Brokerages predict that Mack Cali Realty Corp (NYSE:CLI) will post $0.48 earnings per share for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Mack Cali Realty’s earnings. The highest EPS estimate is $0.51 and the lowest is $0.46. Mack Cali Realty reported earnings of $0.56 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 14.3%. The business is expected to report its next earnings results after the market closes on Wednesday, May 2nd.
According to Zacks, analysts expect that Mack Cali Realty will report full-year earnings of $1.83 per share for the current financial year, with EPS estimates ranging from $1.82 to $1.84. For the next fiscal year, analysts anticipate that the business will report earnings of $2.04 per share, with EPS estimates ranging from $1.81 to $2.29. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Mack Cali Realty.
Mack Cali Realty (NYSE:CLI) last posted its quarterly earnings data on Wednesday, February 21st. The real estate investment trust reported $0.03 EPS for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($0.50). Mack Cali Realty had a net margin of 2.16% and a return on equity of 0.79%. The company had revenue of $143.53 million for the quarter, compared to analyst estimates of $146.18 million.
CLI has been the subject of a number of research analyst reports. SunTrust Banks set a $28.00 price objective on shares of Mack Cali Realty and gave the company a “buy” rating in a research note on Monday, January 22nd. Zacks Investment Research downgraded shares of Mack Cali Realty from a “hold” rating to a “sell” rating in a research note on Tuesday, January 2nd. Barclays dropped their price objective on shares of Mack Cali Realty from $24.00 to $21.00 and set an “underweight” rating for the company in a research note on Tuesday, January 30th. Stifel Nicolaus raised shares of Mack Cali Realty from a “sell” rating to a “hold” rating in a research note on Monday, February 26th. Finally, TheStreet downgraded shares of Mack Cali Realty from a “c” rating to a “d+” rating in a research note on Tuesday, February 27th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. Mack Cali Realty has a consensus rating of “Hold” and an average price target of $25.83.
Shares of NYSE CLI traded down $0.16 on Thursday, reaching $16.83. 466,360 shares of the company traded hands, compared to its average volume of 698,745. Mack Cali Realty has a fifty-two week low of $15.86 and a fifty-two week high of $28.57. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.87 and a quick ratio of 0.87. The company has a market cap of $1,526.97, a P/E ratio of 7.60, a P/E/G ratio of 2.75 and a beta of 1.16.
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 13th. Investors of record on Tuesday, April 3rd will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 4.75%. The ex-dividend date of this dividend is Monday, April 2nd. Mack Cali Realty’s dividend payout ratio (DPR) is presently 35.87%.
In other Mack Cali Realty news, CFO David J. Smetana bought 5,800 shares of the company’s stock in a transaction that occurred on Tuesday, March 6th. The stock was purchased at an average price of $16.86 per share, with a total value of $97,788.00. Following the transaction, the chief financial officer now owns 5,800 shares in the company, valued at $97,788. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 6.80% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Advisors Preferred LLC acquired a new stake in Mack Cali Realty during the 4th quarter worth approximately $164,000. Raymond James Financial Services Advisors Inc. acquired a new stake in Mack Cali Realty during the 4th quarter worth approximately $217,000. Two Sigma Investments LP acquired a new stake in Mack Cali Realty during the 4th quarter worth approximately $254,000. Schroder Investment Management Group acquired a new stake in Mack Cali Realty during the 3rd quarter worth approximately $260,000. Finally, Paloma Partners Management Co acquired a new stake in Mack Cali Realty during the 4th quarter worth approximately $300,000. 99.31% of the stock is owned by hedge funds and other institutional investors.
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Mack Cali Realty 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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