SunTrust Banks Comments on Mack-Cali Realty Corporation’s Q2 2017 Earnings (CLI)
Mack-Cali Realty Corporation (NYSE:CLI) – Analysts at SunTrust Banks upped their Q2 2017 EPS estimates for Mack-Cali Realty Corporation in a research note issued on Tuesday. SunTrust Banks analyst M. Lewis now expects that the real estate investment trust will post earnings of $0.63 per share for the quarter, up from their previous estimate of $0.61. SunTrust Banks also issued estimates for Mack-Cali Realty Corporation’s Q1 2018 earnings at $0.54 EPS, Q2 2018 earnings at $0.56 EPS, Q3 2018 earnings at $0.59 EPS, Q4 2018 earnings at $0.63 EPS, FY2018 earnings at $2.34 EPS, FY2019 earnings at $2.59 EPS, FY2020 earnings at $2.85 EPS and FY2021 earnings at $3.01 EPS.
A number of other equities analysts have also commented on CLI. Zacks Investment Research lowered shares of Mack-Cali Realty Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, March 29th. Deutsche Bank AG increased their price target on shares of Mack-Cali Realty Corporation from $27.00 to $28.00 and gave the stock a “hold” rating in a report on Monday, March 20th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. Mack-Cali Realty Corporation presently has a consensus rating of “Hold” and an average target price of $30.00.
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Shares of Mack-Cali Realty Corporation (NYSE:CLI) opened at 28.18 on Thursday. The firm has a market capitalization of $2.53 billion, a P/E ratio of 39.03 and a beta of 1.19. The firm’s 50-day moving average is $27.17 and its 200 day moving average is $27.79. Mack-Cali Realty Corporation has a 12 month low of $24.59 and a 12 month high of $29.70.
Mack-Cali Realty Corporation (NYSE:CLI) last issued its quarterly earnings data on Tuesday, May 9th. The real estate investment trust reported $0.56 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by $0.01. The company had revenue of $149.90 million for the quarter, compared to analyst estimates of $151.22 million. Mack-Cali Realty Corporation had a return on equity of 3.77% and a net margin of 10.66%. The company’s revenue was down 2.0% on a year-over-year basis. During the same quarter last year, the business earned $0.69 earnings per share.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Thursday, July 6th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.84%. This is a positive change from Mack-Cali Realty Corporation’s previous quarterly dividend of $0.15. Mack-Cali Realty Corporation’s dividend payout ratio (DPR) is currently 83.33%.
In related news, Director Alan G. Philibosian sold 15,000 shares of the stock in a transaction on Friday, March 17th. The shares were sold at an average price of $27.22, for a total transaction of $408,300.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 6.73% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. Ladenburg Thalmann Financial Services Inc. raised its position in Mack-Cali Realty Corporation by 0.9% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,493 shares of the real estate investment trust’s stock valued at $128,000 after buying an additional 39 shares in the last quarter. Nicholas Hoffman & Company LLC. raised its position in Mack-Cali Realty Corporation by 0.5% in the first quarter. Nicholas Hoffman & Company LLC. now owns 12,705 shares of the real estate investment trust’s stock valued at $342,000 after buying an additional 60 shares in the last quarter. Liberty Mutual Group Asset Management Inc. raised its position in Mack-Cali Realty Corporation 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 in the last quarter. Private Advisor Group LLC raised its position in Mack-Cali Realty Corporation by 0.9% in the fourth quarter. Private Advisor Group LLC now owns 15,911 shares of the real estate investment trust’s stock valued at $447,000 after buying an additional 148 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its position in Mack-Cali Realty Corporation by 5.0% in the first quarter. PNC Financial Services Group Inc. now owns 3,839 shares of the real estate investment trust’s stock valued at $103,000 after buying an additional 182 shares in the last quarter.
Mack-Cali Realty Corporation 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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