Mack Cali Realty Corp Expected to Earn FY2021 Earnings of $1.69 Per Share (NYSE:CLI)

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Mack Cali Realty Corp (NYSE:CLI) – Stock analysts at SunTrust Banks lifted their FY2021 earnings per share (EPS) estimates for shares of Mack Cali Realty in a research note issued on Wednesday, June 12th. SunTrust Banks analyst M. Lewis now anticipates that the real estate investment trust will post earnings per share of $1.69 for the year, up from their prior forecast of $1.64. SunTrust Banks also issued estimates for Mack Cali Realty’s FY2022 earnings at $1.85 EPS.

Other equities analysts have also issued research reports about the stock. TheStreet upgraded shares of Mack Cali Realty from a “c” rating to a “b-” rating in a report on Monday, May 6th. Stifel Nicolaus upgraded shares of Mack Cali Realty from a “hold” rating to a “buy” rating and set a $21.73 target price on the stock in a report on Tuesday, April 16th. BTIG Research upgraded shares of Mack Cali Realty from a “neutral” rating to a “buy” rating and set a $26.00 target price on the stock in a report on Tuesday, March 19th. Zacks Investment Research upgraded shares of Mack Cali Realty from a “sell” rating to a “hold” rating and set a $19.00 target price on the stock in a report on Tuesday, May 28th. Finally, Deutsche Bank lifted their target price on shares of Mack Cali Realty from $21.00 to $23.00 and gave the company a “hold” rating in a report on Wednesday, April 10th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $21.96.

NYSE:CLI opened at $24.08 on Friday. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 1.38. The firm has a market cap of $2.21 billion, a P/E ratio of 13.16 and a beta of 1.05. Mack Cali Realty has a twelve month low of $18.74 and a twelve month high of $24.88.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Tuesday, July 2nd will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, July 1st. This represents a $0.80 annualized dividend and a dividend yield of 3.32%. Mack Cali Realty’s payout ratio is 43.72%.

Large investors have recently bought and sold shares of the stock. BlackRock Inc. lifted its holdings in Mack Cali Realty by 1.5% in the 4th quarter. BlackRock Inc. now owns 13,220,528 shares of the real estate investment trust’s stock worth $258,991,000 after buying an additional 192,343 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Mack Cali Realty by 7.9% in the 1st quarter. Renaissance Technologies LLC now owns 4,759,000 shares of the real estate investment trust’s stock worth $105,650,000 after buying an additional 348,400 shares in the last quarter. Frontier Capital Management Co. LLC lifted its holdings in Mack Cali Realty by 0.7% in the 1st quarter. Frontier Capital Management Co. LLC now owns 2,676,565 shares of the real estate investment trust’s stock worth $59,420,000 after buying an additional 18,650 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Mack Cali Realty by 2.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,563,479 shares of the real estate investment trust’s stock worth $34,710,000 after buying an additional 35,261 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Mack Cali Realty by 0.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,402,889 shares of the real estate investment trust’s stock worth $31,144,000 after buying an additional 4,555 shares in the last quarter. Institutional investors and hedge funds own 92.72% of the company’s stock.

About Mack Cali Realty

One of the country's leading real estate investment trusts (REITs), Mack-Cali Realty Corporation is an owner, manager and developer of premier office and multifamily properties in select waterfront and transit-oriented markets throughout the Northeast. Mack-Cali is headquartered in Jersey City, New Jersey, and is the visionary behind the city's flourishing waterfront, where the company is leading development, improvement and place-making initiatives for Harborside, a master-planned destination comprised of class A office, luxury apartments, diverse retail and restaurants, and public spaces.

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Earnings History and Estimates for Mack Cali Realty (NYSE:CLI)

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