Zacks: Analysts Expect Mack Cali Realty Corp (CLI) Will Post Quarterly Sales of $146.18 Million

Equities analysts predict that Mack Cali Realty Corp (NYSE:CLI) will post sales of $146.18 million for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Mack Cali Realty’s earnings, with the lowest sales estimate coming in at $144.44 million and the highest estimate coming in at $148.95 million. Mack Cali Realty posted sales of $153.73 million during the same quarter last year, which suggests a negative year-over-year growth rate of 4.9%. The company is scheduled to report its next quarterly earnings results on Tuesday, February 27th.

According to Zacks, analysts expect that Mack Cali Realty will report full-year sales of $146.18 million for the current financial year, with estimates ranging from $564.16 million to $617.83 million. For the next financial year, analysts expect that the business will post sales of $563.05 million per share, with estimates ranging from $546.31 million to $574.77 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that cover Mack Cali Realty.

Mack Cali Realty (NYSE:CLI) last announced its quarterly earnings results on Tuesday, November 7th. The real estate investment trust reported $0.57 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by ($0.01). Mack Cali Realty had a net margin of 4.14% and a return on equity of 1.53%. The business had revenue of $160.02 million during the quarter, compared to the consensus estimate of $156.18 million. During the same period in the previous year, the business posted $0.60 EPS. Mack Cali Realty’s revenue was up 1.6% compared to the same quarter last year.

Several equities analysts recently weighed in on the stock. Stifel Nicolaus reaffirmed a “buy” rating and issued a $30.00 price target on shares of Mack Cali Realty in a research report on Thursday, September 21st. ValuEngine upgraded shares of Mack Cali Realty from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Zacks Investment Research lowered shares of Mack Cali Realty from a “hold” rating to a “sell” rating in a research note on Tuesday, January 2nd. Finally, Citigroup decreased their price objective on shares of Mack Cali Realty from $27.50 to $26.00 and set a “neutral” rating for the company in a research note on Thursday, September 21st. Four research analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $28.00.

Hedge funds have recently modified their holdings of the company. Teachers Retirement System of The State of Kentucky increased its stake in shares of Mack Cali Realty by 0.6% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 16,080 shares of the real estate investment trust’s stock worth $436,000 after purchasing an additional 100 shares during the last quarter. Prudential Financial Inc. increased its stake in shares of Mack Cali Realty by 40.6% during the 3rd quarter. Prudential Financial Inc. now owns 534,818 shares of the real estate investment trust’s stock worth $12,681,000 after purchasing an additional 154,320 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Mack Cali Realty by 53.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 5,548,255 shares of the real estate investment trust’s stock worth $131,549,000 after purchasing an additional 1,932,241 shares during the last quarter. Foundry Partners LLC increased its stake in shares of Mack Cali Realty by 8.5% during the 3rd quarter. Foundry Partners LLC now owns 510,004 shares of the real estate investment trust’s stock worth $12,092,000 after purchasing an additional 39,781 shares during the last quarter. Finally, Commonwealth Bank of Australia increased its stake in shares of Mack Cali Realty by 8.6% during the 3rd quarter. Commonwealth Bank of Australia now owns 934,359 shares of the real estate investment trust’s stock worth $22,150,000 after purchasing an additional 73,869 shares during the last quarter. Institutional investors own 99.16% of the company’s stock.

Mack Cali Realty (NYSE CLI) opened at $20.88 on Friday. Mack Cali Realty has a 1 year low of $20.77 and a 1 year high of $29.70. The firm has a market cap of $1,880.00, a PE ratio of 90.78, a P/E/G ratio of 2.95 and a beta of 1.19. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.20 and a quick ratio of 1.20.

The business also recently declared a quarterly dividend, which will be paid on Friday, January 12th. Stockholders of record on Wednesday, January 3rd will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, January 2nd. This represents a $0.80 annualized dividend and a dividend yield of 3.83%. Mack Cali Realty’s payout ratio is currently 347.83%.

COPYRIGHT VIOLATION NOTICE: This article was originally published by American Banking News and is the sole property of of American Banking News. If you are viewing this article on another domain, it was stolen and reposted in violation of international copyright and trademark laws. The original version of this article can be accessed at https://www.americanbankingnews.com/2018/01/12/zacks-analysts-expect-mack-cali-realty-corp-cli-will-post-quarterly-sales-of-146-18-million.html.

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.

Get a free copy of the Zacks research report on Mack Cali Realty (CLI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Mack Cali Realty Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mack Cali Realty and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply