Mack-Cali Realty Corporation (NYSE:CLI) has been assigned a consensus rating of “Hold” from the nine research firms that are presently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $29.80.
A number of research firms have commented on CLI. Zacks Investment Research raised shares of Mack-Cali Realty Corporation from a “sell” rating to a “hold” rating in a research note on Monday, March 20th. Deutsche Bank AG upped their price objective on shares of Mack-Cali Realty Corporation from $27.00 to $28.00 and gave the company a “hold” rating in a research note on Monday, March 20th. Finally, BidaskClub raised shares of Mack-Cali Realty Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, June 17th.
Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Mack-Cali Realty Corporation by 1.3% in the first quarter. Vanguard Group Inc. now owns 13,805,834 shares of the real estate investment trust’s stock worth $371,929,000 after buying an additional 177,604 shares during the period. BlackRock Inc. raised its stake in Mack-Cali Realty Corporation by 6,678.9% in the first quarter. BlackRock Inc. now owns 11,568,140 shares of the real estate investment trust’s stock worth $311,648,000 after buying an additional 11,397,492 shares during the period. LSV Asset Management raised its stake in Mack-Cali Realty Corporation by 2.4% in the first quarter. LSV Asset Management now owns 3,628,591 shares of the real estate investment trust’s stock worth $97,754,000 after buying an additional 86,597 shares during the period. Bank of New York Mellon Corp raised its stake in Mack-Cali Realty Corporation by 60.3% in the first quarter. Bank of New York Mellon Corp now owns 3,185,577 shares of the real estate investment trust’s stock worth $85,820,000 after buying an additional 1,198,902 shares during the period. Finally, Frontier Capital Management Co. LLC raised its stake in Mack-Cali Realty Corporation by 3.0% in the first quarter. Frontier Capital Management Co. LLC now owns 2,163,551 shares of the real estate investment trust’s stock worth $58,286,000 after buying an additional 62,284 shares during the period. 98.80% of the stock is owned by institutional investors and hedge funds.
Shares of Mack-Cali Realty Corporation (CLI) traded up 0.37% during trading on Monday, reaching $26.81. 33,876 shares of the company’s stock were exchanged. The firm has a market capitalization of $2.41 billion, a PE ratio of 37.13 and a beta of 1.17. Mack-Cali Realty Corporation has a 52 week low of $24.59 and a 52 week high of $29.70. The company’s 50-day moving average price is $27.35 and its 200 day moving average price is $27.81.
Mack-Cali Realty Corporation (NYSE:CLI) last posted its quarterly earnings data on Tuesday, May 9th. The real estate investment trust reported $0.56 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by $0.01. Mack-Cali Realty Corporation had a net margin of 10.66% and a return on equity of 3.77%. The business had revenue of $149.90 million for the quarter, compared to the consensus estimate of $151.22 million. During the same quarter last year, the business posted $0.69 EPS. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. Analysts predict that Mack-Cali Realty Corporation will post $0.23 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Thursday, July 6th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.00%. This is a positive change from Mack-Cali Realty Corporation’s previous quarterly dividend of $0.15. The ex-dividend date was Monday, July 3rd. Mack-Cali Realty Corporation’s dividend payout ratio is 111.11%.
About Mack-Cali Realty Corporation
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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