Foundry Partners LLC Increases Stake in Mack-Cali Realty Corporation (NYSE:CLI)

Foundry Partners LLC boosted its position in Mack-Cali Realty Corporation (NYSE:CLI) by 6.3% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 470,223 shares of the real estate investment trust’s stock after buying an additional 27,747 shares during the period. Foundry Partners LLC’s holdings in Mack-Cali Realty Corporation were worth $12,762,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. LSV Asset Management boosted its position 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. Sumitomo Mitsui Trust Holdings Inc. boosted its position in Mack-Cali Realty Corporation by 1.2% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 88,275 shares of the real estate investment trust’s stock worth $2,378,000 after buying an additional 1,043 shares during the period. State Treasurer State of Michigan boosted its position in Mack-Cali Realty Corporation by 1.1% in the first quarter. State Treasurer State of Michigan now owns 36,500 shares of the real estate investment trust’s stock worth $983,000 after buying an additional 400 shares during the period. Great West Life Assurance Co. Can boosted its position in Mack-Cali Realty Corporation by 3.6% in the first quarter. Great West Life Assurance Co. Can now owns 95,502 shares of the real estate investment trust’s stock worth $2,572,000 after buying an additional 3,297 shares during the period. Finally, Oregon Public Employees Retirement Fund boosted its position in Mack-Cali Realty Corporation by 1.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 31,300 shares of the real estate investment trust’s stock worth $843,000 after buying an additional 400 shares during the period. Institutional investors own 99.59% of the company’s stock.

Mack-Cali Realty Corporation (NYSE:CLI) opened at 24.34 on Friday. The stock’s market cap is $2.19 billion. Mack-Cali Realty Corporation has a 12-month low of $24.26 and a 12-month high of $29.70. The company has a 50-day moving average price of $26.38 and a 200 day moving average price of $27.33.

Mack-Cali Realty Corporation (NYSE:CLI) last issued its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by $0.01. Mack-Cali Realty Corporation had a negative return on equity of 1.21% and a negative net margin of 3.31%. The firm had revenue of $162.77 million during the quarter, compared to analyst estimates of $150.94 million. During the same quarter in the prior year, the firm earned $0.55 EPS. On average, equities research analysts predict that Mack-Cali Realty Corporation will post $0.23 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Shareholders of record on Thursday, July 6th were issued a $0.20 dividend. The ex-dividend date was Monday, July 3rd. This represents a $0.80 dividend on an annualized basis and a yield of 3.29%. This is a positive change from Mack-Cali Realty Corporation’s previous quarterly dividend of $0.15. Mack-Cali Realty Corporation’s payout ratio is currently -307.69%.

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Several brokerages have recently issued reports on CLI. BidaskClub upgraded Mack-Cali Realty Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, June 17th. Deutsche Bank AG increased their price objective on Mack-Cali Realty Corporation from $28.00 to $29.00 and gave the company a “hold” rating in a research note on Thursday, May 25th. Barclays PLC reduced their price objective on Mack-Cali Realty Corporation from $29.00 to $28.00 and set an “underweight” rating on the stock in a research note on Tuesday, July 18th. Finally, Evercore ISI reiterated an “outperform” rating and issued a $29.00 price objective (down from $33.00) on shares of Mack-Cali Realty Corporation in a research note on Wednesday. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. Mack-Cali Realty Corporation has a consensus rating of “Hold” and an average price target of $30.00.

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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Institutional Ownership by Quarter for Mack-Cali Realty Corporation (NYSE:CLI)

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