Mack Cali Realty Corp (CLI) Receives Average Rating of “Hold” from Analysts

Mack Cali Realty Corp (NYSE:CLI) has been assigned a consensus recommendation of “Hold” from the nine analysts that are covering the firm, MarketBeat reports. Four analysts have rated the stock with a sell recommendation, three have given a hold recommendation and two have given a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $26.60.

A number of research analysts have recently commented on CLI shares. Stifel Nicolaus downgraded Mack Cali Realty from a “buy” rating to a “sell” rating in a report on Wednesday, November 8th. Zacks Investment Research upgraded Mack Cali Realty from a “sell” rating to a “hold” rating in a report on Monday, November 13th. ValuEngine upgraded Mack Cali Realty from a “hold” rating to a “buy” rating in a report on Friday, December 1st. SunTrust Banks set a $28.00 price objective on Mack Cali Realty and gave the company a “buy” rating in a report on Monday, January 22nd. Finally, Barclays dropped their price objective on Mack Cali Realty from $24.00 to $21.00 and set an “underweight” rating on the stock in a report on Tuesday.

Shares of Mack Cali Realty (NYSE CLI) opened at $19.91 on Friday. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 1.69. Mack Cali Realty has a 1-year low of $19.86 and a 1-year high of $29.70. The firm has a market capitalization of $1,804.58 and a PE ratio of 86.57.

Mack Cali Realty (NYSE:CLI) last issued 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 return on equity of 1.53% and a net margin of 4.14%. The company had revenue of $160.02 million for the quarter, compared to analysts’ expectations of $156.18 million. During the same quarter last year, the company earned $0.60 EPS. Mack Cali Realty’s revenue for the quarter was up 1.6% compared to the same quarter last year. equities analysts expect that Mack Cali Realty will post 2.26 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, January 12th. Investors of record on Wednesday, January 3rd were given a $0.20 dividend. The ex-dividend date was Tuesday, January 2nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.02%. Mack Cali Realty’s dividend payout ratio (DPR) is presently 347.84%.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp boosted its position in shares of Mack Cali Realty by 53.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 5,548,255 shares of the real estate investment trust’s stock valued at $131,549,000 after purchasing an additional 1,932,241 shares during the period. State Street Corp boosted its position in shares of Mack Cali Realty by 2.6% in the 2nd quarter. State Street Corp now owns 4,237,235 shares of the real estate investment trust’s stock valued at $115,002,000 after purchasing an additional 109,044 shares during the period. Frontier Capital Management Co. LLC boosted its position in shares of Mack Cali Realty by 2.2% in the 3rd quarter. Frontier Capital Management Co. LLC now owns 2,330,721 shares of the real estate investment trust’s stock valued at $55,261,000 after purchasing an additional 49,811 shares during the period. Ameriprise Financial Inc. boosted its position in shares of Mack Cali Realty by 6.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,322,217 shares of the real estate investment trust’s stock valued at $55,059,000 after purchasing an additional 150,871 shares during the period. Finally, Victory Capital Management Inc. boosted its position in shares of Mack Cali Realty by 9.6% in the 4th quarter. Victory Capital Management Inc. now owns 1,595,218 shares of the real estate investment trust’s stock valued at $34,393,000 after purchasing an additional 139,160 shares during the period. 99.14% of the stock is owned by hedge funds and other institutional investors.

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About Mack Cali Realty

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.

Analyst Recommendations for Mack Cali Realty (NYSE:CLI)

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