Mack-Cali Realty Corp. (CLI) Sees Unusually-High Trading Volume
Mack-Cali Realty Corp. (NYSE:CLI) saw strong trading volume on Monday . 488,456 shares changed hands during trading, a decline of 13% from the previous session’s volume of 564,689 shares.The stock last traded at $27.58 and had previously closed at $27.45.
Several research firms recently issued reports on CLI. Zacks Investment Research lowered Mack-Cali Realty Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, August 9th. Stifel Nicolaus raised their price target on Mack-Cali Realty Corp. from $26.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, May 5th. BTIG Research began coverage on Mack-Cali Realty Corp. in a research report on Thursday. They set a “neutral” rating on the stock. Deutsche Bank AG raised their price target on Mack-Cali Realty Corp. from $25.00 to $28.00 and gave the stock a “hold” rating in a research report on Monday, July 18th. Finally, Citigroup Inc. raised their price target on Mack-Cali Realty Corp. from $29.50 to $31.50 and gave the stock a “buy” rating in a research report on Thursday, July 7th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and an average 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 $25.14. The firm’s market cap is $2.49 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 consensus estimate of $0.53 by $0.02. The business earned $149.23 million during the quarter, compared to analysts’ expectations of $156.82 million. During the same quarter in the previous year, the company posted $0.46 earnings per share. Equities research analysts anticipate 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. RS Investment Management Co. LLC purchased a new stake in Mack-Cali Realty Corp. (NYSE:CLI) during the fourth quarter, according to its most recent Form 13F filing with the 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 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.