ValuEngine upgraded shares of Mack Cali Realty (NYSE:CLI) from a sell rating to a hold rating in a research report report published on Friday morning.

Several other brokerages have also issued reports on CLI. Deutsche Bank increased their target price on Mack Cali Realty from $21.00 to $22.00 and gave the stock a hold rating in a research report on Wednesday, August 29th. Stifel Nicolaus reissued a hold rating and issued a $23.00 target price (up previously from $21.00) on shares of Mack Cali Realty in a research report on Thursday, August 16th. Zacks Investment Research lowered Mack Cali Realty from a hold rating to a sell rating in a research report on Monday, July 9th. Citigroup increased their target price on Mack Cali Realty from $18.00 to $20.00 and gave the stock a neutral rating in a research report on Thursday, June 28th. Finally, Barclays reissued a sell rating and issued a $18.00 target price on shares of Mack Cali Realty in a research report on Sunday, October 14th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $21.80.

Shares of NYSE:CLI traded up $0.33 during trading on Friday, hitting $20.28. The stock had a trading volume of 389,613 shares, compared to its average volume of 637,076. Mack Cali Realty has a 12 month low of $15.86 and a 12 month high of $23.45. The firm has a market capitalization of $1.80 billion, a P/E ratio of 9.09 and a beta of 1.19. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.83 and a current ratio of 0.83.

Mack Cali Realty (NYSE:CLI) last announced its earnings results on Wednesday, August 1st. The real estate investment trust reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.49). Mack Cali Realty had a return on equity of 4.70% and a net margin of 13.89%. The firm had revenue of $126.58 million during the quarter, compared to the consensus estimate of $133.28 million. During the same period in the prior year, the company posted $0.60 EPS. The firm’s revenue was down 90.0% on a year-over-year basis. On average, equities analysts forecast that Mack Cali Realty will post 1.83 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, October 12th. Investors of record on Tuesday, October 2nd were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, October 1st. This represents a $0.80 annualized dividend and a dividend yield of 3.94%. Mack Cali Realty’s payout ratio is currently 35.87%.

In related news, EVP Robert Andrew Marshall sold 1,426 shares of the company’s stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $21.28, for a total value of $30,345.28. Following the sale, the executive vice president now owns 1,426 shares in the company, valued at approximately $30,345.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 6.83% of the company’s stock.

Several institutional investors have recently bought and sold shares of CLI. Wells Fargo & Company MN grew its stake in shares of Mack Cali Realty by 7.3% in the 1st quarter. Wells Fargo & Company MN now owns 164,495 shares of the real estate investment trust’s stock worth $2,749,000 after buying an additional 11,159 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Mack Cali Realty by 2.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,393,054 shares of the real estate investment trust’s stock valued at $23,278,000 after purchasing an additional 32,186 shares during the last quarter. Northwestern Mutual Investment Management Company LLC boosted its stake in Mack Cali Realty by 56.7% during the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 18,444 shares of the real estate investment trust’s stock valued at $308,000 after purchasing an additional 6,677 shares during the last quarter. Cubist Systematic Strategies LLC boosted its stake in Mack Cali Realty by 32.8% during the 1st quarter. Cubist Systematic Strategies LLC now owns 41,461 shares of the real estate investment trust’s stock valued at $693,000 after purchasing an additional 10,241 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in Mack Cali Realty by 127.7% during the 1st quarter. Millennium Management LLC now owns 619,615 shares of the real estate investment trust’s stock valued at $10,354,000 after purchasing an additional 347,461 shares during the last quarter. Institutional investors own 98.07% of the company’s stock.

Mack Cali Realty Company Profile

Mack-Cali Realty Corporation is fully-integrated and self-managed company, Mack-Cali has provided world-class management, leasing, and development services throughout New Jersey and the surrounding region for two decades. By regularly investing in its properties and innovative lifestyle amenity packages, Mack-Cali creates environments that empower tenants and residents to reimagine the way they work and live.

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Analyst Recommendations for Mack Cali Realty (NYSE:CLI)

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