Mack Cali Realty Corp (CLI) Given Average Recommendation of “Hold” by Analysts

Mack Cali Realty Corp (NYSE:CLI) has earned an average rating of “Hold” from the nine research firms that are covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $20.25.

CLI has been the subject of a number of research reports. Zacks Investment Research cut Mack Cali Realty from a “hold” rating to a “sell” rating in a report on Tuesday, October 16th. SunTrust Banks cut Mack Cali Realty from a “buy” rating to a “hold” rating in a report on Tuesday, January 15th. Finally, ValuEngine upgraded Mack Cali Realty from a “hold” rating to a “buy” rating in a report on Friday.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. First Manhattan Co. boosted its holdings in Mack Cali Realty by 1.1% in the 3rd quarter. First Manhattan Co. now owns 664,669 shares of the real estate investment trust’s stock worth $14,130,000 after acquiring an additional 7,425 shares during the period. Teachers Advisors LLC boosted its holdings in Mack Cali Realty by 0.3% in the 3rd quarter. Teachers Advisors LLC now owns 263,918 shares of the real estate investment trust’s stock worth $5,611,000 after acquiring an additional 907 shares during the period. Legal & General Group Plc boosted its holdings in Mack Cali Realty by 3.6% in the 3rd quarter. Legal & General Group Plc now owns 398,214 shares of the real estate investment trust’s stock worth $8,465,000 after acquiring an additional 13,708 shares during the period. Renaissance Technologies LLC boosted its holdings in Mack Cali Realty by 14.3% in the 3rd quarter. Renaissance Technologies LLC now owns 3,990,200 shares of the real estate investment trust’s stock worth $84,832,000 after acquiring an additional 498,595 shares during the period. Finally, State of Alaska Department of Revenue boosted its holdings in Mack Cali Realty by 1.9% in the 4th quarter. State of Alaska Department of Revenue now owns 29,518 shares of the real estate investment trust’s stock worth $578,000 after acquiring an additional 540 shares during the period. Hedge funds and other institutional investors own 98.96% of the company’s stock.

Shares of NYSE:CLI opened at $21.16 on Tuesday. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.71 and a quick ratio of 0.71. Mack Cali Realty has a 1 year low of $15.86 and a 1 year high of $22.26. The stock has a market cap of $1.92 billion, a PE ratio of 9.49 and a beta of 1.14.

About Mack Cali Realty

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.

Further Reading: Strangles

Analyst Recommendations for Mack Cali Realty (NYSE:CLI)

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