Equities research analysts expect that Mack-Cali Realty Corporation (NYSE:CLI) will announce sales of $153.97 million for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Mack-Cali Realty Corporation’s earnings, with estimates ranging from $152.67 million to $155.49 million. Mack-Cali Realty Corporation reported sales of $157.52 million during the same quarter last year, which suggests a negative year-over-year growth rate of 2.3%. The company is expected to issue its next earnings results on Tuesday, October 24th.

According to Zacks, analysts expect that Mack-Cali Realty Corporation will report full-year sales of $153.97 million for the current fiscal year, with estimates ranging from $574.55 million to $615.35 million. For the next year, analysts forecast that the firm will report sales of $593.99 million per share, with estimates ranging from $574.77 million to $630.39 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Mack-Cali Realty Corporation.

Mack-Cali Realty Corporation (NYSE:CLI) last announced its earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by $0.01. Mack-Cali Realty Corporation had a negative net margin of 3.31% and a negative return on equity of 1.21%. The business had revenue of $162.77 million for the quarter, compared to analysts’ expectations of $150.94 million. During the same quarter last year, the firm earned $0.55 EPS.

A number of equities analysts recently weighed in on CLI shares. Deutsche Bank AG increased their price objective on shares of Mack-Cali Realty Corporation from $28.00 to $29.00 and gave the stock a “hold” rating in a research report on Thursday, May 25th. BidaskClub raised shares of Mack-Cali Realty Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, June 17th. Barclays PLC lowered their price objective on shares of Mack-Cali Realty Corporation from $29.00 to $28.00 and set an “underweight” rating for the company in a research report on Tuesday, July 18th. Finally, Evercore ISI reaffirmed an “outperform” rating and set a $29.00 price objective (down previously from $33.00) on shares of Mack-Cali Realty Corporation in a research report on Wednesday, August 9th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. Mack-Cali Realty Corporation currently has an average rating of “Hold” and an average target price of $29.33.

Institutional investors have recently bought and sold shares of the company. Teachers Advisors LLC boosted its position in Mack-Cali Realty Corporation by 27.4% in the fourth quarter. Teachers Advisors LLC now owns 201,726 shares of the real estate investment trust’s stock worth $5,854,000 after buying an additional 43,329 shares during the last quarter. Louisiana State Employees Retirement System boosted its position in shares of Mack-Cali Realty Corporation by 2.3% in the first quarter. Louisiana State Employees Retirement System now owns 22,700 shares of the real estate investment trust’s stock valued at $612,000 after buying an additional 500 shares in the last quarter. State of Alaska Department of Revenue boosted its position in shares of Mack-Cali Realty Corporation by 22.9% in the first quarter. State of Alaska Department of Revenue now owns 11,550 shares of the real estate investment trust’s stock valued at $311,000 after buying an additional 2,150 shares in the last quarter. Retirement Systems of Alabama boosted its position in shares of Mack-Cali Realty Corporation by 31.4% in the first quarter. Retirement Systems of Alabama now owns 333,591 shares of the real estate investment trust’s stock valued at $8,987,000 after buying an additional 79,673 shares in the last quarter. Finally, PGGM Investments boosted its position in shares of Mack-Cali Realty Corporation by 320.6% in the first quarter. PGGM Investments now owns 762,000 shares of the real estate investment trust’s stock valued at $20,528,000 after buying an additional 580,818 shares in the last quarter. 98.56% of the stock is owned by hedge funds and other institutional investors.

Shares of Mack-Cali Realty Corporation (NYSE:CLI) traded down 1.56% on Friday, hitting $23.31. The company’s stock had a trading volume of 258,093 shares. The stock has a 50-day moving average price of $25.84 and a 200 day moving average price of $27.16. Mack-Cali Realty Corporation has a one year low of $23.31 and a one year high of $29.70. The firm’s market cap is $2.09 billion.

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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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Earnings History and Estimates for Mack-Cali Realty Corporation (NYSE:CLI)

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