Mack-Cali Realty Corp. (NYSE:CLI)’s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $27.94 and last traded at $27.86, with a volume of 475,997 shares changing hands. The stock had previously closed at $27.73.

Several equities analysts have recently issued reports on CLI shares. Zacks Investment Research raised Mack-Cali Realty Corp. from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a report on Thursday, April 14th. Citigroup Inc. upped their target price on Mack-Cali Realty Corp. from $29.50 to $31.50 and gave the company a “buy” rating in a report on Thursday. Stifel Nicolaus upped their target price on Mack-Cali Realty Corp. from $26.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, May 5th. Finally, Deutsche Bank AG upped their target price on Mack-Cali Realty Corp. from $22.00 to $25.00 and gave the company a “hold” rating in a report on Monday, May 16th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $25.28.

The company’s market cap is $2.47 billion. The stock has a 50 day moving average of $26.56 and a 200-day moving average of $23.39.

Mack-Cali Realty Corp. (NYSE:CLI) last released its earnings results on Wednesday, April 27th. The real estate investment trust reported $0.48 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by $0.01. During the same quarter in the previous year, the firm posted $0.43 EPS. Analysts forecast that Mack-Cali Realty Corp. will post $2.08 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Wednesday, July 6th will be issued a dividend of $0.15 per share. The ex-dividend date is Friday, July 1st. This represents a $0.60 annualized dividend and a dividend yield of 2.18%.

Several institutional investors have added to or reduced their stakes in CLI. Strs Ohio raised its position in Mack-Cali Realty Corp. by 0.5% in the fourth quarter. Strs Ohio now owns 169,497 shares of the real estate investment trust’s stock valued at $3,957,000 after buying an additional 899 shares during the last quarter. Retirement Systems of Alabama increased its stake in shares of Mack-Cali Realty Corp. by 1.6% in the fourth quarter. Retirement Systems of Alabama now owns 114,762 shares of the real estate investment trust’s stock valued at $2,680,000 after buying an additional 1,778 shares during the period. Nationwide Fund Advisors increased its stake in shares of Mack-Cali Realty Corp. by 1.3% in the fourth quarter. Nationwide Fund Advisors now owns 209,657 shares of the real estate investment trust’s stock valued at $4,895,000 after buying an additional 2,708 shares during the period. California State Teachers Retirement System increased its stake in shares of Mack-Cali Realty Corp. by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 165,168 shares of the real estate investment trust’s stock valued at $3,857,000 after buying an additional 2,585 shares during the period. Finally, Sei Investments Co. increased its stake in shares of Mack-Cali Realty Corp. by 428.0% in the fourth quarter. Sei Investments Co. now owns 334,273 shares of the real estate investment trust’s stock valued at $7,805,000 after buying an additional 270,965 shares during the period.

Mack-Cali Realty Corporation is a self-administered and self-managed real estate investment trust (REIT). The Company owns and operates a real estate portfolio of Class A office and office/flex and multi-family rental properties located primarily in the Northeast. The Company operates through three segments: commercial and other real estate, multi-family real estate and multi-family services.

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