Mack-Cali Realty Corp. Price Target Cut to $26.00 (CLI)
Research analysts at JPMorgan Chase & Co. dropped their price target on shares of Mack-Cali Realty Corp. (NYSE:CLI) from $27.00 to $26.00 in a report released on Friday, Stock Ratings News reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.’s target price would indicate a potential upside of 19.27% from the stock’s previous close.
A number of other firms have also recently commented on CLI. Analysts at Cowen and Company cut their price target on shares of Mack-Cali Realty Corp. 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. 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 cut their price target on shares of Mack-Cali Realty Corp. 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, three have given a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $25.17.
Shares of Mack-Cali Realty Corp. (NYSE:CLI) opened at 21.80 on Friday. Mack-Cali Realty Corp. has a 52 week low of $20.71 and a 52 week high of $29.39. The stock has a 50-day moving average of $22.23 and a 200-day moving average of $25.66. The company has a market cap of $1.919 billion and a price-to-earnings ratio of 47.99.
Mack-Cali Realty Corp. (NYSE:CLI) last released its earnings data on Thursday, October 24th. The company reported $0.57 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.58 by $0.01. The company had revenue of $162.51 million for the quarter, compared to the consensus estimate of $176.73 million. During the same quarter in the prior year, the company posted $0.65 earnings per share. The company’s quarterly revenue was up 3.6% on a year-over-year basis. Analysts expect that Mack-Cali Realty Corp. will post $2.40 EPS for the current fiscal year.
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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