Mack-Cali Realty Corp. (CLI) Sets New 52-Week High at $28.75
Shares of Mack-Cali Realty Corp. (NYSE:CLI) hit a new 52-week high on Friday . The stock traded as high as $28.75 and last traded at $28.42, with a volume of 351,527 shares. The stock had previously closed at $27.84.
Several analysts have weighed in on CLI shares. Stifel Nicolaus lifted their price objective on shares of Mack-Cali Realty Corp. from $26.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday, May 5th. Zacks Investment Research upgraded shares of Mack-Cali Realty Corp. from a “hold” rating to a “buy” rating and set a $29.00 target price for the company in a research report on Friday, May 6th. Deutsche Bank AG boosted their target price on shares of Mack-Cali Realty Corp. from $22.00 to $25.00 and gave the company a “hold” rating in a research report on Monday, May 16th. Citigroup Inc. boosted their target price on shares of Mack-Cali Realty Corp. from $29.50 to $31.50 and gave the company a “buy” rating in a research report on Thursday, July 7th. Finally, Barclays PLC boosted their target price on shares of Mack-Cali Realty Corp. from $26.00 to $28.00 and gave the company an “underweight” rating in a research report on Tuesday, July 19th. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $26.50.
The firm has a 50 day moving average price of $27.69 and a 200-day moving average price of $25.25. The firm’s market cap is $2.55 billion.
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. On average, equities research analysts predict 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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