Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Mack Cali Realty Corp (NYSE:CLI) by 18.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 127,724 shares of the real estate investment trust’s stock after acquiring an additional 19,665 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Mack Cali Realty were worth $2,767,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Nuveen Asset Management LLC increased its position in shares of Mack Cali Realty by 304.2% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,693,130 shares of the real estate investment trust’s stock valued at $39,433,000 after buying an additional 1,274,275 shares in the last quarter. Land & Buildings Investment Management LLC bought a new stake in shares of Mack Cali Realty in the 2nd quarter valued at $15,796,000. Dalton Greiner Hartman Maher & Co. bought a new stake in shares of Mack Cali Realty in the 3rd quarter valued at $8,714,000. Renaissance Technologies LLC increased its position in shares of Mack Cali Realty by 5.3% in the 2nd quarter. Renaissance Technologies LLC now owns 5,012,500 shares of the real estate investment trust’s stock valued at $116,741,000 after buying an additional 253,500 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of Mack Cali Realty by 8.0% in the 2nd quarter. Northern Trust Corp now owns 2,638,144 shares of the real estate investment trust’s stock valued at $61,442,000 after buying an additional 194,701 shares in the last quarter. Institutional investors own 92.24% of the company’s stock.
A number of analysts recently commented on CLI shares. ValuEngine cut shares of Mack Cali Realty from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. TheStreet cut shares of Mack Cali Realty from a “b-” rating to a “c+” rating in a research report on Wednesday, August 28th. Peel Hunt restated a “buy” rating on shares of Mack Cali Realty in a research report on Tuesday, October 22nd. Zacks Investment Research upgraded shares of Mack Cali Realty from a “sell” rating to a “hold” rating and set a $23.00 price objective for the company in a research report on Monday, October 14th. Finally, Evercore ISI restated a “hold” rating and issued a $24.00 price objective on shares of Mack Cali Realty in a research report on Sunday, August 11th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Mack Cali Realty has an average rating of “Hold” and an average target price of $24.55.
Shares of CLI traded up $0.07 during trading hours on Wednesday, reaching $21.33. The stock had a trading volume of 437,803 shares, compared to its average volume of 428,345. The company has a market cap of $1.98 billion, a P/E ratio of 11.66, a P/E/G ratio of 8.58 and a beta of 1.06. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 1.76. Mack Cali Realty Corp has a 52 week low of $18.74 and a 52 week high of $24.88. The firm has a 50-day moving average of $21.76 and a 200 day moving average of $22.44.
Mack Cali Realty (NYSE:CLI) last announced its earnings results on Wednesday, October 30th. The real estate investment trust reported ($0.65) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($1.04). The company had revenue of $131.88 million during the quarter, compared to analyst estimates of $120.85 million. Mack Cali Realty had a return on equity of 11.35% and a net margin of 39.15%. Mack Cali Realty’s revenue for the quarter was down .2% on a year-over-year basis. During the same period in the previous year, the company posted $0.43 earnings per share. As a group, equities analysts expect that Mack Cali Realty Corp will post 1.59 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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