$0.58 EPS Expected for Mack-Cali Realty Corporation (CLI) This Quarter
Equities analysts forecast that Mack-Cali Realty Corporation (NYSE:CLI) will announce earnings of $0.58 per share for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Mack-Cali Realty Corporation’s earnings. The lowest EPS estimate is $0.56 and the highest is $0.60. Mack-Cali Realty Corporation reported earnings of ($0.10) per share in the same quarter last year, which indicates a positive year over year growth rate of 680%. The company is scheduled to report its next quarterly earnings report after the market closes on Tuesday, November 7th.
According to Zacks, analysts expect that Mack-Cali Realty Corporation will report full-year earnings of $2.26 per share for the current fiscal year, with EPS estimates ranging from $2.23 to $2.27. For the next year, analysts anticipate that the company will post earnings of $2.24 per share, with EPS estimates ranging from $2.03 to $2.36. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow Mack-Cali Realty Corporation.
Mack-Cali Realty Corporation (NYSE:CLI) last posted its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $0.60 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.61 by ($0.01). The company had revenue of $162.77 million during the quarter, compared to analyst estimates of $150.94 million. Mack-Cali Realty Corporation had a negative net margin of 3.31% and a negative return on equity of 1.21%. During the same quarter in the previous year, the company earned $0.55 earnings per share.
A number of analysts have commented on CLI shares. ValuEngine raised shares of Mack-Cali Realty Corporation from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Stifel Nicolaus reaffirmed a “buy” rating and set a $30.00 price target on shares of Mack-Cali Realty Corporation in a research report on Thursday, September 21st. SunTrust Banks, Inc. raised shares of Mack-Cali Realty Corporation from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research report on Tuesday, September 5th. They noted that the move was a valuation call. Citigroup Inc. cut their price target on shares of Mack-Cali Realty Corporation from $27.50 to $26.00 and set a “neutral” rating on the stock in a research report on Thursday, September 21st. Finally, Evercore ISI reaffirmed an “outperform” rating and set a $29.00 price target (down previously from $33.00) on shares of Mack-Cali Realty Corporation in a research report on Wednesday, August 9th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $28.43.
Shares of Mack-Cali Realty Corporation (NYSE:CLI) opened at 22.71 on Monday. Mack-Cali Realty Corporation has a 12-month low of $22.23 and a 12-month high of $29.70. The company has a 50-day moving average price of $23.36 and a 200-day moving average price of $25.59. The firm’s market capitalization is $2.04 billion.
The firm also recently declared a quarterly dividend, which was paid on Friday, October 13th. Investors of record on Tuesday, October 3rd were given a $0.20 dividend. The ex-dividend date was Monday, October 2nd. This represents a $0.80 annualized dividend and a yield of 3.52%. Mack-Cali Realty Corporation’s payout ratio is -307.69%.
A number of hedge funds and other institutional investors have recently made changes to their positions in CLI. BlackRock Inc. lifted its position in Mack-Cali Realty Corporation by 6,678.9% in the 1st quarter. BlackRock Inc. now owns 11,568,140 shares of the real estate investment trust’s stock valued at $311,648,000 after acquiring an additional 11,397,492 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Mack-Cali Realty Corporation by 13.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,616,014 shares of the real estate investment trust’s stock valued at $98,138,000 after acquiring an additional 430,437 shares in the last quarter. Balyasny Asset Management LLC lifted its position in Mack-Cali Realty Corporation by 95.5% in the 2nd quarter. Balyasny Asset Management LLC now owns 673,960 shares of the real estate investment trust’s stock valued at $18,291,000 after acquiring an additional 329,201 shares in the last quarter. Marshall Wace North America L.P. bought a new position in Mack-Cali Realty Corporation in the 2nd quarter valued at about $8,404,000. Finally, Renaissance Technologies LLC lifted its position in Mack-Cali Realty Corporation by 22.4% in the 2nd quarter. Renaissance Technologies LLC now owns 1,682,201 shares of the real estate investment trust’s stock valued at $45,655,000 after acquiring an additional 307,701 shares in the last quarter. 99.42% of the stock is currently owned by institutional investors and hedge funds.
About Mack-Cali Realty Corporation
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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