Mack-Cali Realty Corporation (NYSE:CLI) had its price target decreased by Citigroup Inc. from $27.50 to $26.00 in a research note issued to investors on Thursday. Citigroup Inc. currently has a neutral rating on the real estate investment trust’s stock.

A number of other brokerages have also weighed in on CLI. BidaskClub raised Mack-Cali Realty Corporation from a sell rating to a hold rating in a research note on Saturday, June 17th. 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 note on Thursday, May 25th. Barclays PLC reduced 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 note on Tuesday, July 18th. 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 note on Wednesday, August 9th. Finally, Zacks Investment Research lowered Mack-Cali Realty Corporation from a hold rating to a sell rating in a research note on Tuesday, September 12th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $28.75.

Mack-Cali Realty Corporation (NYSE CLI) remained flat at $23.10 during midday trading on Thursday. The company’s stock had a trading volume of 107,927 shares. The stock has a 50 day moving average of $23.85 and a 200-day moving average of $26.32. The firm’s market capitalization is $2.07 billion. Mack-Cali Realty Corporation has a 12-month low of $22.70 and a 12-month high of $29.70.

Mack-Cali Realty Corporation (NYSE:CLI) last issued its quarterly 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). Mack-Cali Realty Corporation had a negative return on equity of 1.21% and a negative net margin of 3.31%. The business had revenue of $162.77 million for the quarter, compared to analysts’ expectations of $150.94 million. During the same period in the prior year, the company earned $0.55 EPS. Equities analysts anticipate that Mack-Cali Realty Corporation will post ($0.06) EPS for the current year.

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The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Tuesday, October 3rd will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, October 2nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.46%. Mack-Cali Realty Corporation’s payout ratio is -307.69%.

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Mack-Cali Realty Corporation by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 13,805,834 shares of the real estate investment trust’s stock worth $371,929,000 after buying an additional 177,604 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Mack-Cali Realty Corporation by 1.2% during the 2nd quarter. BlackRock Inc. now owns 11,701,738 shares of the real estate investment trust’s stock worth $317,584,000 after buying an additional 133,598 shares during the last quarter. State Street Corp increased its holdings in shares of Mack-Cali Realty Corporation by 2.6% during the 2nd quarter. State Street Corp now owns 4,237,235 shares of the real estate investment trust’s stock worth $115,002,000 after buying an additional 109,044 shares during the last quarter. LSV Asset Management increased its holdings in shares of Mack-Cali Realty Corporation by 3.6% during the 2nd quarter. LSV Asset Management now owns 3,758,691 shares of the real estate investment trust’s stock worth $102,010,000 after buying an additional 130,100 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Mack-Cali Realty Corporation by 13.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,616,014 shares of the real estate investment trust’s stock worth $98,138,000 after buying an additional 430,437 shares during the last quarter. Institutional investors and hedge funds own 99.23% of the company’s stock.

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.

Analyst Recommendations for Mack-Cali Realty Corporation (NYSE:CLI)

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