Deutsche Bank Boosts Mack Cali Realty Corp Price Target to $21.00 (CLI)
Equities researchers at Deutsche Bank lifted their target price on shares of Mack Cali Realty Corp (NYSE:CLI) from $20.00 to $21.00 in a research report issued on Thursday. Deutsche Bank’s target price would suggest a potential downside of 3.23% from the company’s current price.
Shares of Mack Cali Realty Corp (NYSE:CLI) opened at 21.70 on Thursday. Mack Cali Realty Corp has a 1-year low of $19.05 and a 1-year high of $23.23. The stock’s 50-day moving average is $21.24 and its 200-day moving average is $21.22. The company’s market cap is $1.931 billion.
Mack Cali Realty Corp (NYSE:CLI) last released its earnings data on Thursday, July 24th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.03. The company had revenue of $160.30 million for the quarter, compared to the consensus estimate of $156.50 million. During the same quarter in the previous year, the company posted $0.65 earnings per share. The company’s revenue for the quarter was down 4.8% on a year-over-year basis. On average, analysts predict that Mack Cali Realty Corp will post $1.73 earnings per share for the current fiscal year.
Separately, analysts at Zacks reiterated a “neutral” rating on shares of Mack Cali Realty Corp in a research note on Tuesday, August 12th. They now have a $22.00 price target on the stock. Two analysts have rated the stock with a sell rating and three have given a hold rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $21.00.
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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