Mack-Cali Realty Corp. (NYSE:CLI) dropped 1.6% on Friday . The company traded as low as $27.56 and last traded at $27.61, with a volume of 279,370 shares changing hands. The stock had previously closed at $28.07.

CLI has been the subject of a number of recent research reports. Barclays PLC boosted their price objective on shares of Mack-Cali Realty Corp. from $26.00 to $28.00 and gave the company an “underweight” rating in a research report on Tuesday, July 19th. Deutsche Bank AG boosted their target price on shares of Mack-Cali Realty Corp. from $22.00 to $25.00 and gave the company a “hold” rating in a research note on Monday, May 16th. Zacks Investment Research lowered shares of Mack-Cali Realty Corp. from a “buy” rating to a “hold” rating in a research note on Monday, May 9th. Citigroup Inc. boosted their target price on shares of Mack-Cali Realty Corp. from $29.50 to $31.50 and gave the company a “buy” rating in a research note on Thursday, July 7th. Finally, Stifel Nicolaus boosted their target price on shares of Mack-Cali Realty Corp. from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, August 5th. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $26.50.

The company’s market capitalization is $2.46 billion. The firm has a 50 day moving average price of $27.72 and a 200 day moving average price of $24.90.

Mack-Cali Realty Corp. (NYSE:CLI) last announced its quarterly earnings data on Tuesday, August 2nd. The real estate investment trust reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. The business earned $149.23 million during the quarter, compared to analyst estimates of $156.82 million. During the same quarter in the prior year, the company posted $0.46 EPS. On average, equities research analysts anticipate that Mack-Cali Realty Corp. will post $2.11 earnings per share for the current year.

A hedge fund recently bought a new stake in Mack-Cali Realty Corp. stock. RS Investment Management Co. LLC acquired a new position in shares of Mack-Cali Realty Corp. (NYSE:CLI) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 785,060 shares of the real estate investment trust’s stock, valued at approximately $18,331,000. RS Investment Management Co. LLC owned 0.88% of Mack-Cali Realty Corp. as of its most recent filing with the SEC.

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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