Mack Cali Realty Corp (NYSE:CLI) Short Interest Update

Mack Cali Realty Corp (NYSE:CLI) saw a significant increase in short interest during the month of July. As of July 31st, there was short interest totalling 1,394,300 shares, an increase of 5.3% from the June 30th total of 1,324,200 shares. Based on an average trading volume of 417,600 shares, the days-to-cover ratio is currently 3.3 days. Approximately 1.6% of the company’s shares are short sold.

Shares of Mack Cali Realty stock traded up $0.50 during trading hours on Friday, hitting $22.30. The company’s stock had a trading volume of 342,200 shares, compared to its average volume of 427,160. Mack Cali Realty has a 12 month low of $18.74 and a 12 month high of $24.88. The stock has a 50 day moving average of $23.18 and a 200 day moving average of $22.49. The company has a market capitalization of $2.02 billion, a PE ratio of 12.19 and a beta of 1.02. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 0.86.

Mack Cali Realty (NYSE:CLI) last announced its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.84). Mack Cali Realty had a return on equity of 14.57% and a net margin of 49.47%. The business had revenue of $130.46 million during the quarter, compared to the consensus estimate of $132.61 million. During the same quarter last year, the company earned $0.45 earnings per share. The firm’s revenue was up 3.1% compared to the same quarter last year. Equities analysts expect that Mack Cali Realty will post 1.62 EPS for the current year.

In other news, Director Alan R. Batkin bought 2,000 shares of the company’s stock in a transaction dated Wednesday, June 19th. The stock was bought at an average price of $23.95 per share, for a total transaction of $47,900.00. Following the completion of the transaction, the director now directly owns 2,000 shares in the company, valued at approximately $47,900. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 6.83% of the company’s stock.

Several institutional investors have recently made changes to their positions in the business. Renaissance Technologies LLC increased its holdings in shares of Mack Cali Realty by 5.3% in the second quarter. Renaissance Technologies LLC now owns 5,012,500 shares of the real estate investment trust’s stock worth $116,741,000 after acquiring an additional 253,500 shares in the last quarter. Frontier Capital Management Co. LLC increased its holdings in shares of Mack Cali Realty by 0.7% in the first quarter. Frontier Capital Management Co. LLC now owns 2,676,565 shares of the real estate investment trust’s stock worth $59,420,000 after acquiring an additional 18,650 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Mack Cali Realty by 8.0% in the second quarter. Northern Trust Corp now owns 2,638,144 shares of the real estate investment trust’s stock worth $61,442,000 after acquiring an additional 194,701 shares in the last quarter. Nuveen Asset Management LLC increased its holdings in shares of Mack Cali Realty by 304.2% in the second quarter. Nuveen Asset Management LLC now owns 1,693,130 shares of the real estate investment trust’s stock worth $39,433,000 after acquiring an additional 1,274,275 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Mack Cali Realty by 3.5% during the second quarter. Bank of New York Mellon Corp now owns 1,662,148 shares of the real estate investment trust’s stock worth $38,711,000 after buying an additional 56,100 shares during the period. Institutional investors own 92.66% of the company’s stock.

A number of research firms have recently weighed in on CLI. Evercore ISI restated a “hold” rating and set a $24.00 target price on shares of Mack Cali Realty in a research report on Sunday, August 11th. ValuEngine downgraded Mack Cali Realty from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Zacks Investment Research upgraded Mack Cali Realty from a “sell” rating to a “hold” rating and set a $19.00 price objective for the company in a report on Tuesday, May 28th. TheStreet upgraded Mack Cali Realty from a “c” rating to a “b-” rating in a report on Monday, May 6th. Finally, BTIG Research reiterated 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, June 13th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $22.62.

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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