State Treasurer State of Michigan boosted its stake in Mack-Cali Realty Corporation (NYSE:CLI) by 1.4% during the second quarter, Holdings Channel reports. The fund owned 37,000 shares of the real estate investment trust’s stock after buying an additional 500 shares during the period. State Treasurer State of Michigan’s holdings in Mack-Cali Realty Corporation were worth $1,004,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the company. PNC Financial Services Group Inc. boosted its stake in shares of 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 boosted its stake in shares of 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. Meadow Creek Investment Management LLC boosted its stake in shares of 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 during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of 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 during the last quarter. Finally, Glen Harbor Capital Management LLC boosted its stake in shares of Mack-Cali Realty Corporation by 8.0% in the first quarter. Glen Harbor Capital Management LLC now owns 6,426 shares of the real estate investment trust’s stock valued at $173,000 after buying an additional 476 shares during the last quarter. Hedge funds and other institutional investors own 99.59% of the company’s stock.

Mack-Cali Realty Corporation (CLI) traded up 0.20% during trading on Tuesday, hitting $24.90. The stock had a trading volume of 98,764 shares. The firm’s market cap is $2.24 billion. 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 one year low of $24.59 and a one year high of $29.70.

Mack-Cali Realty Corporation (NYSE:CLI) last announced its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $0.60 EPS for the quarter, missing the Zacks’ consensus estimate of $0.61 by $0.01. The business had revenue of $162.77 million during the quarter, compared to analysts’ expectations 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 period in the prior year, the firm earned $0.55 EPS. Equities analysts anticipate that Mack-Cali Realty Corporation will post $0.23 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Thursday, July 6th were given a $0.20 dividend. The ex-dividend date of this dividend was Monday, July 3rd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.22%. This is an increase from Mack-Cali Realty Corporation’s previous quarterly dividend of $0.15. Mack-Cali Realty Corporation’s payout ratio is currently -307.69%.

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CLI has been the subject of several analyst reports. BidaskClub cut Mack-Cali Realty Corporation from a “hold” rating to a “sell” rating in a report on Thursday, June 29th. Barclays PLC dropped their target price on Mack-Cali Realty Corporation from $29.00 to $28.00 and set an “underweight” rating for the company in a report on Tuesday, July 18th. Finally, Deutsche Bank AG upped their target price on Mack-Cali Realty Corporation from $28.00 to $29.00 and gave the company a “hold” rating in a report on Thursday, May 25th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. Mack-Cali Realty Corporation presently has an average rating of “Hold” and an average price target of $30.20.

Mack-Cali Realty Corporation Company Profile

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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Institutional Ownership by Quarter for Mack-Cali Realty Corporation (NYSE:CLI)

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