Mack Cali Realty Corp (NYSE:CLI) – Stock analysts at SunTrust Banks upped their FY2021 earnings per share (EPS) estimates for 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 $1.69 for the year, up from their prior forecast of $1.64. SunTrust Banks also issued estimates for Mack Cali Realty’s FY2022 earnings at $1.85 EPS.
A number of other analysts have also recently weighed in on CLI. Deutsche Bank raised their price target on Mack Cali Realty from $21.00 to $23.00 and gave the company a “hold” rating in a research note on Wednesday, April 10th. Stifel Nicolaus raised Mack Cali Realty from a “hold” rating to a “buy” rating and set a $21.73 price target on the stock in a report on Tuesday, April 16th. BTIG Research reaffirmed a “buy” rating and issued a $30.00 price objective (up previously from $26.00) on shares of Mack Cali Realty in a report on Thursday. Zacks Investment Research raised Mack Cali Realty from a “sell” rating to a “hold” rating and set a $19.00 price objective on the stock in a report on Tuesday, May 28th. Finally, TheStreet raised Mack Cali Realty from a “c” rating to a “b-” rating in a research note on Monday, May 6th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $21.96.
CLI opened at $24.47 on Friday. The firm has a market cap of $2.18 billion, a PE ratio of 13.37 and a beta of 1.05. Mack Cali Realty has a 52 week low of $18.74 and a 52 week high of $24.88. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 1.38.
A number of large investors have recently modified their holdings of the stock. Bank of Montreal Can boosted its stake in Mack Cali Realty by 10.4% in the 4th quarter. Bank of Montreal Can now owns 18,122 shares of the real estate investment trust’s stock worth $356,000 after purchasing an additional 1,711 shares during the period. Arizona State Retirement System grew its position in Mack Cali Realty by 1.1% in the 4th quarter. Arizona State Retirement System now owns 64,826 shares of the real estate investment trust’s stock worth $1,270,000 after purchasing an additional 701 shares during the last quarter. Rhumbline Advisers grew its position in Mack Cali Realty by 65.9% in the 4th quarter. Rhumbline Advisers now owns 296,928 shares of the real estate investment trust’s stock worth $5,817,000 after purchasing an additional 117,951 shares during the last quarter. Dupont Capital Management Corp acquired a new stake in Mack Cali Realty in the 4th quarter worth $159,000. Finally, Pinnacle Associates Ltd. acquired a new stake in Mack Cali Realty in the 4th quarter worth $345,000. Hedge funds and other institutional investors own 92.72% of the company’s stock.
The business 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 $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.27%. The ex-dividend date is Monday, July 1st. Mack Cali Realty’s dividend payout ratio (DPR) is presently 43.72%.
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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