Mack-Cali Realty Corp. Reaches New 12-Month Low at $20.60 (CLI)
Shares of Mack-Cali Realty Corp. (NYSE:CLI) hit a new 52-week low during trading on Wednesday, AR Network reports. The stock traded as low as $20.60 and last traded at $21.54, with a volume of 784,928 shares trading hands. The stock had previously closed at $20.88.
A number of analysts have recently weighed in on CLI shares. Analysts at Cowen and Company cut their price target on shares of Mack-Cali Realty Corp. (NYSE:CLI) from $30.00 to $25.00 in a research note to investors on Thursday, September 12th. They now have an “outperform” rating on the stock. Separately, analysts at Zacks downgraded shares of Mack-Cali Realty Corp. (NYSE:CLI) from a “neutral” rating to an “underperform” rating in a research note to investors on Wednesday, August 28th. They now have a $20.00 price target on the stock. Finally, analysts at Barclays Capital cut their price target on shares of Mack-Cali Realty Corp. (NYSE:CLI) from $23.00 to $22.00 in a research note to investors on Monday, August 26th. They now have an “equal weight” rating on the stock.
Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $25.50.
Mack-Cali Realty Corp. has a one year low of $20.60 and a one year high of $29.39. The stock’s 50-day moving average is $22.03 and its 200-day moving average is $25.49. The company has a market cap of $1.932 billion and a P/E ratio of 46.09.
Mack-Cali Realty Corp. (NYSE:CLI) last released its earnings data on Thursday, July 25th. The company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.03. The company had revenue of $177.93 million for the quarter, compared to the consensus estimate of $172.21 million. During the same quarter in the prior year, the company posted $0.62 earnings per share. Mack-Cali Realty Corp.’s revenue was up 3.4% compared to the same quarter last year. Analysts expect that Mack-Cali Realty Corp. will post $2.41 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, October 11th. Stockholders of record on Thursday, October 3rd will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 5.47%. The ex-dividend date is Tuesday, October 1st.
Mack-Cali Realty Corporation is a self-administered and self-managed real estate investment trust (NYSE:CLI), which owns and operates a real estate portfolios consisted of Class A office and office/flex properties located in the Northeast.
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