Comerica Bank reduced its position in shares of Mack Cali Realty Corp (NYSE:CLI) by 16.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 56,631 shares of the real estate investment trust’s stock after selling 11,159 shares during the quarter. Comerica Bank owned about 0.06% of Mack Cali Realty worth $1,146,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently made changes to their positions in the business. BlackRock Inc. raised its holdings in Mack Cali Realty by 8.2% during the 2nd quarter. BlackRock Inc. now owns 13,198,378 shares of the real estate investment trust’s stock worth $267,663,000 after purchasing an additional 998,387 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Mack Cali Realty by 5.6% during the 2nd quarter. Renaissance Technologies LLC now owns 3,491,605 shares of the real estate investment trust’s stock worth $70,810,000 after purchasing an additional 183,905 shares during the last quarter. Frontier Capital Management Co. LLC raised its holdings in Mack Cali Realty by 19.6% during the 3rd quarter. Frontier Capital Management Co. LLC now owns 2,658,149 shares of the real estate investment trust’s stock worth $56,512,000 after purchasing an additional 435,212 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Mack Cali Realty by 2.5% in the 3rd quarter. Victory Capital Management Inc. now owns 2,281,924 shares of the real estate investment trust’s stock valued at $48,514,000 after acquiring an additional 56,712 shares during the last quarter. Finally, Macquarie Group Ltd. increased its stake in shares of Mack Cali Realty by 11.1% in the 2nd quarter. Macquarie Group Ltd. now owns 2,135,796 shares of the real estate investment trust’s stock valued at $43,313,000 after acquiring an additional 213,070 shares during the last quarter. 98.69% of the stock is owned by hedge funds and other institutional investors.
In other news, EVP Robert Andrew Marshall sold 1,426 shares of the company’s stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $21.28, for a total value of $30,345.28. Following the completion of the sale, the executive vice president now directly owns 1,426 shares of the company’s stock, valued at approximately $30,345.28. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 6.83% of the company’s stock.
Shares of CLI stock opened at $21.64 on Friday. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.71 and a quick ratio of 0.71. The stock has a market capitalization of $1.90 billion, a PE ratio of 9.70 and a beta of 1.21. Mack Cali Realty Corp has a one year low of $15.86 and a one year high of $22.32.
A number of analysts have recently commented on CLI shares. SunTrust Banks reaffirmed a “buy” rating on shares of Mack Cali Realty in a research note on Monday, December 3rd. Stifel Nicolaus lowered their price target on Mack Cali Realty from $23.00 to $21.00 and set a “hold” rating for the company in a research note on Tuesday, September 25th. Deutsche Bank upped their price target on Mack Cali Realty from $21.00 to $22.00 and gave the company a “hold” rating in a research note on Wednesday, August 29th. ValuEngine raised Mack Cali Realty from a “sell” rating to a “hold” rating in a research note on Wednesday, August 15th. Finally, Zacks Investment Research raised Mack Cali Realty from a “sell” rating to a “hold” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company’s stock. Mack Cali Realty presently has a consensus rating of “Hold” and an average target price of $21.80.
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Mack Cali Realty Profile
One of the country's leading real estate investment trusts (REITs), Mack-Cali Realty Corporation is an owner, manager and developer of premier office and multifamily properties in select waterfront and transit-oriented markets throughout the Northeast. Mack-Cali is headquartered in Jersey City, New Jersey, and is the visionary behind the city's flourishing waterfront, where the company is leading development, improvement and place-making initiatives for Harborside, a master-planned destination comprised of class A office, luxury apartments, diverse retail and restaurants, and public spaces.
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