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.

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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.

Analyst Recommendations for Mack-Cali Realty Corporation (NYSE:CLI)

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