California Public Employees Retirement System Sells 10,400 Shares of Mack-Cali Realty Corporation (CLI)
California Public Employees Retirement System lessened its stake in Mack-Cali Realty Corporation (NYSE:CLI) by 4.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 248,799 shares of the real estate investment trust’s stock after selling 10,400 shares during the period. California Public Employees Retirement System owned about 0.28% of Mack-Cali Realty Corporation worth $6,752,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in CLI. BlackRock Inc. boosted its position in Mack-Cali Realty Corporation by 6,678.9% in the 1st quarter. BlackRock Inc. now owns 11,568,140 shares of the real estate investment trust’s stock worth $311,648,000 after purchasing an additional 11,397,492 shares in the last quarter. Nuveen Asset Management LLC boosted its position in Mack-Cali Realty Corporation by 233.1% in the 1st quarter. Nuveen Asset Management LLC now owns 1,893,742 shares of the real estate investment trust’s stock worth $51,017,000 after purchasing an additional 1,325,149 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Mack-Cali Realty Corporation by 13.5% in 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 purchasing an additional 430,437 shares in the last quarter. Marshall Wace North America L.P. purchased a new stake in Mack-Cali Realty Corporation in the 2nd quarter worth approximately $8,404,000. Finally, Russell Investments Group Ltd. boosted its position in Mack-Cali Realty Corporation by 128.8% in the 2nd quarter. Russell Investments Group Ltd. now owns 543,201 shares of the real estate investment trust’s stock worth $14,748,000 after purchasing an additional 305,832 shares in the last quarter. Institutional investors and hedge funds own 99.23% of the company’s stock.
Mack-Cali Realty Corporation (NYSE:CLI) opened at 23.70 on Friday. Mack-Cali Realty Corporation has a 52 week low of $22.70 and a 52 week high of $29.70. The stock’s 50 day moving average price is $23.46 and its 200 day moving average price is $25.88. The firm’s market capitalization is $2.13 billion.
Mack-Cali Realty Corporation (NYSE:CLI) last posted its quarterly earnings results 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 business had revenue of $162.77 million during the quarter, compared to analysts’ expectations of $150.94 million. During the same quarter last year, the firm earned $0.55 earnings per share. On average, equities analysts expect that Mack-Cali Realty Corporation will post ($0.11) EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, October 13th. Shareholders of record on Tuesday, October 3rd were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, October 2nd. This represents a $0.80 dividend on an annualized basis and a yield of 3.38%. Mack-Cali Realty Corporation’s payout ratio is -307.69%.
CLI has been the topic of several recent research reports. BidaskClub upgraded Mack-Cali Realty Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, June 17th. Barclays PLC lowered their price objective 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. Evercore ISI restated an “outperform” rating and issued a $29.00 price objective (down previously from $33.00) on shares of Mack-Cali Realty Corporation in a research report on Wednesday, August 9th. ValuEngine lowered Mack-Cali Realty Corporation from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Finally, SunTrust Banks, Inc. upgraded Mack-Cali Realty Corporation from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a research report on Tuesday, September 5th. They noted that the move was a valuation call. Three analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. Mack-Cali Realty Corporation has a consensus rating of “Hold” and an average target price of $28.43.
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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