Mack Cali Realty Corp (NYSE:CLI) declared a quarterly dividend on Wednesday, March 14th, RTT News reports. Stockholders of record on Tuesday, April 3rd will be paid 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 4.70%. The ex-dividend date of this dividend is Monday, April 2nd.
Mack Cali Realty has decreased its dividend payment by an average of 8.0% per year over the last three years and has raised its dividend annually for the last 2 consecutive 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%.
Shares of CLI stock traded down $0.23 on Wednesday, hitting $17.01. 596,473 shares of the stock were exchanged, compared to its average volume of 705,760. The firm has a market capitalization of $1,569.33, a price-to-earnings ratio of 189.02, a P/E/G ratio of 2.82 and a beta of 1.17. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.87 and a quick ratio of 0.87. Mack Cali Realty has a 1-year low of $16.67 and a 1-year high of $28.57.
Mack Cali Realty (NYSE:CLI) last announced its quarterly earnings data on Wednesday, February 21st. The real estate investment trust reported $0.03 EPS for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($0.50). The company had revenue of $143.53 million for the quarter, compared to analyst estimates of $146.18 million. Mack Cali Realty had a net margin of 2.16% and a return on equity of 0.79%. equities research analysts predict that Mack Cali Realty will post 1.83 earnings per share for the current year.
In other news, CFO David J. Smetana acquired 5,800 shares of the company’s stock in a transaction dated Tuesday, March 6th. The stock was bought at an average price of $16.86 per share, with a total value of $97,788.00. Following the completion of the acquisition, the chief financial officer now owns 5,800 shares in the company, valued at approximately $97,788. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 6.80% of the company’s stock.
Several research analysts recently issued reports on CLI shares. SunTrust Banks set a $28.00 price target on shares of Mack Cali Realty and gave the stock a “buy” rating in a research report on Monday, January 22nd. Zacks Investment Research lowered shares of Mack Cali Realty from a “hold” rating to a “sell” rating in a research report on Tuesday, January 2nd. Barclays dropped their price target 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. ValuEngine raised shares of Mack Cali Realty from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Finally, Stifel Nicolaus raised 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 company. The company has an average rating of “Hold” and an average price target of $25.83.
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About Mack Cali Realty
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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