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

Wall Street analysts predict that Mack Cali Realty Corp (NYSE:CLI) will post sales of $146.18 million for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Mack Cali Realty’s earnings. The highest sales estimate is $148.95 million and the lowest is $144.44 million. Mack Cali Realty posted sales of $153.73 million in the same quarter last year, which suggests a negative year-over-year growth rate of 4.9%. The business is scheduled to report its next quarterly earnings results after the market closes on Wednesday, February 21st.

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 fiscal year, analysts forecast that the company will post sales of $563.05 million per share, with estimates ranging from $546.31 million to $574.77 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Mack Cali Realty.

CLI has been the topic of several research analyst reports. Stifel Nicolaus lowered shares of Mack Cali Realty from a “buy” rating to a “sell” rating in a research note on Wednesday, November 8th. Zacks Investment Research upgraded shares of Mack Cali Realty from a “sell” rating to a “hold” rating in a research note on Monday, November 13th. SunTrust Banks set a $28.00 price target on shares of Mack Cali Realty and gave the stock a “buy” rating in a research note on Monday, January 22nd. ValuEngine upgraded shares of Mack Cali Realty from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Finally, Barclays cut their price target on shares of Mack Cali Realty from $24.00 to $21.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 30th. Four research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $27.17.

Shares of Mack Cali Realty (NYSE:CLI) opened at $18.35 on Thursday. Mack Cali Realty has a one year low of $18.12 and a one year high of $29.70. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.20 and a current ratio of 1.20. The company has a market cap of $1,650.00, a price-to-earnings ratio of 79.78, a P/E/G ratio of 2.63 and a beta of 1.07.

Large investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. increased its stake in Mack Cali Realty by 5.2% in the second quarter. PNC Financial Services Group Inc. now owns 4,039 shares of the real estate investment trust’s stock valued at $109,000 after purchasing an additional 200 shares during the period. Teachers Retirement System of The State of Kentucky increased its stake in Mack Cali Realty by 0.6% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 16,080 shares of the real estate investment trust’s stock valued at $436,000 after purchasing an additional 100 shares during the period. Dimensional Fund Advisors LP increased its stake in Mack Cali Realty by 3.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,296,587 shares of the real estate investment trust’s stock valued at $35,190,000 after purchasing an additional 43,033 shares during the period. Voya Investment Management LLC increased its stake in Mack Cali Realty by 8.8% in the second quarter. Voya Investment Management LLC now owns 72,826 shares of the real estate investment trust’s stock valued at $1,976,000 after purchasing an additional 5,873 shares during the period. Finally, State Street Corp increased its stake in Mack Cali Realty by 2.6% in the second 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. Hedge funds and other institutional investors own 98.00% of the company’s stock.

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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.

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

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