Mack-Cali Realty Corp. (NYSE:CLI) shares dropped 1.5% during mid-day trading on Thursday . The company traded as low as $26.93 and last traded at $27.15, with a volume of 360,890 shares. The stock had previously closed at $27.56.

CLI has been the topic of a number of recent analyst reports. Stifel Nicolaus boosted their price target on shares of Mack-Cali Realty Corp. from $28.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, August 5th. Citigroup Inc. boosted their price target on shares of Mack-Cali Realty Corp. from $29.50 to $31.50 and gave the stock a “buy” rating in a research note on Thursday, July 7th. Zacks Investment Research upgraded shares of Mack-Cali Realty Corp. from a “hold” rating to a “buy” rating and set a $29.00 price target on the stock in a research note on Tuesday, May 31st. Deutsche Bank AG boosted their price target on shares of Mack-Cali Realty Corp. from $25.00 to $28.00 and gave the stock a “hold” rating in a research note on Monday, July 18th. Finally, Barclays PLC boosted their price target on shares of Mack-Cali Realty Corp. from $26.00 to $28.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 19th. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $26.50.

The company’s 50 day moving average is $27.58 and its 200-day moving average is $24.38. The firm’s market cap is $2.44 billion.

Mack-Cali Realty Corp. (NYSE:CLI) last posted its quarterly earnings results on Tuesday, August 2nd. The real estate investment trust reported $0.55 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.02. During the same quarter in the previous year, the business posted $0.46 earnings per share. The business earned $149.23 million during the quarter, compared to the consensus estimate of $156.82 million. Equities research analysts predict that Mack-Cali Realty Corp. will post $2.09 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, July 15th. Stockholders 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 2.20%.

Several hedge funds and institutional investors have bought and sold shares of the company. Liberty Mutual Group Asset Management Inc. increased its position in 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 last quarter. State of Tennessee Treasury Department purchased a new stake in shares of Mack-Cali Realty Corp. during the fourth quarter valued at $1,401,000. Cornerstone Capital Management Holdings LLC. increased 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 valued at $2,259,000 after buying an additional 40,562 shares in 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 in the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of Mack-Cali Realty Corp. by 2.0% in the fourth quarter. Principal Financial Group Inc. now owns 286,590 shares of the real estate investment trust’s stock valued at $6,692,000 after buying an additional 5,591 shares in the last quarter.

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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