BidaskClub Lowers Mack-Cali Realty Corporation (CLI) to Strong Sell
BidaskClub cut shares of Mack-Cali Realty Corporation (NYSE:CLI) from a sell rating to a strong sell rating in a report published on Wednesday.
A number of other analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of Mack-Cali Realty Corporation from a hold rating to a sell rating in a report on Wednesday, March 29th. Deutsche Bank AG increased their price target on shares of Mack-Cali Realty Corporation from $28.00 to $29.00 and gave the stock a hold rating in a report on Thursday, May 25th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. Mack-Cali Realty Corporation currently has an average rating of Hold and a consensus target price of $30.00.
Shares of Mack-Cali Realty Corporation (NYSE CLI) opened at 26.68 on Wednesday. The company has a market cap of $2.40 billion, a P/E ratio of 36.95 and a beta of 1.17. Mack-Cali Realty Corporation has a 12 month low of $24.59 and a 12 month high of $29.70. The company’s 50 day moving average is $27.35 and its 200 day moving average is $27.81.
Mack-Cali Realty Corporation (NYSE:CLI) last announced its quarterly earnings results on Tuesday, May 9th. The real estate investment trust reported $0.56 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.57 by $0.01. Mack-Cali Realty Corporation had a return on equity of 3.77% and a net margin of 10.66%. The firm had revenue of $149.90 million for the quarter, compared to analysts’ expectations of $151.22 million. During the same period last year, the company posted $0.69 earnings per share. The business’s quarterly revenue was down 2.0% on a year-over-year basis. On average, equities research analysts predict that Mack-Cali Realty Corporation will post $0.23 EPS for the current fiscal year.
COPYRIGHT VIOLATION NOTICE: This report was originally reported by Daily Political and is the property of of Daily Political. If you are viewing this report on another publication, it was illegally stolen and republished in violation of international copyright & trademark law. The correct version of this report can be viewed at https://www.dailypolitical.com/2017/07/17/bidaskclub-lowers-mack-cali-realty-corporation-cli-to-strong-sell.html.
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Shareholders of record on Thursday, July 6th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.00%. This is an increase from Mack-Cali Realty Corporation’s previous quarterly dividend of $0.15. The ex-dividend date was Monday, July 3rd. Mack-Cali Realty Corporation’s dividend payout ratio (DPR) is presently 111.11%.
A number of institutional investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. increased its position in Mack-Cali Realty Corporation by 5.0% in the first quarter. PNC Financial Services Group Inc. now owns 3,839 shares of the real estate investment trust’s stock valued at $103,000 after buying an additional 182 shares during the last quarter. Elkfork Partners LLC increased its position in Mack-Cali Realty Corporation by 8.0% in the first quarter. Elkfork Partners LLC now owns 4,158 shares of the real estate investment trust’s stock valued at $112,000 after buying an additional 308 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. increased its position in Mack-Cali Realty Corporation by 0.9% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,493 shares of the real estate investment trust’s stock valued at $128,000 after buying an additional 39 shares during the last quarter. Meadow Creek Investment Management LLC increased its position in Mack-Cali Realty Corporation by 8.0% in the first quarter. Meadow Creek Investment Management LLC now owns 5,292 shares of the real estate investment trust’s stock valued at $143,000 after buying an additional 392 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Mack-Cali Realty Corporation by 7.6% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,952 shares of the real estate investment trust’s stock valued at $160,000 after buying an additional 419 shares in the last quarter. 98.80% of the stock is currently owned by institutional investors and hedge funds.
About Mack-Cali Realty Corporation
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. It operates in three segments: commercial and other real estate, multi-family real estate and multi-family services.
Receive News & Ratings for Mack-Cali Realty Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mack-Cali Realty Corporation and related companies with MarketBeat.com's FREE daily email newsletter.