Mack-Cali Realty Co. (NYSE:CLI) has been assigned a consensus recommendation of “Hold” from the ten research firms that are currently covering the company, Marketbeat reports. Three analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $25.00.
Several research analysts have recently commented on the stock. Zacks Investment Research raised shares of Mack-Cali Realty from a “strong sell” rating to a “hold” rating in a report on Thursday, May 10th. TheStreet raised shares of Mack-Cali Realty from a “d+” rating to a “c-” rating in a report on Monday. ValuEngine lowered shares of Mack-Cali Realty from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Citigroup cut their price objective on shares of Mack-Cali Realty from $23.00 to $18.00 and set a “neutral” rating on the stock in a research report on Monday, March 5th. 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.
In other news, CFO David J. Smetana acquired 5,800 shares of the business’s stock in a transaction that occurred on Tuesday, March 6th. The shares were purchased at an average cost of $16.86 per share, for a total transaction of $97,788.00. Following the transaction, the chief financial officer now directly owns 5,800 shares in the company, valued at approximately $97,788. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 6.80% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in CLI. Centersquare Investment Management LLC bought a new stake in shares of Mack-Cali Realty during the 1st quarter worth about $96,338,000. Bank of New York Mellon Corp raised its position in shares of Mack-Cali Realty by 38.9% during the 4th quarter. Bank of New York Mellon Corp now owns 7,706,319 shares of the real estate investment trust’s stock worth $166,147,000 after buying an additional 2,158,064 shares in the last quarter. Citadel Advisors LLC raised its position in shares of Mack-Cali Realty by 395.1% during the 1st quarter. Citadel Advisors LLC now owns 1,543,507 shares of the real estate investment trust’s stock worth $25,792,000 after buying an additional 1,231,738 shares in the last quarter. Land & Buildings Investment Management LLC raised its position in shares of Mack-Cali Realty by 140.9% during the 4th quarter. Land & Buildings Investment Management LLC now owns 1,053,685 shares of the real estate investment trust’s stock worth $22,717,000 after buying an additional 616,289 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Mack-Cali Realty by 28.1% during the 4th quarter. Renaissance Technologies LLC now owns 2,751,800 shares of the real estate investment trust’s stock worth $59,329,000 after buying an additional 603,800 shares in the last quarter. Institutional investors own 99.53% of the company’s stock.
Shares of NYSE CLI traded down $0.04 during midday trading on Friday, hitting $17.51. The company’s stock had a trading volume of 22,402 shares, compared to its average volume of 661,971. Mack-Cali Realty has a 1-year low of $17.75 and a 1-year high of $18.02. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.78 and a current ratio of 0.78. The firm has a market capitalization of $1.60 billion, a PE ratio of 7.91 and a beta of 1.15.
Mack-Cali Realty (NYSE:CLI) last posted its quarterly earnings results on Wednesday, February 21st. The real estate investment trust reported $0.03 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($0.50). Mack-Cali Realty had a net margin of 7.66% and a return on equity of 2.76%. The business had revenue of $143.53 million during the quarter, compared to analyst estimates of $146.18 million. equities analysts forecast that Mack-Cali Realty will post 1.85 earnings per share for the current year.
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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