Mack-Cali Realty Corp. (NYSE:CLI) shares dropped 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. The stock had previously closed at $27.84.

CLI has been the subject of several research analyst reports. Zacks Investment Research upgraded Mack-Cali Realty Corp. from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research note on Thursday, April 14th. Citigroup Inc. lifted their price target on Mack-Cali Realty Corp. from $29.50 to $31.50 and gave the company a “buy” rating in a research report on Thursday, July 7th. Stifel Nicolaus lifted their price target on Mack-Cali Realty Corp. from $26.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, May 5th. Deutsche Bank AG lifted their price target on Mack-Cali Realty Corp. from $22.00 to $25.00 and gave the company a “hold” rating in a research report on Monday, May 16th. Finally, Barclays PLC lifted their price target on Mack-Cali Realty Corp. from $21.00 to $22.00 and gave the company an “underweight” rating in a research report on Wednesday, March 30th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. Mack-Cali Realty Corp. currently has an average rating of “Hold” and a consensus price target of $25.28.

The firm’s market cap is $2.46 billion. The company’s 50 day moving average is $26.99 and its 200 day moving average is $23.59.

Mack-Cali Realty Corp. (NYSE:CLI) last released its quarterly earnings data 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 period last year, the business earned $0.43 earnings per share. On average, equities research analysts anticipate that Mack-Cali Realty Corp. will post $2.08 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Wednesday, July 6th were given a $0.15 dividend. The ex-dividend date was Friday, July 1st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.18%.

Other hedge funds have recently made changes to their positions in the company. Liberty Mutual Group Asset Management Inc. boosted its stake in shares of Mack-Cali Realty Corp. by 51.3% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 57,425 shares of the real estate investment trust’s stock worth $1,341,000 after buying an additional 19,481 shares during the period. State of Tennessee Treasury Department purchased a new stake in shares of Mack-Cali Realty Corp. during the fourth quarter worth about $1,401,000. ProShare Advisors LLC boosted its stake in shares of Mack-Cali Realty Corp. by 20.2% in the fourth quarter. ProShare Advisors LLC now owns 60,635 shares of the real estate investment trust’s stock worth $1,416,000 after buying an additional 10,180 shares during the period. Cornerstone Capital Management Holdings LLC. boosted its stake in shares of Mack-Cali Realty Corp. by 72.2% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 96,762 shares of the real estate investment trust’s stock worth $2,259,000 after buying an additional 40,562 shares during the period. Finally, Retirement Systems of Alabama boosted 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 worth $2,680,000 after buying an additional 1,778 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 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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