Russell Investments Group Ltd. reduced its stake in Mack Cali Realty Corp (NYSE:CLI) by 4.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 917,138 shares of the real estate investment trust’s stock after selling 45,483 shares during the quarter. Russell Investments Group Ltd. owned approximately 1.02% of Mack Cali Realty worth $19,017,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the stock. Mutual of America Capital Management LLC raised its holdings in Mack Cali Realty by 4.4% in 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 period. State of Alaska Department of Revenue raised its holdings in 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 worth $150,000 after purchasing an additional 3,514 shares during the period. First Hawaiian Bank bought a new position in Mack Cali Realty in the 3rd quarter worth $123,000. Tower Research Capital LLC TRC raised its holdings in Mack Cali Realty by 67.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 16,360 shares of the real estate investment trust’s stock worth $332,000 after purchasing an additional 6,577 shares during the period. Finally, First Manhattan Co. raised 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 purchasing an additional 7,425 shares during the period. 98.06% of the stock is currently owned by institutional investors.
In other Mack Cali Realty news, EVP Robert Andrew Marshall sold 1,426 shares of the stock in a transaction on Monday, September 10th. The stock was sold at an average price of $21.28, for a total value of $30,345.28. Following the completion of the sale, the executive vice president now owns 1,426 shares in the company, valued at approximately $30,345.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 6.83% of the company’s stock.
The firm also recently declared a quarterly dividend, which was paid on Friday, October 12th. Shareholders of record on Tuesday, October 2nd were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, October 1st. This represents a $0.80 dividend on an annualized basis and a yield of 3.88%. Mack Cali Realty’s payout ratio is presently 35.87%.
A number of equities analysts recently commented on CLI shares. Zacks Investment Research cut Mack Cali Realty from a “hold” rating to a “sell” rating in a report on Tuesday, October 16th. Deutsche Bank raised their target price on Mack Cali Realty from $21.00 to $22.00 and gave the stock a “hold” rating in a report on Wednesday, August 29th. ValuEngine lowered Mack Cali Realty from a “hold” rating to a “sell” rating in a research note on Wednesday, October 3rd. Stifel Nicolaus reiterated a “hold” rating and issued a $23.00 price target (up previously from $21.00) on shares of Mack Cali Realty in a research note on Thursday, August 16th. Finally, Barclays reiterated a “sell” rating and issued a $18.00 price target on shares of Mack Cali Realty in a research note on Sunday, October 14th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $21.80.
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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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