Mack Cali Realty Corp (NYSE:CLI) announced a quarterly dividend on Wednesday, March 14th, RTT News reports. Stockholders of record on Tuesday, April 3rd will be given a dividend of 0.20 per share by the real estate investment trust on Friday, April 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.58%.
Mack Cali Realty has decreased its dividend payment by an average of 8.0% annually over the last three years and has increased its dividend every year for the last 2 years. Mack Cali Realty has a dividend payout ratio of 35.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Mack Cali Realty to earn $2.19 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 36.5%.
Mack Cali Realty (NYSE CLI) traded down $0.17 during midday trading on Wednesday, hitting $17.48. 465,940 shares of the stock were exchanged, compared to its average volume of 808,364. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.68. Mack Cali Realty has a 52 week low of $16.67 and a 52 week high of $28.57. The firm has a market capitalization of $1,580.00, a P/E ratio of 291.33, a price-to-earnings-growth ratio of 2.84 and a beta of 1.17.
Mack Cali Realty (NYSE:CLI) last released its quarterly earnings results on Wednesday, February 21st. The real estate investment trust reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.50). Mack Cali Realty had a net margin of 2.16% and a return on equity of 0.79%. The business had revenue of $143.53 million during the quarter, compared to analyst estimates of $146.18 million. research analysts predict that Mack Cali Realty will post 1.83 earnings per share for the current year.
In related news, CFO David J. Smetana purchased 5,800 shares of the stock in a transaction dated Tuesday, March 6th. The stock was bought at an average cost of $16.86 per share, for a total transaction of $97,788.00. Following the completion of the acquisition, the chief financial officer now owns 5,800 shares of the company’s stock, valued at $97,788. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 6.80% of the stock is currently owned by corporate insiders.
Several research analysts have commented on the stock. TheStreet downgraded shares of Mack Cali Realty from a “c” rating to a “d+” rating in a research report on Tuesday, February 27th. ValuEngine upgraded shares of Mack Cali Realty from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Barclays lowered their price objective on shares of Mack Cali Realty from $24.00 to $21.00 and set an “underweight” rating for the company in a research report on Tuesday, January 30th. Zacks Investment Research downgraded shares of Mack Cali Realty from a “hold” rating to a “sell” rating in a research report on Tuesday, January 2nd. Finally, Stifel Nicolaus upgraded shares of Mack Cali Realty from a “sell” rating to a “hold” rating in a research report on Monday, February 26th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. Mack Cali Realty presently has a consensus rating of “Hold” and a consensus price target of $25.83.
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Mack Cali Realty Company Profile
Mack-Cali Realty Corporation is a self-administered and self-managed real estate investment trust (REIT). The Company owns and operates a real estate portfolio of Class A office and office/flex properties. It operates in three segments: commercial and other real estate, multi-family real estate and multi-family services.
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