Mack-Cali Realty Corp. (CLI) Reaches New 1-Year High at $28.75
Mack-Cali Realty Corp. (NYSE:CLI) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $28.75 and last traded at $28.42, with a volume of 351,527 shares changing hands. The stock had previously closed at $27.84.
CLI has been the topic of several research reports. Barclays PLC lifted their price target on shares of Mack-Cali Realty Corp. from $26.00 to $28.00 and gave the company an “underweight” rating in a report on Tuesday, July 19th. Deutsche Bank AG lifted their price target on shares of Mack-Cali Realty Corp. from $22.00 to $25.00 and gave the company a “hold” rating in a report on Monday, May 16th. Zacks Investment Research lowered shares of Mack-Cali Realty Corp. from a “buy” rating to a “hold” rating in a report on Monday, May 9th. Stifel Nicolaus lifted their price target on shares of Mack-Cali Realty Corp. from $28.00 to $30.00 and gave the company a “buy” rating in a report on Friday, August 5th. Finally, Citigroup Inc. lifted their price target on shares of Mack-Cali Realty Corp. from $29.50 to $31.50 and gave the company a “buy” rating in a report on Thursday, July 7th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $26.50.
The stock’s market cap is $2.56 billion. The stock has a 50-day moving average price of $27.71 and a 200 day moving average price of $25.27.
Mack-Cali Realty Corp. (NYSE:CLI) last announced its quarterly earnings results on Tuesday, August 2nd. The real estate investment trust reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. The firm earned $149.23 million during the quarter, compared to analysts’ expectations of $156.82 million. During the same period in the previous year, the company posted $0.46 earnings per share. Analysts forecast that Mack-Cali Realty Corp. will post $2.11 earnings per share for the current fiscal year.
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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