public Employees Retirement System of Ohio now owns 187,790 shares of the real estate investment trust’s stock valued at $3,808,000 after acquiring an additional 53,516 shares during the period. Verition Fund Management LLC purchased a new position in shares of Mack Cali Realty in the second quarter valued at about $284,000. Finally, Tower Research Capital LLC TRC increased its position in shares of Mack Cali Realty by 67.2% in the second quarter. Tower Research Capital LLC TRC now owns 16,360 shares of the real estate investment trust’s stock valued at $332,000 after acquiring an additional 6,577 shares during the period. Hedge funds and other institutional investors own 98.95% of the company’s stock.

NYSE CLI opened at $19.89 on Wednesday. Mack Cali Realty has a 52-week low of $15.86 and a 52-week high of $23.91. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 1.58. The firm has a market cap of $1.92 billion, a PE ratio of 8.92 and a beta of 1.19.

Mack Cali Realty (NYSE:CLI) last posted its quarterly earnings data on Wednesday, August 1st. The real estate investment trust reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.49). Mack Cali Realty had a return on equity of 4.70% and a net margin of 13.89%. The company had revenue of $126.58 million for the quarter, compared to the consensus estimate of $133.28 million. During the same period in the prior year, the firm posted $0.60 earnings per share. The business’s revenue was down 90.0% on a year-over-year basis. On average, equities analysts expect that Mack Cali Realty will post 1.86 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 12th. Shareholders of record on Tuesday, October 2nd were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.02%. The ex-dividend date was Monday, October 1st. Mack Cali Realty’s payout ratio is 35.87%.

About Mack Cali Realty

Mack-Cali Realty Corporation is fully-integrated and self-managed company, Mack-Cali has provided world-class management, leasing, and development services throughout New Jersey and the surrounding region for two decades. By regularly investing in its properties and innovative lifestyle amenity packages, Mack-Cali creates environments that empower tenants and residents to reimagine the way they work and live.

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Analyst Recommendations for Mack Cali Realty (NYSE:CLI)

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