Voya Investment Management LLC trimmed its position in Mack Cali Realty Corp (NYSE:CLI) by 8.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 35,265 shares of the real estate investment trust’s stock after selling 3,147 shares during the period. Voya Investment Management LLC’s holdings in Mack Cali Realty were worth $715,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of CLI. Land & Buildings Investment Management LLC boosted its holdings in Mack Cali Realty by 306.2% in the 2nd quarter. Land & Buildings Investment Management LLC now owns 1,672,517 shares of the real estate investment trust’s stock worth $33,919,000 after buying an additional 1,260,800 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Mack Cali Realty by 8.2% during the 2nd quarter. BlackRock Inc. now owns 13,198,378 shares of the real estate investment trust’s stock worth $267,663,000 after purchasing an additional 998,387 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Mack Cali Realty by 41.5% during the 2nd quarter. Victory Capital Management Inc. now owns 2,225,212 shares of the real estate investment trust’s stock worth $45,128,000 after purchasing an additional 652,511 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Mack Cali Realty by 127.7% during the 1st quarter. Millennium Management LLC now owns 619,615 shares of the real estate investment trust’s stock worth $10,354,000 after purchasing an additional 347,461 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of Mack Cali Realty by 5.6% during the 2nd quarter. Renaissance Technologies LLC now owns 3,491,605 shares of the real estate investment trust’s stock worth $70,810,000 after purchasing an additional 183,905 shares during the last quarter. Institutional investors own 98.95% of the company’s stock.
In related news, EVP Robert Andrew Marshall sold 1,426 shares of the company’s stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $21.28, for a total value of $30,345.28. Following the transaction, the executive vice president now directly owns 1,426 shares in the company, valued at $30,345.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 6.83% of the company’s stock.
Several brokerages have recently weighed in on CLI. Deutsche Bank boosted their target price on Mack Cali Realty from $21.00 to $22.00 and gave the stock a “hold” rating in a report on Wednesday, August 29th. Stifel Nicolaus restated a “hold” rating and set a $23.00 target price (up from $21.00) on shares of Mack Cali Realty in a report on Thursday, August 16th. ValuEngine upgraded Mack Cali Realty from a “sell” rating to a “hold” rating in a report on Wednesday, August 15th. Zacks Investment Research cut Mack Cali Realty from a “hold” rating to a “sell” rating in a report on Monday, July 9th. Finally, Citigroup boosted their target price on Mack Cali Realty from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, June 28th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $22.40.
Shares of Mack Cali Realty stock opened at $19.89 on Friday. The company has a market cap of $1.92 billion, a PE ratio of 8.92 and a beta of 1.19. Mack Cali Realty Corp has a 1-year low of $15.86 and a 1-year high of $23.91. 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 (NYSE:CLI) last issued its earnings results on Wednesday, August 1st. The real estate investment trust reported ($0.05) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.49). Mack Cali Realty had a return on equity of 4.70% and a net margin of 13.89%. The company had revenue of $126.58 million for the quarter, compared to analyst estimates of $133.28 million. During the same quarter in the prior year, the firm earned $0.60 earnings per share. The company’s revenue for the quarter was down 90.0% on a year-over-year basis. As a group, analysts expect that Mack Cali Realty Corp will post 1.86 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 12th. Investors of record on Tuesday, October 2nd were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date was Monday, October 1st. Mack Cali Realty’s dividend payout ratio is presently 35.87%.
About Mack Cali Realty
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.
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