Mack-Cali Realty Co. (NYSE:CLI) – Research analysts at SunTrust Banks dropped their Q2 2018 earnings per share (EPS) estimates for shares of Mack-Cali Realty in a report issued on Tuesday, May 22nd. SunTrust Banks analyst M. Lewis now expects that the real estate investment trust will earn $0.44 per share for the quarter, down from their previous forecast of $0.45. SunTrust Banks also issued estimates for Mack-Cali Realty’s Q4 2018 earnings at $0.45 EPS, FY2019 earnings at $2.00 EPS, FY2021 earnings at $1.98 EPS and FY2022 earnings at $2.12 EPS.
Several other analysts have also recently commented on the stock. TheStreet upgraded shares of Mack-Cali Realty from a “d+” rating to a “c-” rating in a research note on Monday, May 14th. Zacks Investment Research upgraded shares of Mack-Cali Realty from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 10th. ValuEngine cut shares of Mack-Cali Realty from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Citigroup reduced their target price on shares of Mack-Cali Realty from $23.00 to $18.00 and set a “neutral” rating for the company in a research note on Monday, March 5th. Finally, Stifel Nicolaus upgraded shares of Mack-Cali Realty from a “sell” rating to a “hold” rating in a research note on Monday, February 26th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $25.83.
CLI stock opened at $18.38 on Thursday. Mack-Cali Realty has a one year low of $15.86 and a one year high of $28.51. The firm has a market capitalization of $1.62 billion, a PE ratio of 8.24 and a beta of 1.15. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.54.
Mack-Cali Realty (NYSE:CLI) last released its 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 return on equity of 2.76% and a net margin of 7.66%. The firm had revenue of $143.53 million during the quarter, compared to analyst estimates of $146.18 million.
In related news, CFO David J. Smetana purchased 5,800 shares of the business’s stock in a transaction dated Tuesday, March 6th. The stock was acquired at an average price of $16.86 per share, for a total transaction of $97,788.00. Following the acquisition, the chief financial officer now directly owns 5,800 shares of the company’s stock, valued at approximately $97,788. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 6.80% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in CLI. Centersquare Investment Management LLC purchased a new position in shares of Mack-Cali Realty in the 1st quarter valued at about $96,338,000. Bank of New York Mellon Corp increased its holdings in shares of Mack-Cali Realty by 38.9% in the 4th quarter. Bank of New York Mellon Corp now owns 7,706,319 shares of the real estate investment trust’s stock valued at $166,147,000 after purchasing an additional 2,158,064 shares in the last quarter. Citadel Advisors LLC increased its holdings in 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 valued at $25,792,000 after acquiring an additional 1,231,738 shares in the last quarter. Land & Buildings Investment Management LLC increased its holdings in 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 valued at $22,717,000 after acquiring an additional 616,289 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in 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 valued at $59,329,000 after acquiring an additional 603,800 shares in the last quarter. Institutional investors and hedge funds own 97.41% of the company’s stock.
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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