Analysts predict that Mack-Cali Realty Corporation (NYSE:CLI) will report sales of $153.92 million for the current quarter, according to Zacks. Three analysts have made estimates for Mack-Cali Realty Corporation’s earnings, with the highest sales estimate coming in at $155.34 million and the lowest estimate coming in at $152.67 million. Mack-Cali Realty Corporation reported sales of $157.52 million in the same quarter last year, which indicates a negative year-over-year growth rate of 2.3%. The company is scheduled to issue its next earnings report after the market closes on Tuesday, November 7th.

On average, analysts expect that Mack-Cali Realty Corporation will report full year sales of $153.92 million for the current fiscal year, with estimates ranging from $576.48 million to $614.90 million. For the next financial year, analysts anticipate that the company will post sales of $583.65 million per share, with estimates ranging from $574.77 million to $593.74 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Mack-Cali Realty Corporation.

Mack-Cali Realty Corporation (NYSE:CLI) last announced its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.01). The firm 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 prior year, the business earned $0.55 earnings per share.

Several analysts recently commented on the company. Zacks Investment Research cut Mack-Cali Realty Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, September 12th. Citigroup Inc. reduced their target price on Mack-Cali Realty Corporation from $27.50 to $26.00 and set a “neutral” rating on the stock in a report on Thursday, September 21st. Stifel Nicolaus reiterated a “buy” rating and issued a $30.00 target price on shares of Mack-Cali Realty Corporation in a report on Thursday, September 21st. Barclays PLC reduced their target price on Mack-Cali Realty Corporation from $29.00 to $28.00 and set an “underweight” rating on the stock in a report on Tuesday, July 18th. Finally, BidaskClub cut Mack-Cali Realty Corporation from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 12th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $28.43.

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The business also recently announced a quarterly dividend, which was paid on Friday, October 13th. Investors of record on Tuesday, October 3rd were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.51%. The ex-dividend date of this dividend was Monday, October 2nd. Mack-Cali Realty Corporation’s payout ratio is presently -307.69%.

A number of hedge funds have recently made changes to their positions in CLI. Teachers Advisors LLC boosted its holdings in shares of Mack-Cali Realty Corporation by 5.2% during the 1st quarter. Teachers Advisors LLC now owns 212,264 shares of the real estate investment trust’s stock worth $5,718,000 after buying an additional 10,538 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Mack-Cali Realty Corporation by 5.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,839 shares of the real estate investment trust’s stock worth $103,000 after buying an additional 182 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Mack-Cali Realty Corporation by 9.8% during the 1st quarter. Geode Capital Management LLC now owns 827,973 shares of the real estate investment trust’s stock worth $22,305,000 after buying an additional 73,584 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Mack-Cali Realty Corporation by 3.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,253,554 shares of the real estate investment trust’s stock worth $33,770,000 after buying an additional 47,060 shares in the last quarter. Finally, BlackRock Inc. boosted its holdings in shares of Mack-Cali Realty Corporation by 6,678.9% during the 1st quarter. BlackRock Inc. now owns 11,568,140 shares of the real estate investment trust’s stock worth $311,648,000 after buying an additional 11,397,492 shares in the last quarter. Institutional investors and hedge funds own 99.42% of the company’s stock.

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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