Mack-Cali Realty Corp. (CLI) Sees Strong Trading Volume
Mack-Cali Realty Corp. (NYSE:CLI) saw unusually-high trading volume on Friday . Approximately 500,088 shares were traded during mid-day trading, an increase of 13% from the previous session’s volume of 444,009 shares.The stock last traded at $27.33 and had previously closed at $27.61.
A number of equities research analysts have recently weighed in on the company. Barclays PLC lifted their price objective on Mack-Cali Realty Corp. from $26.00 to $28.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 19th. Deutsche Bank AG lifted their price objective on Mack-Cali Realty Corp. from $22.00 to $25.00 and gave the stock a “hold” rating in a research report on Monday, May 16th. Zacks Investment Research lowered Mack-Cali Realty Corp. from a “buy” rating to a “hold” rating in a research report on Monday, May 9th. Stifel Nicolaus lifted their price objective on Mack-Cali Realty Corp. from $28.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, August 5th. Finally, Citigroup Inc. lifted their price objective on Mack-Cali Realty Corp. from $29.50 to $31.50 and gave the stock a “buy” rating in a research report on Thursday, July 7th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $26.50.
The firm’s 50 day moving average is $27.69 and its 200-day moving average is $24.65. The stock’s market cap is $2.47 billion.
Mack-Cali Realty Corp. (NYSE:CLI) last announced its quarterly earnings results on Tuesday, August 2nd. The real estate investment trust reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. During the same period in the previous year, the company posted $0.46 earnings per share. The firm had revenue of $149.23 million for the quarter, compared to the consensus estimate of $156.82 million. Equities research analysts predict that Mack-Cali Realty Corp. will post $2.11 EPS for the current fiscal year.
A number of institutional investors have recently made changes to their positions in the stock. State of Tennessee Treasury Department purchased a new position in shares of Mack-Cali Realty Corp. during the fourth quarter worth approximately $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 worth $2,259,000 after buying an additional 40,562 shares during the period. Finally, RS Investment Management Co. LLC bought a new stake in shares of Mack-Cali Realty Corp. during the fourth quarter worth about $18,331,000.
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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