Shares of Mack-Cali Realty Corp. (NYSE:CLI) traded down 1.8% during mid-day trading on Friday . The stock traded as low as $27.31 and last traded at $27.35, with a volume of 223,728 shares traded. The stock had previously closed at $27.84.

Several analysts recently issued reports on the company. Zacks Investment Research lowered Mack-Cali Realty Corp. from a “buy” rating to a “hold” rating in a report on Monday, May 9th. Barclays PLC upped their target price on Mack-Cali Realty Corp. from $21.00 to $22.00 and gave the stock an “underweight” rating in a report on Wednesday, March 30th. Citigroup Inc. upped their target price on Mack-Cali Realty Corp. from $29.50 to $31.50 and gave the stock a “buy” rating in a report on Thursday, July 7th. Stifel Nicolaus upped their target price on Mack-Cali Realty Corp. from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, May 5th. Finally, Deutsche Bank AG dropped their target price on Mack-Cali Realty Corp. from $23.00 to $22.00 and set a “hold” rating on the stock in a report on Monday, March 21st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. Mack-Cali Realty Corp. presently has an average rating of “Hold” and a consensus price target of $25.28.

The company’s 50-day moving average is $26.95 and its 200-day moving average is $23.56. The stock’s market cap is $2.46 billion.

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

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

Other hedge funds and institutional investors have added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Mack-Cali Realty Corp. by 8.6% in the fourth quarter. Vanguard Group Inc. now owns 12,622,433 shares of the real estate investment trust’s stock valued at $294,733,000 after buying an additional 994,540 shares during the last quarter. 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 last quarter. Systematic Financial Management LP increased its stake in shares of Mack-Cali Realty Corp. by 171.0% in the fourth quarter. Systematic Financial Management LP now owns 308,928 shares of the real estate investment trust’s stock valued at $7,213,000 after buying an additional 194,933 shares during the last quarter. Bank of Montreal Can increased its stake in shares of Mack-Cali Realty Corp. by 679.1% in the fourth quarter. Bank of Montreal Can now owns 185,290 shares of the real estate investment trust’s stock valued at $4,327,000 after buying an additional 161,506 shares during the last quarter. Finally, State of Tennessee Treasury Department purchased a new stake in shares of Mack-Cali Realty Corp. during the fourth quarter valued at approximately $1,401,000.

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 properties located primarily in the Northeast. The Company’s segments include commercial and other real estate, multi-family real estate, multi-family services, and corporate & other.

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