Mack Cali Realty (NYSE:CLI) Earns Hold Rating from Analysts at Evercore ISI

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Stock analysts at Evercore ISI initiated coverage on shares of Mack Cali Realty (NYSE:CLI) in a report released on Sunday, AnalystRatings.com reports. The firm set a “hold” rating and a $24.00 price target on the real estate investment trust’s stock. Evercore ISI’s price objective would indicate a potential upside of 4.76% from the stock’s previous close.

A number of other analysts have also commented on CLI. JPMorgan Chase & Co. lowered Mack Cali Realty from a “neutral” rating to an “underweight” rating and decreased their price objective for the stock from $25.00 to $20.00 in a report on Wednesday, December 18th. Citigroup reissued a “hold” rating and issued a $24.00 price objective on shares of Mack Cali Realty in a research note on Friday, December 20th. Zacks Investment Research upgraded Mack Cali Realty from a “sell” rating to a “hold” rating and set a $23.00 target price on the stock in a report on Monday, October 14th. Deutsche Bank lifted their target price on Mack Cali Realty from $23.00 to $24.00 and gave the company a “hold” rating in a research report on Thursday, October 10th. Finally, TheStreet downgraded Mack Cali Realty from a “b-” rating to a “c+” rating in a report on Wednesday, August 28th. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $23.82.

Mack Cali Realty stock opened at $22.91 on Friday. The firm has a market capitalization of $2.05 billion, a price-to-earnings ratio of 12.52 and a beta of 1.05. The firm’s fifty day moving average price is $21.49 and its two-hundred day moving average price is $22.14. Mack Cali Realty has a 1-year low of $18.74 and a 1-year high of $24.88. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 1.76.

Mack Cali Realty (NYSE:CLI) last posted its earnings results on Wednesday, October 30th. The real estate investment trust reported ($0.65) EPS for the quarter, missing the consensus estimate of $0.39 by ($1.04). Mack Cali Realty had a return on equity of 11.35% and a net margin of 39.15%. The business had revenue of $131.88 million for the quarter, compared to the consensus estimate of $120.85 million. During the same period in the previous year, the firm earned $0.43 earnings per share. The company’s revenue was down .2% on a year-over-year basis. On average, research analysts forecast that Mack Cali Realty will post 1.6 EPS for the current year.

A number of institutional investors have recently added to or reduced their stakes in CLI. Amundi Pioneer Asset Management Inc. increased its stake in Mack Cali Realty by 87.7% in the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 86,797 shares of the real estate investment trust’s stock valued at $2,021,000 after buying an additional 40,546 shares during the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of Mack Cali Realty by 7.4% in the third quarter. Daiwa Securities Group Inc. now owns 16,000 shares of the real estate investment trust’s stock valued at $347,000 after acquiring an additional 1,100 shares in the last quarter. Rhumbline Advisers increased its position in shares of Mack Cali Realty by 2.4% during the third quarter. Rhumbline Advisers now owns 309,774 shares of the real estate investment trust’s stock valued at $6,710,000 after acquiring an additional 7,223 shares during the last quarter. First Trust Advisors LP increased its position in shares of Mack Cali Realty by 51.6% during the third quarter. First Trust Advisors LP now owns 132,231 shares of the real estate investment trust’s stock valued at $2,864,000 after acquiring an additional 44,993 shares during the last quarter. Finally, Jennison Associates LLC purchased a new stake in shares of Mack Cali Realty during the second quarter valued at approximately $623,000. Institutional investors and hedge funds own 92.09% of the company’s stock.

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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