Mack-Cali Realty Corp. (CLI) Sees Strong Trading Volume
Mack-Cali Realty Corp. (NYSE:CLI) saw strong trading volume on Friday . 500,088 shares were traded during trading, an increase of 13% from the previous session’s volume of 444,009 shares.The stock last traded at $27.33 and had previously closed at $27.61.
Several analysts recently commented on the company. 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 report on Friday, May 6th. Barclays PLC upped their target price on Mack-Cali Realty Corp. from $26.00 to $28.00 and gave the company an “underweight” rating in a report on Tuesday, July 19th. Stifel Nicolaus upped their target price on Mack-Cali Realty Corp. from $26.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, May 5th. Deutsche Bank AG upped their target price on Mack-Cali Realty Corp. from $22.00 to $25.00 and gave the company a “hold” rating in a report on Monday, May 16th. Finally, Citigroup Inc. upped their target price on 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 equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $26.50.
The company’s 50-day moving average is $27.69 and its 200 day moving average is $24.65. The firm’s market cap is $2.47 billion.
Mack-Cali Realty Corp. (NYSE:CLI) last posted its quarterly earnings results on Tuesday, August 2nd. The real estate investment trust reported $0.55 EPS for the quarter, beating the consensus estimate 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 period in the prior year, the business earned $0.46 earnings per share. On average, equities research analysts expect 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. State of Tennessee Treasury Department purchased a new stake in shares of Mack-Cali Realty Corp. (NYSE:CLI) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 60,000 shares of the real estate investment trust’s stock, valued at approximately $1,401,000. State of Tennessee Treasury Department owned approximately 0.07% of Mack-Cali Realty Corp. at the end of the most recent reporting period.
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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