Mack Cali Realty Corp (NYSE:CLI) Plans $0.20 Quarterly Dividend

Mack Cali Realty Corp (NYSE:CLI) declared a quarterly dividend on Wednesday, June 12th, RTT News reports. Shareholders of record on Tuesday, July 2nd will be given a dividend of 0.20 per share by the real estate investment trust on Friday, July 12th. This represents a $0.80 dividend on an annualized basis and a yield of 3.31%.

Mack Cali Realty has raised its dividend payment by an average of 10.1% annually over the last three years and has raised its dividend every year for the last 3 years. Mack Cali Realty has a dividend payout ratio of 43.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Mack Cali Realty to earn $1.66 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 48.2%.

Mack Cali Realty stock traded up $0.79 during mid-day trading on Wednesday, reaching $24.15. The company’s stock had a trading volume of 13,522 shares, compared to its average volume of 419,789. The company has a market cap of $2.13 billion, a PE ratio of 13.02 and a beta of 1.05. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.62 and a quick ratio of 0.62. Mack Cali Realty has a twelve month low of $18.74 and a twelve month high of $23.83.

A number of equities analysts have commented on CLI shares. Deutsche Bank lifted their price objective on shares of Mack Cali Realty from $21.00 to $23.00 and gave the stock a “hold” rating in a report on Wednesday, April 10th. Stifel Nicolaus raised shares of Mack Cali Realty from a “hold” rating to a “buy” rating and set a $21.73 price objective for the company in a report on Tuesday, April 16th. Zacks Investment Research upgraded Mack Cali Realty from a “sell” rating to a “hold” rating and set a $19.00 target price on the stock in a research note on Tuesday, May 28th. BTIG Research upgraded Mack Cali Realty from a “neutral” rating to a “buy” rating and set a $26.00 target price on the stock in a research note on Tuesday, March 19th. Finally, TheStreet upgraded Mack Cali Realty from a “c” rating to a “b-” rating in a research note on Monday, May 6th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. Mack Cali Realty presently has an average rating of “Hold” and an average price target of $21.29.

COPYRIGHT VIOLATION NOTICE: “Mack Cali Realty Corp (NYSE:CLI) Plans $0.20 Quarterly Dividend” was first published by American Banking News and is owned by of American Banking News. If you are reading this news story on another domain, it was copied illegally and republished in violation of US and international copyright law. The legal version of this news story can be accessed at https://www.americanbankingnews.com/2019/06/12/mack-cali-realty-corp-nysecli-plans-0-20-quarterly-dividend.html.

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.

Featured Story: What is a conference call?

Dividend History 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