Shares of Mack Cali Realty Corp (NYSE:CLI) have earned a consensus recommendation of “Hold” from the nine analysts that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $21.80.
CLI has been the subject of a number of research reports. ValuEngine upgraded shares of Mack Cali Realty from a “sell” rating to a “hold” rating in a research note on Wednesday, August 15th. Stifel Nicolaus reiterated a “hold” rating and set a $23.00 target price (up from $21.00) on shares of Mack Cali Realty in a research note on Thursday, August 16th. Deutsche Bank boosted their target price 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. JPMorgan Chase & Co. lowered shares of Mack Cali Realty from an “overweight” rating to a “neutral” rating in a research note on Friday, October 5th. Finally, Barclays reiterated a “sell” rating and set a $18.00 target price on shares of Mack Cali Realty in a research note on Sunday, October 14th.
Shares of CLI opened at $20.42 on Friday. The firm has a market cap of $1.81 billion, a price-to-earnings ratio of 9.16 and a beta of 1.18. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 1.67. Mack Cali Realty has a 1-year low of $15.86 and a 1-year high of $23.45.
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 12th. Stockholders of record on Tuesday, October 2nd were paid a $0.20 dividend. The ex-dividend date was Monday, October 1st. This represents a $0.80 annualized dividend and a dividend yield of 3.92%. Mack Cali Realty’s dividend payout ratio (DPR) is 35.87%.
In other news, EVP Robert Andrew Marshall sold 1,426 shares of the company’s stock in a transaction on 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 sale, the executive vice president now directly owns 1,426 shares in the company, valued at approximately $30,345.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 6.83% of the company’s stock.
Several large investors have recently bought and sold shares of CLI. First Hawaiian Bank purchased a new stake in shares of Mack Cali Realty in the 3rd quarter worth $123,000. State of Alaska Department of Revenue increased its stake in shares of Mack Cali Realty by 89.9% in the 2nd quarter. State of Alaska Department of Revenue now owns 7,424 shares of the real estate investment trust’s stock worth $150,000 after purchasing an additional 3,514 shares in the last quarter. Point72 Hong Kong Ltd increased its stake in shares of Mack Cali Realty by 729.3% in the 2nd quarter. Point72 Hong Kong Ltd now owns 8,973 shares of the real estate investment trust’s stock worth $182,000 after purchasing an additional 7,891 shares in the last quarter. Engineers Gate Manager LP purchased a new stake in shares of Mack Cali Realty in the 3rd quarter worth $210,000. Finally, Verition Fund Management LLC purchased a new stake in shares of Mack Cali Realty in the 2nd quarter worth $284,000. Hedge funds and other institutional investors own 98.06% of the company’s stock.
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.
Featured Article: Earnings Per Share (EPS)
Receive News & Ratings for Mack Cali Realty Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mack Cali Realty and related companies with MarketBeat.com's FREE daily email newsletter.