Mack Cali Realty (CLI) Upgraded to “Hold” by ValuEngine

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ValuEngine upgraded shares of Mack Cali Realty (NYSE:CLI) from a sell rating to a hold rating in a research note published on Friday.

CLI has been the topic of a number of other reports. Deutsche Bank boosted their price objective on Mack Cali Realty from $20.00 to $21.00 and gave the company a hold rating in a research note on Tuesday, June 26th. Stifel Nicolaus reduced their target price on Mack Cali Realty from $23.00 to $21.00 and set a hold rating for the company in a research report on Tuesday, September 25th. JPMorgan Chase & Co. cut Mack Cali Realty from an overweight rating to a neutral rating in a research report on Friday, October 5th. Barclays restated a sell rating and set a $18.00 target price on shares of Mack Cali Realty in a research report on Sunday, October 14th. Finally, Zacks Investment Research cut Mack Cali Realty from a hold rating to a sell rating in a research report on Monday, July 9th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $21.80.

Shares of NYSE:CLI traded up $0.33 during midday trading on Friday, reaching $20.28. 389,613 shares of the company traded hands, compared to its average volume of 637,076. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.83 and a current ratio of 0.83. Mack Cali Realty has a 12 month low of $15.86 and a 12 month high of $23.45. The firm has a market cap of $1.80 billion, a price-to-earnings ratio of 9.09 and a beta of 1.19.

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

The firm also recently announced a quarterly dividend, which was paid on Friday, October 12th. Investors of record on Tuesday, October 2nd were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.94%. The ex-dividend date was Monday, October 1st. Mack Cali Realty’s payout ratio is 35.87%.

In related news, EVP Robert Andrew Marshall sold 1,426 shares of the business’s stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $21.28, for a total transaction of $30,345.28. Following the completion of the transaction, the executive vice president now directly owns 1,426 shares in the company, valued at $30,345.28. The transaction was disclosed in a document filed with the SEC, which is available through this link. 6.83% of the stock is owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. First Hawaiian Bank purchased a new stake in Mack Cali Realty during the 3rd quarter valued at about $123,000. State of Alaska Department of Revenue boosted its holdings in Mack Cali Realty by 89.9% during the 2nd quarter. State of Alaska Department of Revenue now owns 7,424 shares of the real estate investment trust’s stock valued at $150,000 after acquiring an additional 3,514 shares during the period. Point72 Hong Kong Ltd raised its position in Mack Cali Realty by 729.3% during the 2nd quarter. Point72 Hong Kong Ltd now owns 8,973 shares of the real estate investment trust’s stock valued at $182,000 after purchasing an additional 7,891 shares during the last quarter. Verition Fund Management LLC bought a new position in Mack Cali Realty during the 2nd quarter valued at approximately $284,000. Finally, Northwestern Mutual Investment Management Company LLC raised its position in Mack Cali Realty by 56.7% during the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 18,444 shares of the real estate investment trust’s stock valued at $308,000 after purchasing an additional 6,677 shares during the last quarter. Hedge funds and other institutional investors own 98.07% 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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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Mack Cali Realty (NYSE:CLI)

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