Shares of Mack Cali Realty Corp (NYSE:CLI) have received an average recommendation of “Hold” from the nine analysts that are presently covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $27.60.
CLI has been the subject of several recent research reports. Zacks Investment Research downgraded Mack Cali Realty from a “hold” rating to a “sell” rating in a research note on Tuesday, September 12th. Citigroup reduced their price target on Mack Cali Realty from $27.50 to $26.00 and set a “neutral” rating for the company in a research note on Thursday, September 21st. Stifel Nicolaus restated a “buy” rating and issued a $30.00 price target on shares of Mack Cali Realty in a research note on Thursday, September 21st. Finally, ValuEngine upgraded Mack Cali Realty from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd.
Shares of Mack Cali Realty (CLI) opened at $21.36 on Monday. The stock has a market capitalization of $1,920.56, a price-to-earnings ratio of 92.87, a P/E/G ratio of 2.95 and a beta of 1.19. Mack Cali Realty has a one year low of $21.15 and a one year high of $29.70. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 1.69.
Mack Cali Realty (NYSE:CLI) last released its quarterly earnings results on Tuesday, November 7th. The real estate investment trust reported $0.57 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by ($0.01). The firm had revenue of $160.02 million during the quarter, compared to the consensus estimate of $156.18 million. Mack Cali Realty had a net margin of 4.14% and a return on equity of 1.53%. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.60 earnings per share. equities analysts predict that Mack Cali Realty will post 2.26 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Wednesday, January 3rd will be issued a $0.20 dividend. The ex-dividend date is Tuesday, January 2nd. This represents a $0.80 annualized dividend and a yield of 3.75%. Mack Cali Realty’s dividend payout ratio is presently 347.84%.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Teachers Retirement System of The State of Kentucky raised its holdings in Mack Cali Realty by 0.6% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 16,080 shares of the real estate investment trust’s stock valued at $436,000 after acquiring an additional 100 shares in the last quarter. Prudential Financial Inc. raised its holdings in Mack Cali Realty by 40.6% in the 3rd quarter. Prudential Financial Inc. now owns 534,818 shares of the real estate investment trust’s stock valued at $12,681,000 after acquiring an additional 154,320 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Mack Cali Realty by 53.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 5,548,255 shares of the real estate investment trust’s stock valued at $131,549,000 after acquiring an additional 1,932,241 shares in the last quarter. Foundry Partners LLC raised its holdings in Mack Cali Realty by 8.5% in the 3rd quarter. Foundry Partners LLC now owns 510,004 shares of the real estate investment trust’s stock valued at $12,092,000 after acquiring an additional 39,781 shares in the last quarter. Finally, Commonwealth Bank of Australia raised its holdings in Mack Cali Realty by 8.6% in the 3rd quarter. Commonwealth Bank of Australia now owns 934,359 shares of the real estate investment trust’s stock valued at $22,150,000 after acquiring an additional 73,869 shares in the last quarter. 99.16% of the stock is owned by hedge funds and other institutional investors.
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About Mack Cali Realty
Mack-Cali Realty Corporation is a self-administered and self-managed real estate investment trust (REIT). The Company owns and operates a real estate portfolio of Class A office and office/flex properties. It operates in three segments: commercial and other real estate, multi-family real estate and multi-family services.
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