Mack Cali Realty (NYSE:CLI) Rating Reiterated by Evercore ISI

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Evercore ISI reaffirmed their hold rating on shares of Mack Cali Realty (NYSE:CLI) in a report issued on Sunday morning, AnalystRatings.com reports. Evercore ISI currently has a $24.00 price objective on the real estate investment trust’s stock.

Other equities analysts have also recently issued research reports about the stock. ValuEngine cut shares of Mack Cali Realty from a buy rating to a hold rating in a report on Tuesday, August 6th. Zacks Investment Research raised shares of Mack Cali Realty from a sell rating to a hold rating and set a $19.00 target price on the stock in a report on Tuesday, May 28th. Stifel Nicolaus raised shares of Mack Cali Realty from a hold rating to a buy rating and set a $21.73 target price on the stock in a report on Tuesday, April 16th. BTIG Research reissued a buy rating and issued a $30.00 target price (up previously from $26.00) on shares of Mack Cali Realty in a report on Thursday, June 13th. Finally, TheStreet raised shares of Mack Cali Realty from a c rating to a b- rating in a report on Monday, May 6th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. Mack Cali Realty currently has a consensus rating of Hold and a consensus target price of $22.62.

Shares of NYSE CLI opened at $21.82 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.43. The stock has a 50-day simple moving average of $23.20. Mack Cali Realty has a 52-week low of $18.74 and a 52-week high of $24.88. The company has a market capitalization of $2.02 billion, a PE ratio of 11.92 and a beta of 1.02.

Mack Cali Realty (NYSE:CLI) last issued its earnings results on Wednesday, August 7th. The real estate investment trust reported ($0.43) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.84). Mack Cali Realty had a return on equity of 14.57% and a net margin of 49.47%. The business had revenue of $130.46 million during the quarter, compared to the consensus estimate of $132.61 million. During the same period in the prior year, the business earned $0.45 EPS. The business’s revenue was up 3.1% on a year-over-year basis. On average, research analysts anticipate that Mack Cali Realty will post 1.62 earnings per share for the current year.

In other Mack Cali Realty news, Director Alan R. Batkin purchased 2,000 shares of the business’s stock in a transaction dated Wednesday, June 19th. The shares were bought at an average price of $23.95 per share, with a total value of $47,900.00. Following the completion of the acquisition, the director now owns 2,000 shares in the company, valued at approximately $47,900. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 6.83% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in CLI. Advisor Group Inc. raised its holdings in shares of Mack Cali Realty by 33.1% during the second quarter. Advisor Group Inc. now owns 1,849 shares of the real estate investment trust’s stock valued at $43,000 after buying an additional 460 shares during the last quarter. Tower Research Capital LLC TRC bought a new stake in Mack Cali Realty during the second quarter worth approximately $51,000. Marshall Wace North America L.P. raised its holdings in Mack Cali Realty by 35.9% during the first quarter. Marshall Wace North America L.P. now owns 3,408 shares of the real estate investment trust’s stock worth $76,000 after purchasing an additional 900 shares in the last quarter. Janney Montgomery Scott LLC bought a new stake in Mack Cali Realty during the first quarter worth approximately $210,000. Finally, Amica Retiree Medical Trust bought a new stake in Mack Cali Realty during the first quarter worth approximately $238,000. 92.66% of the stock is currently owned by institutional investors.

Mack Cali Realty Company Profile

One of the country's leading real estate investment trusts (REITs), Mack-Cali Realty Corporation is an owner, manager and developer of premier office and multifamily properties in select waterfront and transit-oriented markets throughout the Northeast. Mack-Cali is headquartered in Jersey City, New Jersey, and is the visionary behind the city's flourishing waterfront, where the company is leading development, improvement and place-making initiatives for Harborside, a master-planned destination comprised of class A office, luxury apartments, diverse retail and restaurants, and public spaces.

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Analyst Recommendations for Mack Cali Realty (NYSE:CLI)

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