First Trust Advisors LP boosted its position in Mack-Cali Realty Corp. (NYSE:CLI) by 167.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 90,662 shares of the real estate investment trust’s stock after buying an additional 56,730 shares during the period. First Trust Advisors LP owned 0.10% of Mack-Cali Realty Corp. worth $2,448,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nomura Asset Management Co. Ltd. increased its position in Mack-Cali Realty Corp. by 6.2% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 53,260 shares of the real estate investment trust’s stock worth $1,244,000 after buying an additional 3,100 shares in the last quarter. Norges Bank bought a new position in Mack-Cali Realty Corp. during the fourth quarter worth $19,219,000. First Manhattan Co. increased its position in Mack-Cali Realty Corp. by 25.0% in the first quarter. First Manhattan Co. now owns 246,939 shares of the real estate investment trust’s stock worth $5,803,000 after buying an additional 49,400 shares in the last quarter. Aperio Group LLC increased its position in Mack-Cali Realty Corp. by 14.6% in the first quarter. Aperio Group LLC now owns 25,974 shares of the real estate investment trust’s stock worth $610,000 after buying an additional 3,303 shares in the last quarter. Finally, Virginia Retirement System bought a new position in Mack-Cali Realty Corp. during the first quarter worth $4,105,000.

Mack-Cali Realty Corp. (NYSE:CLI) traded up 1.64% during mid-day trading on Wednesday, hitting $27.20. The stock had a trading volume of 684,962 shares. The stock’s market cap is $2.44 billion. Mack-Cali Realty Corp. has a 1-year low of $17.35 and a 1-year high of $29.25. The firm’s 50-day moving average price is $27.56 and its 200-day moving average price is $26.02.

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 company had revenue of $149.23 million for the quarter, compared to the consensus estimate of $156.82 million. Mack-Cali Realty Corp. had a negative return on equity of 2.79% and a negative net margin of 8.07%. During the same period in the previous year, the business earned $0.46 EPS. On average, equities analysts expect that Mack-Cali Realty Corp. will post $2.11 earnings per share for the current year.

A number of research analysts have weighed in on CLI shares. Zacks Investment Research upgraded Mack-Cali Realty Corp. from a “hold” rating to a “buy” rating and set a $29.00 price target for the company in a research note on Tuesday, May 31st. Citigroup Inc. raised their price target on 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. Deutsche Bank AG raised their price target on Mack-Cali Realty Corp. from $25.00 to $28.00 and gave the company a “hold” rating in a research note on Monday, July 18th. Barclays PLC raised their price target on Mack-Cali Realty Corp. from $26.00 to $28.00 and gave the company an “underweight” rating in a research note on Tuesday, July 19th. Finally, Stifel Nicolaus raised their price target on 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 research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $27.31.

About Mack-Cali Realty Corp.

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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