Sei Investments Co. increased its position in shares of Mack-Cali Realty Corporation (NYSE:CLI) by 21.5% during the second quarter, Holdings Channel reports. The firm owned 368,475 shares of the real estate investment trust’s stock after buying an additional 65,189 shares during the period. Sei Investments Co.’s holdings in Mack-Cali Realty Corporation were worth $10,000,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. raised 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 worth $103,000 after buying an additional 182 shares during the period. Elkfork Partners LLC raised 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 worth $112,000 after buying an additional 308 shares during the period. Meadow Creek Investment Management LLC raised 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 worth $143,000 after buying an additional 392 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised 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 worth $160,000 after buying an additional 419 shares during the period. Finally, Glen Harbor Capital Management LLC raised its position in 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 worth $173,000 after buying an additional 476 shares during the period. Institutional investors and hedge funds own 99.59% of the company’s stock.

Shares of Mack-Cali Realty Corporation (NYSE CLI) opened at 24.34 on Friday. Mack-Cali Realty Corporation has a 52 week low of $24.26 and a 52 week high of $29.70. The company has a 50-day moving average price of $26.38 and a 200 day moving average price of $27.33. The stock’s market capitalization is $2.19 billion.

Mack-Cali Realty Corporation (NYSE:CLI) last posted its earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by $0.01. Mack-Cali Realty Corporation had a negative net margin of 3.31% and a negative return on equity of 1.21%. The business had revenue of $162.77 million during the quarter, compared to analyst estimates of $150.94 million. During the same period in the previous year, the firm posted $0.55 earnings per share. Analysts forecast that Mack-Cali Realty Corporation will post $0.23 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, July 14th. Shareholders of record on Thursday, July 6th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.29%. This is a boost 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 payout ratio is presently -307.69%.

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A number of research firms recently weighed in on CLI. Evercore ISI reiterated an “outperform” rating and issued a $29.00 price target (down previously from $33.00) on shares of Mack-Cali Realty Corporation in a research report on Wednesday. BidaskClub downgraded Mack-Cali Realty Corporation from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 12th. Barclays PLC reduced their price objective on 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. Finally, Deutsche Bank AG increased their price objective on Mack-Cali Realty Corporation from $28.00 to $29.00 and gave the stock a “hold” rating in a research note on Thursday, May 25th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. Mack-Cali Realty Corporation has a consensus rating of “Hold” and a consensus price target of $30.00.

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

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