Mack-Cali Realty (CLI) Lifted to “Buy” at ValuEngine

Mack-Cali Realty (NYSE:CLI) was upgraded by stock analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued on Friday.

A number of other research firms have also recently weighed in on CLI. Zacks Investment Research cut Mack-Cali Realty from a “hold” rating to a “sell” rating in a research report on Tuesday, September 12th. Citigroup decreased their price objective on Mack-Cali Realty from $27.50 to $26.00 and set a “neutral” rating for the company in a research report on Thursday, September 21st. Stifel Nicolaus reaffirmed a “buy” rating and set a $30.00 price objective on shares of Mack-Cali Realty in a research report on Thursday, September 21st. Barclays decreased their price objective on Mack-Cali Realty from $28.00 to $24.00 and set an “underweight” rating for the company in a research report on Friday, August 18th. Finally, SunTrust Banks raised Mack-Cali Realty from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a research report on Tuesday, September 5th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. Mack-Cali Realty has an average rating of “Hold” and a consensus target price of $28.43.

Mack-Cali Realty (NYSE:CLI) traded up $0.19 during trading hours on Friday, reaching $22.33. The company had a trading volume of 528,582 shares, compared to its average volume of 708,982. The stock has a market cap of $2,010.00, a P/E ratio of 9.75, a PEG ratio of 1.69 and a beta of 1.18. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 1.69. Mack-Cali Realty has a 12-month low of $21.18 and a 12-month high of $29.70.

Mack-Cali Realty (NYSE:CLI) last released its quarterly earnings results on Tuesday, November 7th. The real estate investment trust reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.01). The firm had revenue of $160.02 million for the quarter, compared to analysts’ expectations of $156.18 million. Mack-Cali Realty had a return on equity of 1.53% and a net margin of 4.14%. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.60 EPS. equities research analysts predict that Mack-Cali Realty will post 2.27 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Public Employees Retirement System of Ohio increased its stake in Mack-Cali Realty by 11.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 132,258 shares of the real estate investment trust’s stock valued at $3,136,000 after purchasing an additional 13,771 shares in the last quarter. Eii Capital Management Inc. purchased a new position in Mack-Cali Realty in the 3rd quarter valued at approximately $708,000. California Public Employees Retirement System increased its stake in Mack-Cali Realty by 4.1% in the 3rd quarter. California Public Employees Retirement System now owns 258,955 shares of the real estate investment trust’s stock valued at $6,140,000 after purchasing an additional 10,156 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in Mack-Cali Realty in the 3rd quarter valued at approximately $350,000. Finally, Asset Management One Co. Ltd. increased its stake in Mack-Cali Realty by 2.1% in the 3rd quarter. Asset Management One Co. Ltd. now owns 192,240 shares of the real estate investment trust’s stock valued at $4,539,000 after purchasing an additional 3,872 shares in the last quarter. 99.25% of the stock is owned by institutional investors and hedge funds.

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Mack-Cali Realty 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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Analyst Recommendations for Mack-Cali Realty (NYSE:CLI)

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