Mack Cali Realty Corp (NYSE:CLI) – Stock analysts at SunTrust Banks lifted their Q2 2019 earnings per share (EPS) estimates for shares of Mack Cali Realty in a research note issued on Wednesday, June 12th. SunTrust Banks analyst M. Lewis now anticipates that the real estate investment trust will post earnings per share of $0.44 for the quarter, up from their prior forecast of $0.43. SunTrust Banks also issued estimates for Mack Cali Realty’s Q3 2019 earnings at $0.40 EPS, Q4 2019 earnings at $0.40 EPS, FY2019 earnings at $1.63 EPS, Q2 2020 earnings at $0.39 EPS, Q3 2020 earnings at $0.39 EPS, Q4 2020 earnings at $0.40 EPS, FY2020 earnings at $1.58 EPS and FY2023 earnings at $1.84 EPS.
CLI has been the topic of several other reports. Zacks Investment Research upgraded Mack Cali Realty from a “sell” rating to a “hold” rating in a research report on Monday, April 1st. TheStreet upgraded Mack Cali Realty from a “c” rating to a “b-” rating in a research report on Monday, May 6th. BTIG Research upgraded Mack Cali Realty from a “neutral” rating to a “buy” rating and set a $26.00 price target on the stock in a research report on Tuesday, March 19th. Stifel Nicolaus upgraded Mack Cali Realty from a “hold” rating to a “buy” rating and set a $21.73 price target on the stock in a research report on Tuesday, April 16th. Finally, Deutsche Bank upped their price target on Mack Cali Realty from $21.00 to $23.00 and gave the company a “hold” rating in a research report on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. Mack Cali Realty has a consensus rating of “Hold” and a consensus price target of $21.29.
Shares of CLI opened at $24.15 on Thursday. Mack Cali Realty has a twelve month low of $18.74 and a twelve month high of $24.15. The stock has a market cap of $2.11 billion, a PE ratio of 13.50 and a beta of 1.05. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 1.38.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Tuesday, July 2nd will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.31%. Mack Cali Realty’s payout ratio is 43.72%.
Hedge funds and other institutional investors have recently modified their holdings of the company. Marshall Wace North America L.P. grew its holdings in shares of Mack Cali Realty by 35.9% during the first quarter. Marshall Wace North America L.P. now owns 3,408 shares of the real estate investment trust’s stock worth $76,000 after purchasing an additional 900 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Mack Cali Realty by 39.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,954 shares of the real estate investment trust’s stock worth $96,000 after purchasing an additional 1,410 shares in the last quarter. Dupont Capital Management Corp purchased a new position in shares of Mack Cali Realty during the fourth quarter worth about $159,000. Janney Montgomery Scott LLC purchased a new position in shares of Mack Cali Realty during the first quarter worth about $210,000. Finally, Amica Retiree Medical Trust purchased a new position in shares of Mack Cali Realty during the first quarter worth about $238,000. 92.72% of the stock is owned by institutional investors.
Mack Cali Realty Company 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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