OppenheimerFunds Inc. grew its position in shares of Mack Cali Realty Corp (NYSE:CLI) by 563.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 66,547 shares of the real estate investment trust’s stock after buying an additional 56,515 shares during the period. OppenheimerFunds Inc. owned about 0.07% of Mack Cali Realty worth $1,112,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Advisors Preferred LLC bought a new position in Mack Cali Realty during the 4th quarter worth approximately $164,000. Raymond James Financial Services Advisors Inc. bought a new position in Mack Cali Realty during the 4th quarter worth approximately $217,000. Two Sigma Investments LP bought a new position in Mack Cali Realty during the 4th quarter worth approximately $254,000. Envestnet Asset Management Inc. lifted its holdings in Mack Cali Realty by 32.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 15,668 shares of the real estate investment trust’s stock worth $262,000 after buying an additional 3,860 shares during the last quarter. Finally, Paloma Partners Management Co bought a new position in Mack Cali Realty during the 4th quarter worth approximately $300,000. 96.82% of the stock is currently owned by institutional investors.
Shares of Mack Cali Realty opened at $20.70 on Thursday, according to MarketBeat.com. The company has a market capitalization of $1.84 billion, a P/E ratio of 9.28 and a beta of 1.21. Mack Cali Realty Corp has a 12-month low of $15.86 and a 12-month high of $28.25. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.78 and a current ratio of 0.78.
Mack Cali Realty (NYSE:CLI) last announced its quarterly earnings results on Wednesday, May 2nd. The real estate investment trust reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.01). The company had revenue of $138.97 million during the quarter, compared to the consensus estimate of $134.47 million. Mack Cali Realty had a return on equity of 2.76% and a net margin of 7.66%. The company’s revenue for the quarter was down 7.3% on a year-over-year basis. During the same period last year, the business posted $0.56 EPS. research analysts forecast that Mack Cali Realty Corp will post 1.82 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 13th. Investors of record on Tuesday, July 3rd will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.86%. The ex-dividend date is Monday, July 2nd. Mack Cali Realty’s dividend payout ratio (DPR) is 35.87%.
A number of research analysts have commented on CLI shares. TheStreet downgraded Mack Cali Realty from a “c” rating to a “d+” rating in a report on Tuesday, February 27th. Barclays reaffirmed an “average” rating on shares of Mack Cali Realty in a report on Thursday, June 14th. Zacks Investment Research raised Mack Cali Realty from a “strong sell” rating to a “hold” rating in a report on Thursday, May 10th. ValuEngine downgraded Mack Cali Realty from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. Finally, Citigroup cut their price target on Mack Cali Realty from $23.00 to $18.00 and set a “neutral” rating on the stock in a report on Monday, March 5th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $25.20.
In other Mack Cali Realty news, CEO Michael J. Demarco bought 68,301 shares of the business’s stock in a transaction on Tuesday, June 12th. The shares were purchased at an average price of $20.12 per share, with a total value of $1,374,216.12. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Nathan Gantcher bought 25,000 shares of the business’s stock in a transaction on Thursday, June 14th. The shares were acquired at an average cost of $19.72 per share, for a total transaction of $493,000.00. The disclosure for this purchase can be found here. Company insiders own 6.83% of the company’s stock.
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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