Bank of New York Mellon Corp lessened its stake in shares of Mack Cali Realty Corp (NYSE:CLI) by 0.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,986,045 shares of the real estate investment trust’s stock after selling 16,972 shares during the quarter. Bank of New York Mellon Corp owned 2.20% of Mack Cali Realty worth $40,277,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Public Employees Retirement System of Ohio raised its position in shares of Mack Cali Realty by 39.9% during the second quarter. Public Employees Retirement System of Ohio now owns 187,790 shares of the real estate investment trust’s stock worth $3,808,000 after acquiring an additional 53,516 shares during the last quarter. Verition Fund Management LLC bought a new stake in shares of Mack Cali Realty during the second quarter worth $284,000. Tower Research Capital LLC TRC raised its position in shares of Mack Cali Realty by 67.2% during the second quarter. Tower Research Capital LLC TRC now owns 16,360 shares of the real estate investment trust’s stock worth $332,000 after acquiring an additional 6,577 shares during the last quarter. Paloma Partners Management Co bought a new stake in shares of Mack Cali Realty during the second quarter worth $321,000. Finally, Macquarie Group Ltd. raised its position in shares of Mack Cali Realty by 11.1% during the second quarter. Macquarie Group Ltd. now owns 2,135,796 shares of the real estate investment trust’s stock worth $43,313,000 after acquiring an additional 213,070 shares during the last quarter. Institutional investors and hedge funds own 98.65% of the company’s stock.

Shares of Mack Cali Realty stock opened at $21.03 on Thursday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 1.67. Mack Cali Realty Corp has a 12 month low of $15.86 and a 12 month high of $22.56. The firm has a market cap of $1.91 billion, a P/E ratio of 9.43 and a beta of 1.18.

In related news, EVP Robert Andrew Marshall sold 1,426 shares of Mack Cali Realty stock in a transaction on Monday, September 10th. The stock was sold at an average price of $21.28, for a total transaction of $30,345.28. Following the completion of the sale, the executive vice president now directly owns 1,426 shares of the company’s stock, valued at $30,345.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 6.83% of the stock is owned by insiders.

A number of equities research analysts have recently weighed in on the company. Stifel Nicolaus restated a “hold” rating and set a $23.00 target price (up previously from $21.00) on shares of Mack Cali Realty in a research report on Thursday, August 16th. ValuEngine upgraded Mack Cali Realty from a “sell” rating to a “hold” rating in a research report on Friday, October 19th. Zacks Investment Research downgraded Mack Cali Realty from a “hold” rating to a “sell” rating in a research report on Tuesday, October 16th. JPMorgan Chase & Co. downgraded Mack Cali Realty from an “overweight” rating to a “neutral” rating in a research report on Friday, October 5th. Finally, Barclays reaffirmed a “sell” rating and set a $18.00 price objective on shares of Mack Cali Realty in a research note on Sunday, October 14th. Two analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. Mack Cali Realty currently has an average rating of “Hold” and a consensus target price of $21.80.

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About Mack Cali Realty

One of the country's leading real estate investment trusts (REITs), Mack-Cali Realty Corporation is an owner, manager and developer of premier office and multifamily properties in select waterfront and transit-oriented markets throughout the Northeast. Mack-Cali is headquartered in Jersey City, New Jersey, and is the visionary behind the city's flourishing waterfront, where the company is leading development, improvement and place-making initiatives for Harborside, a master-planned destination comprised of class A office, luxury apartments, diverse retail and restaurants, and public spaces.

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Institutional Ownership by Quarter for Mack Cali Realty (NYSE:CLI)

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