Mack-Cali Realty Corporation (NYSE:CLI) shares reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $24.53 and last traded at $24.54, with a volume of 403,761 shares trading hands. The stock had previously closed at $24.80.

CLI has been the topic of a number of recent research reports. BidaskClub lowered shares of Mack-Cali Realty Corporation from a “hold” rating to a “sell” rating in a report on Thursday, June 29th. Barclays PLC reduced their target price on shares of Mack-Cali Realty Corporation from $29.00 to $28.00 and set an “underweight” rating on the stock in a report on Tuesday, July 18th. Evercore ISI restated an “outperform” rating and issued a $29.00 target price (down from $33.00) on shares of Mack-Cali Realty Corporation in a report on Wednesday. Finally, Deutsche Bank AG upped their target price on shares of 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 investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $30.00.

The stock’s market cap is $2.20 billion. The stock’s 50-day moving average price is $26.78 and its 200-day moving average price is $27.44.

Mack-Cali Realty Corporation (NYSE:CLI) last released its earnings results 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 return on equity of 1.21% and a negative net margin of 3.31%. During the same quarter in the previous year, the firm earned $0.55 EPS. Equities research analysts predict that Mack-Cali Realty Corporation will post $0.23 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Thursday, July 6th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date was Monday, July 3rd. This is an increase from Mack-Cali Realty Corporation’s previous quarterly dividend of $0.15. Mack-Cali Realty Corporation’s dividend payout ratio is currently -307.69%.

A number of large investors have recently added to or reduced their stakes in CLI. Shelton Capital Management increased its stake in Mack-Cali Realty Corporation by 17.1% in the first quarter. Shelton Capital Management now owns 17,246 shares of the real estate investment trust’s stock worth $465,000 after buying an additional 2,523 shares in the last quarter. Piedmont Investment Advisors LLC increased its stake in Mack-Cali Realty Corporation by 131.2% in the first quarter. Piedmont Investment Advisors LLC now owns 21,806 shares of the real estate investment trust’s stock worth $587,000 after buying an additional 12,373 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in Mack-Cali Realty Corporation by 42.0% in the first quarter. Daiwa Securities Group Inc. now owns 7,100 shares of the real estate investment trust’s stock worth $191,000 after buying an additional 2,100 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Mack-Cali Realty Corporation by 1.2% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 88,275 shares of the real estate investment trust’s stock worth $2,378,000 after buying an additional 1,043 shares in the last quarter. Finally, Teachers Advisors LLC increased its stake in Mack-Cali Realty Corporation by 27.4% in the fourth quarter. Teachers Advisors LLC now owns 201,726 shares of the real estate investment trust’s stock worth $5,854,000 after buying an additional 43,329 shares in the last quarter. Institutional investors and hedge funds own 99.59% of the company’s stock.

TRADEMARK VIOLATION NOTICE: “Mack-Cali Realty Corporation (CLI) Hits New 1-Year Low at $24.53” was first published by Daily Political and is owned by of Daily Political. If you are reading this news story on another website, it was stolen and reposted in violation of U.S. and international trademark and copyright law. The legal version of this news story can be read at https://www.dailypolitical.com/2017/08/09/mack-cali-realty-corporation-cli-hits-new-1-year-low-at-24-53.html.

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.