Mack-Cali Realty Corp. (NYSE:CLI) shares fell 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.

A number of research firms have weighed in on CLI. BTIG Research began coverage on shares of Mack-Cali Realty Corp. in a report on Thursday. They issued a “neutral” rating for the company. Zacks Investment Research cut shares of Mack-Cali Realty Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, August 9th. Stifel Nicolaus boosted their target price 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. Barclays PLC boosted their target price 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. Finally, Deutsche Bank AG boosted their target price 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. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $26.50.

The firm has a 50-day moving average price of $27.72 and a 200-day moving average price of $24.97. The firm’s market cap is $2.46 billion.

Mack-Cali Realty Corp. (NYSE:CLI) last issued its quarterly earnings results on Tuesday, August 2nd. The real estate investment trust reported $0.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.02. The business had revenue of $149.23 million for the quarter, compared to analyst estimates of $156.82 million. During the same quarter in the prior year, the company earned $0.46 EPS. Equities research analysts anticipate that Mack-Cali Realty Corp. will post $2.11 EPS for the current fiscal year.

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