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.
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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