Q3 2018 EPS Estimates for Mack Cali Realty Corp Increased by SunTrust Banks (CLI)

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Mack Cali Realty Corp (NYSE:CLI) – Stock analysts at SunTrust Banks increased their Q3 2018 earnings per share estimates for shares of Mack Cali Realty in a report released on Wednesday, August 15th. SunTrust Banks analyst M. Lewis now anticipates that the real estate investment trust will earn $0.45 per share for the quarter, up from their previous forecast of $0.44. SunTrust Banks also issued estimates for Mack Cali Realty’s Q4 2018 earnings at $0.46 EPS, FY2018 earnings at $1.86 EPS, FY2019 earnings at $1.93 EPS, FY2020 earnings at $1.96 EPS, FY2021 earnings at $1.92 EPS and FY2022 earnings at $2.05 EPS.

Mack Cali Realty (NYSE:CLI) last issued its quarterly earnings data on Wednesday, August 1st. The real estate investment trust reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $126.58 million during the quarter, compared to analysts’ expectations of $133.28 million. During the same period in the previous year, the business earned $0.60 earnings per share. The business’s quarterly revenue was down 90.0% on a year-over-year basis.

A number of other brokerages have also recently commented on CLI. Barclays reissued an “average” rating on shares of Mack Cali Realty in a research note on Thursday, June 14th. Citigroup lifted their price objective on shares of Mack Cali Realty from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, June 28th. Zacks Investment Research raised shares of Mack Cali Realty from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 10th. TheStreet raised shares of Mack Cali Realty from a “d+” rating to a “c-” rating in a research note on Monday, May 14th. Finally, ValuEngine raised shares of Mack Cali Realty from a “sell” rating to a “hold” rating in a research note on Wednesday, August 15th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $22.60.

Shares of NYSE:CLI opened at $21.47 on Monday. Mack Cali Realty has a 52 week low of $15.86 and a 52 week high of $24.04. The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of 9.63 and a beta of 1.19. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.83 and a quick ratio of 0.83.

In other Mack Cali Realty news, CEO Michael J. Demarco purchased 68,301 shares of Mack Cali Realty stock in a transaction dated Tuesday, June 12th. The stock was acquired at an average price of $20.12 per share, for a total transaction of $1,374,216.12. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Nathan Gantcher purchased 25,000 shares of Mack Cali Realty stock in a transaction dated Thursday, June 14th. The stock was acquired at an average price of $19.72 per share, with a total value of $493,000.00. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 118,301 shares of company stock valued at $2,382,216. Company insiders own 6.83% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Mutual of America Capital Management LLC raised its holdings in shares of Mack Cali Realty by 4.4% in the 2nd quarter. Mutual of America Capital Management LLC now owns 77,253 shares of the real estate investment trust’s stock valued at $1,567,000 after purchasing an additional 3,289 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in shares of Mack Cali Realty by 89.9% in the 2nd quarter. State of Alaska Department of Revenue now owns 7,424 shares of the real estate investment trust’s stock valued at $150,000 after purchasing an additional 3,514 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Mack Cali Realty by 32.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 15,668 shares of the real estate investment trust’s stock valued at $262,000 after purchasing an additional 3,860 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in shares of Mack Cali Realty by 7.5% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 55,700 shares of the real estate investment trust’s stock valued at $931,000 after purchasing an additional 3,910 shares in the last quarter. Finally, Aperio Group LLC raised its holdings in shares of Mack Cali Realty by 11.6% in the 1st quarter. Aperio Group LLC now owns 43,736 shares of the real estate investment trust’s stock valued at $731,000 after purchasing an additional 4,550 shares in the last quarter. Institutional investors and hedge funds own 97.36% of the company’s stock.

Mack Cali Realty Company Profile

Mack-Cali Realty Corporation is a fully integrated, self-administered, self-managed real estate investment trust (REIT) providing management, leasing, development, and other tenant-related services for its two-platform operations of waterfront and transit-based office and luxury multi-family assets. Mack-Cali provides its tenants and residents with the most innovative communities that empower them to re-imagine the way they work and live.

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Earnings History and Estimates for Mack Cali Realty (NYSE:CLI)

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