Mack-Cali Realty Corporation (NYSE:CLI) Shares Bought by Russell Investments Group Ltd.
Russell Investments Group Ltd. raised its stake in shares of Mack-Cali Realty Corporation (NYSE:CLI) by 128.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 543,201 shares of the real estate investment trust’s stock after buying an additional 305,832 shares during the period. Russell Investments Group Ltd.’s holdings in Mack-Cali Realty Corporation were worth $14,748,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in CLI. Forsta AP Fonden increased its position 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 worth $901,000 after buying an additional 21,400 shares during the last quarter. State Treasurer State of Michigan increased its position 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 worth $1,004,000 after buying an additional 500 shares during the last quarter. Aperio Group LLC increased its position 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 worth $896,000 after buying an additional 2,424 shares during the last quarter. Louisiana State Employees Retirement System increased its position in Mack-Cali Realty Corporation by 3.1% in the second quarter. Louisiana State Employees Retirement System now owns 23,400 shares of the real estate investment trust’s stock worth $635,000 after buying an additional 700 shares during the last quarter. Finally, LS Investment Advisors LLC increased its position in Mack-Cali Realty Corporation by 19.9% in the second quarter. LS Investment Advisors LLC now owns 7,151 shares of the real estate investment trust’s stock worth $194,000 after buying an additional 1,187 shares during the last quarter. 99.59% of the stock is currently owned by institutional investors.
Mack-Cali Realty Corporation (NYSE:CLI) traded down 0.99% during trading on Friday, hitting $24.10. The stock had a trading volume of 362,264 shares. Mack-Cali Realty Corporation has a one year low of $23.77 and a one year high of $29.70. The company’s market cap is $2.16 billion. The firm has a 50 day moving average of $26.38 and a 200-day moving average of $27.33.
Mack-Cali Realty Corporation (NYSE:CLI) last issued its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $0.60 earnings per share for the quarter, missing the Zacks’ consensus estimate 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 firm 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. Equities analysts anticipate that Mack-Cali Realty Corporation will post $0.23 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Thursday, July 6th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, July 3rd. This is a boost from Mack-Cali Realty Corporation’s previous quarterly dividend of $0.15. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.29%. Mack-Cali Realty Corporation’s payout ratio is presently -307.69%.
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A number of equities analysts have recently issued reports on CLI shares. Barclays PLC dropped their price target on Mack-Cali Realty Corporation from $29.00 to $28.00 and set an “underweight” rating on the stock in a research report on Tuesday, July 18th. BidaskClub downgraded Mack-Cali Realty Corporation from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 12th. Deutsche Bank AG increased their price target on 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. Finally, Evercore ISI reissued an “outperform” rating and set a $29.00 price target (down previously from $33.00) on shares of Mack-Cali Realty Corporation in a research report on Wednesday. Three 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 currently has a consensus rating of “Hold” and a consensus price target of $30.00.
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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