Evercore ISI upgraded shares of Mack-Cali Realty Corp. (NYSE:CLI) from a hold rating to a buy rating in a research note released on Monday.

Several other research firms also recently commented on CLI. Barclays PLC upped 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 report on Tuesday, July 19th. BTIG Research assumed coverage on shares of Mack-Cali Realty Corp. in a report on Thursday, August 25th. They issued a neutral rating on the stock. Zacks Investment Research downgraded shares of Mack-Cali Realty Corp. from a buy rating to a hold rating in a report on Tuesday, August 9th. Citigroup Inc. upped their price objective 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. Finally, Stifel Nicolaus upped their price objective 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. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $27.31.

Mack-Cali Realty Corp. (NYSE:CLI) opened at 27.20 on Monday. Mack-Cali Realty Corp. has a one year low of $17.35 and a one year high of $29.25. The company’s market capitalization is $2.44 billion. The company’s 50-day moving average is $27.56 and its 200 day moving average is $26.03.

Mack-Cali Realty Corp. (NYSE:CLI) last released its quarterly earnings data on Tuesday, August 2nd. The real estate investment trust reported $0.55 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.02. Mack-Cali Realty Corp. had a negative net margin of 8.07% and a negative return on equity of 2.79%. The firm had revenue of $149.23 million for the quarter, compared to the consensus estimate of $156.82 million. During the same period in the previous year, the company earned $0.46 earnings per share. Analysts predict that Mack-Cali Realty Corp. will post $2.11 EPS for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp boosted its position in Mack-Cali Realty Corp. by 0.9% in the first quarter. State Street Corp now owns 4,070,967 shares of the real estate investment trust’s stock worth $95,671,000 after buying an additional 36,132 shares during the period. Goldman Sachs Group Inc. boosted its position in Mack-Cali Realty Corp. by 88.1% in the first quarter. Goldman Sachs Group Inc. now owns 1,311,429 shares of the real estate investment trust’s stock worth $30,818,000 after buying an additional 614,127 shares during the period. Aperio Group LLC boosted 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 during the period. Land & Buildings Investment Management LLC boosted its position in Mack-Cali Realty Corp. by 5.9% in the first quarter. Land & Buildings Investment Management LLC now owns 866,300 shares of the real estate investment trust’s stock worth $20,358,000 after buying an additional 48,400 shares during the period. Finally, Nuveen Asset Management LLC boosted its position in Mack-Cali Realty Corp. by 54.8% in the first quarter. Nuveen Asset Management LLC now owns 230,734 shares of the real estate investment trust’s stock worth $5,422,000 after buying an additional 81,695 shares during the period.

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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