Mack Cali Realty (CLI) Issues FY18 Earnings Guidance

Mack Cali Realty (NYSE:CLI) issued an update on its FY18 earnings guidance on Wednesday morning. The company provided EPS guidance of $1.81-1.85 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.81.

NYSE:CLI traded down $0.18 during mid-day trading on Friday, hitting $20.03. 7,776 shares of the stock traded hands, compared to its average volume of 509,465. The stock has a market cap of $1.84 billion, a P/E ratio of 9.02 and a beta of 1.19. Mack Cali Realty has a 12-month low of $15.86 and a 12-month high of $23.45. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 1.58.

Mack Cali Realty (NYSE:CLI) last issued its quarterly earnings data on Wednesday, August 1st. The real estate investment trust reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.44 by ($0.49). The firm had revenue of $126.58 million for the quarter, compared to analysts’ expectations of $133.28 million. Mack Cali Realty had a net margin of 13.89% and a return on equity of 4.70%. Mack Cali Realty’s revenue was down 90.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.60 EPS. On average, equities analysts forecast that Mack Cali Realty will post 1.83 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 12th. Investors of record on Tuesday, October 2nd were paid a dividend of $0.20 per share. The ex-dividend date was Monday, October 1st. This represents a $0.80 annualized dividend and a yield of 3.99%. Mack Cali Realty’s dividend payout ratio is currently 35.87%.

CLI has been the subject of several recent analyst reports. Zacks Investment Research cut shares of Mack Cali Realty from a hold rating to a sell rating in a research note on Tuesday, October 16th. Deutsche Bank boosted their price objective on shares of 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 cut shares of Mack Cali Realty from a hold rating to a sell rating in a research note on Wednesday, October 3rd. Stifel Nicolaus reaffirmed a hold rating and set a $23.00 price objective (up previously from $21.00) on shares of Mack Cali Realty in a research note on Thursday, August 16th. Finally, Barclays reaffirmed a sell rating and set a $18.00 price objective on shares of Mack Cali Realty in a research note on Sunday, October 14th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $21.80.

In other Mack Cali Realty news, EVP Robert Andrew Marshall sold 1,426 shares of Mack Cali Realty stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $21.28, for a total transaction of $30,345.28. Following the completion of the sale, the executive vice president now directly owns 1,426 shares in the company, valued at $30,345.28. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 6.83% of the company’s stock.

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

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