Voya Investment Management LLC decreased its position in Mack Cali Realty Corp (NYSE:CLI) by 8.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,265 shares of the real estate investment trust’s stock after selling 3,147 shares during the period. Voya Investment Management LLC’s holdings in Mack Cali Realty were worth $715,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue raised its stake in shares of Mack Cali Realty by 89.9% during the 2nd quarter. State of Alaska Department of Revenue now owns 7,424 shares of the real estate investment trust’s stock valued at $150,000 after buying an additional 3,514 shares during the last quarter. Koch Industries Inc. purchased a new position in shares of Mack Cali Realty during the 1st quarter valued at about $272,000. Northwestern Mutual Investment Management Company LLC raised its stake in shares of Mack Cali Realty by 56.7% during the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 18,444 shares of the real estate investment trust’s stock valued at $308,000 after buying an additional 6,677 shares during the last quarter. Laurion Capital Management LP purchased a new position in shares of Mack Cali Realty during the 2nd quarter valued at about $308,000. Finally, Xact Kapitalforvaltning AB purchased a new position in shares of Mack Cali Realty during the 1st quarter valued at about $313,000. Institutional investors and hedge funds own 98.95% of the company’s stock.
Shares of Mack Cali Realty stock opened at $19.89 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 1.58. Mack Cali Realty Corp has a twelve month low of $15.86 and a twelve month high of $23.91. The stock has a market capitalization of $1.92 billion, a P/E ratio of 8.92 and a beta of 1.19.
The firm also recently declared a quarterly dividend, which was paid on Friday, October 12th. Investors of record on Tuesday, October 2nd were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, October 1st. This represents a $0.80 annualized dividend and a dividend yield of 4.02%. Mack Cali Realty’s dividend payout ratio is presently 35.87%.
In related news, EVP Robert Andrew Marshall sold 1,426 shares of Mack Cali Realty stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $21.28, for a total value of $30,345.28. Following the completion of the transaction, the executive vice president now owns 1,426 shares in the company, valued at approximately $30,345.28. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 6.83% of the stock is owned by insiders.
A number of equities analysts have weighed in on CLI shares. Stifel Nicolaus reduced their price objective on 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. Deutsche Bank lifted their price objective on Mack Cali Realty from $21.00 to $22.00 and gave the company a “hold” rating in a research note on Wednesday, August 29th. ValuEngine upgraded Mack Cali Realty from a “sell” rating to a “hold” rating in a research note on Wednesday, August 15th. Citigroup lifted their price objective on Mack Cali Realty from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, June 28th. Finally, JPMorgan Chase & Co. lowered Mack Cali Realty from an “overweight” rating to a “neutral” rating in a research note on Friday, October 5th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. Mack Cali Realty presently has a consensus rating of “Hold” and an average price target of $22.40.
Mack Cali Realty Profile
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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