Wall Street analysts predict that Mack Cali Realty Corp (NYSE:CLI) will announce sales of $168.98 million for the current quarter, according to Zacks. Two analysts have made estimates for Mack Cali Realty’s earnings, with estimates ranging from $140.74 million to $197.21 million. Mack Cali Realty reported sales of $149.89 million during the same quarter last year, which would suggest a positive year over year growth rate of 12.7%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, May 8th.
According to Zacks, analysts expect that Mack Cali Realty will report full year sales of $168.98 million for the current fiscal year, with estimates ranging from $516.32 million to $574.77 million. For the next year, analysts forecast that the company will report sales of $559.43 million per share, with estimates ranging from $506.88 million to $614.52 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Mack Cali Realty.
Mack Cali Realty (NYSE:CLI) last posted its earnings results on Wednesday, February 21st. The real estate investment trust reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.50). The firm had revenue of $143.53 million during the quarter, compared to analyst estimates of $146.18 million. Mack Cali Realty had a net margin of 2.16% and a return on equity of 0.79%.
Several equities analysts have weighed in on CLI shares. SunTrust Banks set a $28.00 target price on shares of Mack Cali Realty and gave the company a “buy” rating in a report on Monday, January 22nd. ValuEngine upgraded shares of Mack Cali Realty from a “hold” rating to a “buy” rating in a report on Friday, December 1st. TheStreet lowered shares of Mack Cali Realty from a “c” rating to a “d+” rating in a report on Tuesday, February 27th. Stifel Nicolaus upgraded shares of Mack Cali Realty from a “sell” rating to a “hold” rating in a report on Monday, February 26th. Finally, Citigroup decreased their price objective on shares of Mack Cali Realty from $23.00 to $18.00 and set a “neutral” rating on the stock in a report on Monday, March 5th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $25.83.
In related news, CFO David J. Smetana acquired 5,800 shares of the firm’s stock in a transaction dated Tuesday, March 6th. The shares were purchased at an average cost of $16.86 per share, for a total transaction of $97,788.00. Following the acquisition, the chief financial officer now owns 5,800 shares in the company, valued at approximately $97,788. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 6.80% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Advisors Preferred LLC acquired a new position in shares of Mack Cali Realty in the 4th quarter worth approximately $164,000. Raymond James Financial Services Advisors Inc. purchased a new stake in Mack Cali Realty during the 4th quarter worth approximately $217,000. Two Sigma Investments LP purchased a new stake in Mack Cali Realty during the 4th quarter worth approximately $254,000. Schroder Investment Management Group purchased a new stake in Mack Cali Realty during the 3rd quarter worth approximately $260,000. Finally, Paloma Partners Management Co purchased a new stake in Mack Cali Realty during the 4th quarter worth approximately $300,000. Hedge funds and other institutional investors own 99.28% of the company’s stock.
CLI stock opened at $17.24 on Wednesday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.68. The firm has a market cap of $1,600.88, a PE ratio of 191.58, a price-to-earnings-growth ratio of 2.88 and a beta of 1.17. Mack Cali Realty has a fifty-two week low of $16.67 and a fifty-two week high of $28.57.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 13th. Stockholders of record on Tuesday, April 3rd will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, April 2nd. This represents a $0.80 annualized dividend and a dividend yield of 4.64%. Mack Cali Realty’s dividend payout ratio is currently 888.99%.
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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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