Shares of Mack Cali Realty Corp (NYSE:CLI) have received an average rating of “Hold” from the nine analysts that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $22.75.
A number of equities research analysts have weighed in on CLI shares. Citigroup upped their price objective on shares of Mack Cali Realty from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, June 28th. Deutsche Bank upped their target price on shares of Mack Cali Realty from $21.00 to $22.00 and gave the stock a “hold” rating in a research note on Wednesday, August 29th. ValuEngine downgraded shares of Mack Cali Realty from a “hold” rating to a “sell” rating in a research note on Thursday, September 27th. Stifel Nicolaus dropped their target price on shares of Mack Cali Realty from $23.00 to $21.00 and set a “hold” rating on the stock in a research note on Tuesday, September 25th. Finally, Zacks Investment Research downgraded shares of Mack Cali Realty from a “hold” rating to a “sell” rating in a research note on Monday, July 9th.
Shares of CLI opened at $19.89 on Wednesday. The stock has a market capitalization of $1.92 billion, a price-to-earnings ratio of 8.92 and a beta of 1.19. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.83 and a current ratio of 0.83. Mack Cali Realty has a fifty-two week low of $15.86 and a fifty-two week high of $23.91.
Mack Cali Realty (NYSE:CLI) last announced its quarterly earnings data on Wednesday, August 1st. The real estate investment trust reported ($0.05) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.44 by ($0.49). The business had revenue of $126.58 million during the quarter, compared to analysts’ expectations of $133.28 million. Mack Cali Realty had a return on equity of 4.70% and a net margin of 13.89%. Mack Cali Realty’s revenue for the quarter was down 90.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.60 EPS. As a group, equities analysts predict that Mack Cali Realty will post 1.86 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, October 12th. Stockholders of record on Tuesday, October 2nd were paid a $0.20 dividend. The ex-dividend date was Monday, October 1st. This represents a $0.80 annualized dividend and a dividend yield of 4.02%. Mack Cali Realty’s dividend payout ratio is presently 35.87%.
In other news, EVP Robert Andrew Marshall sold 1,426 shares of the company’s stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $21.28, for a total value of $30,345.28. Following the transaction, the executive vice president now owns 1,426 shares in the company, valued at $30,345.28. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 6.83% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. State of Alaska Department of Revenue lifted its position in Mack Cali Realty by 89.9% during the second quarter. State of Alaska Department of Revenue now owns 7,424 shares of the real estate investment trust’s stock valued at $150,000 after purchasing an additional 3,514 shares during the period. Point72 Hong Kong Ltd lifted its position in Mack Cali Realty by 729.3% during the second quarter. Point72 Hong Kong Ltd now owns 8,973 shares of the real estate investment trust’s stock valued at $182,000 after purchasing an additional 7,891 shares during the period. Envestnet Asset Management Inc. lifted its position in Mack Cali Realty by 32.7% during the first quarter. Envestnet Asset Management Inc. now owns 15,668 shares of the real estate investment trust’s stock valued at $262,000 after purchasing an additional 3,860 shares during the period. Koch Industries Inc. bought a new position in Mack Cali Realty during the first quarter valued at approximately $272,000. Finally, Verition Fund Management LLC bought a new position in Mack Cali Realty during the second quarter valued at approximately $284,000. Institutional investors own 98.95% of the company’s stock.
Mack Cali Realty Company Profile
Mack-Cali Realty Corporation is fully-integrated and self-managed company, Mack-Cali has provided world-class management, leasing, and development services throughout New Jersey and the surrounding region for two decades. By regularly investing in its properties and innovative lifestyle amenity packages, Mack-Cali creates environments that empower tenants and residents to reimagine the way they work and live.
Recommended Story: Why does a company issue an IPO?
Receive News & Ratings for Mack Cali Realty Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mack Cali Realty and related companies with MarketBeat.com's FREE daily email newsletter.