Mack-Cali Realty Corporation (NYSE:CLI) Shares Sold by Strs Ohio
Strs Ohio cut its stake in shares of Mack-Cali Realty Corporation (NYSE:CLI) by 11.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 142,268 shares of the real estate investment trust’s stock after selling 19,009 shares during the period. Strs Ohio owned about 0.16% of Mack-Cali Realty Corporation worth $3,861,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of CLI. ING Groep NV bought a new stake in Mack-Cali Realty Corporation during the second quarter valued at $297,000. Russell Investments Group Ltd. increased its stake in Mack-Cali Realty Corporation by 128.8% in the second quarter. Russell Investments Group Ltd. now owns 543,201 shares of the real estate investment trust’s stock valued at $14,748,000 after buying an additional 305,832 shares during the period. Forsta AP Fonden increased its stake in Mack-Cali Realty Corporation by 181.4% in the second quarter. Forsta AP Fonden now owns 33,200 shares of the real estate investment trust’s stock valued at $901,000 after buying an additional 21,400 shares during the period. State Treasurer State of Michigan increased its stake in Mack-Cali Realty Corporation by 1.4% in the second quarter. State Treasurer State of Michigan now owns 37,000 shares of the real estate investment trust’s stock valued at $1,004,000 after buying an additional 500 shares during the period. Finally, Aperio Group LLC increased its stake in Mack-Cali Realty Corporation by 7.9% in the second quarter. Aperio Group LLC now owns 33,012 shares of the real estate investment trust’s stock valued at $896,000 after buying an additional 2,424 shares during the period. 99.59% of the stock is owned by hedge funds and other institutional investors.
Shares of Mack-Cali Realty Corporation (CLI) opened at 24.85 on Tuesday. The stock’s 50 day moving average is $27.01 and its 200 day moving average is $27.48. Mack-Cali Realty Corporation has a 52-week low of $24.59 and a 52-week high of $29.70. The company’s market capitalization is $2.23 billion.
Mack-Cali Realty Corporation (NYSE:CLI) last released its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by $0.01. The firm had revenue of $162.77 million for the quarter, compared to the consensus estimate of $150.94 million. Mack-Cali Realty Corporation had a negative net margin of 3.31% and a negative return on equity of 1.21%. During the same quarter in the prior year, the business posted $0.55 earnings per share. Equities analysts expect that Mack-Cali Realty Corporation will post $0.23 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Shareholders of record on Thursday, July 6th were paid a dividend of $0.20 per share. This is a positive change from Mack-Cali Realty Corporation’s previous quarterly dividend of $0.15. This represents a $0.80 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date was Monday, July 3rd. Mack-Cali Realty Corporation’s dividend payout ratio (DPR) is currently -307.69%.
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Several research firms have weighed in on CLI. Barclays PLC decreased their price target on shares of Mack-Cali Realty Corporation from $29.00 to $28.00 and set an “underweight” rating for the company in a research note on Tuesday, July 18th. BidaskClub downgraded shares of Mack-Cali Realty Corporation from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 12th. Finally, Deutsche Bank AG boosted their target price on shares of Mack-Cali Realty Corporation from $28.00 to $29.00 and gave the stock a “hold” rating in a research report on Thursday, May 25th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. Mack-Cali Realty Corporation presently has a consensus rating of “Hold” and a consensus price target of $30.20.
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.
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