Mack Cali Realty Corp (CLI) Receives Average Recommendation of “Hold” from Analysts

Mack Cali Realty Corp (NYSE:CLI) has been assigned a consensus recommendation of “Hold” from the eight ratings firms that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price target among brokers that have covered the stock in the last year is $23.25.

Several research firms recently commented on CLI. Deutsche Bank boosted their price objective on shares of Mack Cali Realty from $21.00 to $22.00 and gave the stock a “hold” rating in a research note on Wednesday, August 29th. Stifel Nicolaus reiterated a “hold” rating and set a $23.00 price objective (up previously from $21.00) on shares of Mack Cali Realty in a research note on Thursday, August 16th. ValuEngine upgraded shares of Mack Cali Realty from a “sell” rating to a “hold” rating in a research note on Wednesday, August 15th. Zacks Investment Research lowered shares of Mack Cali Realty from a “hold” rating to a “sell” rating in a research note on Monday, July 9th. Finally, Citigroup boosted their price objective on shares of Mack Cali Realty from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, June 28th.

Shares of NYSE:CLI traded down $0.13 during trading hours on Friday, hitting $20.98. The company’s stock had a trading volume of 431,199 shares, compared to its average volume of 418,229. Mack Cali Realty has a 52 week low of $15.86 and a 52 week high of $24.04. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.83 and a current ratio of 0.83. The firm has a market cap of $1.88 billion, a P/E ratio of 9.41 and a beta of 1.18.

Mack Cali Realty (NYSE:CLI) last posted its quarterly earnings results on Wednesday, August 1st. The real estate investment trust reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.44 by ($0.49). The business had revenue of $126.58 million during the quarter, compared to the consensus estimate of $133.28 million. Mack Cali Realty had a net margin of 13.89% and a return on equity of 4.70%. The company’s revenue for the quarter was down 90.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.60 EPS. research analysts predict that Mack Cali Realty will post 1.86 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 12th. Investors of record on Tuesday, October 2nd will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, October 1st. This represents a $0.80 annualized dividend and a dividend yield of 3.81%. Mack Cali Realty’s dividend payout ratio (DPR) is presently 35.87%.

In other Mack Cali Realty news, EVP Robert Andrew Marshall sold 1,426 shares of the business’s stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $21.28, for a total transaction of $30,345.28. Following the sale, the executive vice president now owns 1,426 shares of the company’s stock, valued at approximately $30,345.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Nathan Gantcher bought 25,000 shares of the company’s stock in a transaction on Thursday, June 21st. The shares were bought at an average cost of $20.60 per share, for a total transaction of $515,000.00. The disclosure for this purchase can be found here. Insiders own 6.83% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. Mutual of America Capital Management LLC grew its position in Mack Cali Realty by 4.4% during the 2nd quarter. Mutual of America Capital Management LLC now owns 77,253 shares of the real estate investment trust’s stock worth $1,567,000 after purchasing an additional 3,289 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of Mack Cali Realty by 89.9% in the 2nd quarter. State of Alaska Department of Revenue now owns 7,424 shares of the real estate investment trust’s stock valued at $150,000 after acquiring an additional 3,514 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Mack Cali Realty by 32.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 15,668 shares of the real estate investment trust’s stock valued at $262,000 after acquiring an additional 3,860 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in shares of Mack Cali Realty by 7.5% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 55,700 shares of the real estate investment trust’s stock valued at $931,000 after acquiring an additional 3,910 shares during the last quarter. Finally, Aperio Group LLC boosted its holdings in shares of Mack Cali Realty by 11.6% in the 1st quarter. Aperio Group LLC now owns 43,736 shares of the real estate investment trust’s stock valued at $731,000 after acquiring an additional 4,550 shares during the last quarter. 98.96% of the stock is currently owned by institutional investors.

About Mack Cali Realty

Mack-Cali Realty Corporation is fully-integrated and self-managed company, Mack-Cali has provided world-class management, leasing, and development services throughout New Jersey and the surrounding region for two decades. By regularly investing in its properties and innovative lifestyle amenity packages, Mack-Cali creates environments that empower tenants and residents to reimagine the way they work and live.

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Analyst Recommendations for Mack Cali Realty (NYSE:CLI)

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