Mack Cali Realty Corp (CLI) Receives $20.25 Consensus Price Target from Analysts

Shares of Mack Cali Realty Corp (NYSE:CLI) have received a consensus recommendation of “Hold” from the nine brokerages that are covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $20.25.

CLI has been the subject of several analyst reports. Zacks Investment Research lowered Mack Cali Realty from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 6th. ValuEngine upgraded Mack Cali Realty from a “hold” rating to a “buy” rating in a research report on Friday, February 8th. Finally, SunTrust Banks cut Mack Cali Realty from a “buy” rating to a “hold” rating in a research report on Tuesday, January 15th.

NYSE:CLI traded up $0.07 on Tuesday, hitting $21.08. 274,402 shares of the company’s stock traded hands, compared to its average volume of 449,850. The stock has a market cap of $1.90 billion, a PE ratio of 9.45 and a beta of 1.14. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.71 and a quick ratio of 0.71. Mack Cali Realty has a 1 year low of $15.86 and a 1 year high of $22.26.

A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. lifted its position in shares of Mack Cali Realty by 1.5% in the fourth quarter. BlackRock Inc. now owns 13,220,528 shares of the real estate investment trust’s stock valued at $258,991,000 after buying an additional 192,343 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Mack Cali Realty by 2.5% in the 3rd quarter. Vanguard Group Inc. now owns 12,960,200 shares of the real estate investment trust’s stock valued at $275,535,000 after purchasing an additional 311,614 shares during the last quarter. Vanguard Group Inc grew its position in Mack Cali Realty by 2.5% during the 3rd quarter. Vanguard Group Inc now owns 12,960,200 shares of the real estate investment trust’s stock worth $275,535,000 after acquiring an additional 311,614 shares during the last quarter. Renaissance Technologies LLC grew its position in Mack Cali Realty by 14.3% during the 3rd quarter. Renaissance Technologies LLC now owns 3,990,200 shares of the real estate investment trust’s stock worth $84,832,000 after acquiring an additional 498,595 shares during the last quarter. Finally, LSV Asset Management grew its position in Mack Cali Realty by 2.8% during the 3rd quarter. LSV Asset Management now owns 3,678,005 shares of the real estate investment trust’s stock worth $78,194,000 after acquiring an additional 101,014 shares during the last quarter. Hedge funds and other institutional investors own 98.96% of the company’s stock.

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.

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Analyst Recommendations for Mack Cali Realty (NYSE:CLI)

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