Analysts expect Mack Cali Realty Corp (NYSE:CLI) to announce sales of $152.84 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Mack Cali Realty Corp’s earnings. The highest sales estimate is $156.48 million and the lowest is $148.68 million. Mack Cali Realty Corp posted sales of $149.23 million during the same quarter last year, which would indicate a positive year over year growth rate of 2.4%. The firm is scheduled to issue its next earnings results on Tuesday, August 1st.

On average, analysts expect that Mack Cali Realty Corp will report full year sales of $152.84 million for the current financial year, with estimates ranging from $562.31 million to $617.84 million. For the next year, analysts expect that the company will report sales of $606.05 million per share, with estimates ranging from $594.72 million to $620.57 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Mack Cali Realty Corp.

Mack Cali Realty Corp (NYSE:CLI) last posted its quarterly earnings data on Tuesday, May 9th. The real estate investment trust reported $0.56 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.57 by $0.01. Mack Cali Realty Corp had a return on equity of 4.10% and a net margin of 11.60%. The firm had revenue of $149.90 million during the quarter, compared to analysts’ expectations of $151.22 million. During the same period last year, the company earned $0.69 earnings per share. The business’s revenue for the quarter was down 2.0% compared to the same quarter last year.

Several equities analysts have recently commented on CLI shares. Barclays PLC restated an “underweight” rating and issued a $27.00 price objective (down from $28.00) on shares of Mack Cali Realty Corp in a report on Monday, January 23rd. Deutsche Bank AG upped their price objective on shares of Mack Cali Realty Corp from $27.00 to $28.00 and gave the stock a “hold” rating in a report on Monday, March 20th. Finally, Zacks Investment Research lowered shares of Mack Cali Realty Corp from a “buy” rating to a “hold” rating in a report on Tuesday, January 24th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $29.83.

Shares of Mack Cali Realty Corp (NYSE:CLI) opened at 26.65 on Friday. The stock has a market capitalization of $2.39 billion, a price-to-earnings ratio of 20.45 and a beta of 1.09. Mack Cali Realty Corp has a 52-week low of $24.30 and a 52-week high of $29.70. The company has a 50-day moving average of $27.36 and a 200-day moving average of $27.58.

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In related news, Director Alan G. Philibosian sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, March 17th. The shares were sold at an average price of $27.22, for a total transaction of $408,300.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 6.73% of the stock is owned by corporate insiders.

Large investors have recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of Mack Cali Realty Corp by 6,678.9% in the first quarter. BlackRock Inc. now owns 11,568,140 shares of the real estate investment trust’s stock valued at $311,648,000 after buying an additional 11,397,492 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Mack Cali Realty Corp by 7.4% in the first quarter. Renaissance Technologies LLC now owns 1,374,500 shares of the real estate investment trust’s stock valued at $37,029,000 after buying an additional 94,600 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Mack Cali Realty Corp by 3.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,253,554 shares of the real estate investment trust’s stock valued at $33,770,000 after buying an additional 47,060 shares during the last quarter. Liberty Mutual Group Asset Management Inc. increased its stake in shares of Mack Cali Realty Corp by 0.3% in the first quarter. Liberty Mutual Group Asset Management Inc. now owns 40,858 shares of the real estate investment trust’s stock valued at $1,101,000 after buying an additional 136 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Mack Cali Realty Corp by 9.8% in the first quarter. Geode Capital Management LLC now owns 827,973 shares of the real estate investment trust’s stock valued at $22,305,000 after buying an additional 73,584 shares during the last quarter.

Mack Cali Realty Corp Company Profile

Mack-Cali Realty Corporation is a self-administered and self-managed real estate investment trust (REIT). The Company owns and operates a real estate portfolio of Class A office and office/flex properties. It operates in three segments: commercial and other real estate, multi-family real estate and multi-family services.

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