Brokerages Expect Mack-Cali Realty Corporation (CLI) Will Post Quarterly Sales of $146.18 Million
Equities research analysts expect Mack-Cali Realty Corporation (NYSE:CLI) to post sales of $146.18 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Mack-Cali Realty Corporation’s earnings, with the highest sales estimate coming in at $148.95 million and the lowest estimate coming in at $144.44 million. Mack-Cali Realty Corporation posted sales of $153.73 million in the same quarter last year, which would indicate a negative year over year growth rate of 4.9%. The company is scheduled to announce its next earnings results on Tuesday, February 27th.
On average, analysts expect that Mack-Cali Realty Corporation will report full-year sales of $146.18 million for the current year, with estimates ranging from $576.48 million to $617.83 million. For the next financial year, analysts expect that the firm will report sales of $571.57 million per share, with estimates ranging from $546.31 million to $590.83 million. Zacks’ sales averages are an average based on a survey of analysts that cover Mack-Cali Realty Corporation.
Mack-Cali Realty Corporation (NYSE:CLI) last posted its earnings results on Tuesday, November 7th. The real estate investment trust reported $0.57 EPS for the quarter, missing the Zacks’ consensus estimate of $0.58 by ($0.01). Mack-Cali Realty Corporation had a return on equity of 1.53% and a net margin of 4.14%. The firm had revenue of $160.02 million for the quarter, compared to analyst estimates of $156.18 million. During the same quarter last year, the firm posted $0.60 EPS. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis.
A number of analysts have recently commented on the company. Zacks Investment Research upgraded Mack-Cali Realty Corporation from a “sell” rating to a “hold” rating in a research report on Monday. Barclays PLC dropped their price target on Mack-Cali Realty Corporation from $28.00 to $24.00 and set an “underweight” rating on the stock in a research report on Friday, August 18th. Evercore ISI restated 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, August 9th. Stifel Nicolaus restated a “buy” rating and issued a $30.00 price target on shares of Mack-Cali Realty Corporation in a research report on Thursday, September 21st. Finally, ValuEngine upgraded Mack-Cali Realty Corporation from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $28.43.
Mack-Cali Realty Corporation (NYSE:CLI) traded down $0.05 on Wednesday, hitting $22.75. The stock had a trading volume of 981,300 shares, compared to its average volume of 562,414. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.20 and a quick ratio of 1.20. Mack-Cali Realty Corporation has a twelve month low of $21.18 and a twelve month high of $29.70. The firm has a market capitalization of $2,050.04, a PE ratio of 9.96, a P/E/G ratio of 2.49 and a beta of 1.21.
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A number of hedge funds have recently modified their holdings of CLI. PNC Financial Services Group Inc. boosted its holdings in Mack-Cali Realty Corporation by 5.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,839 shares of the real estate investment trust’s stock valued at $103,000 after purchasing an additional 182 shares in the last quarter. Riverhead Capital Management LLC boosted its holdings in Mack-Cali Realty Corporation by 107.3% in the 2nd quarter. Riverhead Capital Management LLC now owns 4,353 shares of the real estate investment trust’s stock valued at $118,000 after purchasing an additional 2,253 shares in the last quarter. First Mercantile Trust Co. boosted its holdings in Mack-Cali Realty Corporation by 1.5% in the 2nd quarter. First Mercantile Trust Co. now owns 4,640 shares of the real estate investment trust’s stock valued at $126,000 after purchasing an additional 70 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Mack-Cali Realty Corporation by 10.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,580 shares of the real estate investment trust’s stock valued at $179,000 after purchasing an additional 628 shares in the last quarter. Finally, LS Investment Advisors LLC boosted its holdings in Mack-Cali Realty Corporation by 19.9% in the 2nd quarter. LS Investment Advisors LLC now owns 7,151 shares of the real estate investment trust’s stock valued at $194,000 after purchasing an additional 1,187 shares in the last quarter. Hedge funds and other institutional investors own 99.26% of the company’s stock.
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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