Schwab Charles Investment Management Inc. lifted its position in Mack Cali Realty Corp (NYSE:CLI) by 9.3% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 1,444,996 shares of the real estate investment trust’s stock after buying an additional 122,818 shares during the quarter. Schwab Charles Investment Management Inc.’s holdings in Mack Cali Realty were worth $29,305,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. State of Alaska Department of Revenue boosted its position in Mack Cali Realty by 89.9% during the second quarter. State of Alaska Department of Revenue now owns 7,424 shares of the real estate investment trust’s stock worth $150,000 after purchasing an additional 3,514 shares during the period. Envestnet Asset Management Inc. boosted its position in Mack Cali Realty by 32.7% during the first quarter. Envestnet Asset Management Inc. now owns 15,668 shares of the real estate investment trust’s stock worth $262,000 after purchasing an additional 3,860 shares during the period. Koch Industries Inc. bought a new stake in Mack Cali Realty during the first quarter worth approximately $272,000. Northwestern Mutual Investment Management Company LLC boosted its position in Mack Cali Realty by 56.7% during the first quarter. Northwestern Mutual Investment Management Company LLC now owns 18,444 shares of the real estate investment trust’s stock worth $308,000 after purchasing an additional 6,677 shares during the period. Finally, Xact Kapitalforvaltning AB bought a new stake in Mack Cali Realty during the first quarter worth approximately $313,000. 98.96% of the stock is owned by institutional investors and hedge funds.
Shares of CLI stock opened at $21.02 on Wednesday. Mack Cali Realty Corp has a 12 month low of $15.86 and a 12 month high of $24.04. The company has a market cap of $1.97 billion, a PE ratio of 9.43 and a beta of 1.18. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.83 and a quick ratio of 0.83.
Mack Cali Realty (NYSE:CLI) last issued its quarterly earnings results 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 for the quarter, compared to analyst estimates of $133.28 million. During the same quarter last year, the firm earned $0.60 earnings per share. The firm’s quarterly revenue was down 90.0% compared to the same quarter last year. equities analysts anticipate that Mack Cali Realty Corp will post 1.86 earnings per share for the current fiscal year.
A number of equities research analysts have issued reports on the company. Deutsche Bank upped their target price on Mack Cali Realty from $21.00 to $22.00 and gave the stock a “hold” rating in a research report on Wednesday, August 29th. Stifel Nicolaus reaffirmed 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 raised Mack Cali Realty from a “sell” rating to a “hold” rating in a research report on Wednesday, August 15th. Zacks Investment Research cut Mack Cali Realty from a “hold” rating to a “sell” rating in a research report on Monday, July 9th. Finally, Citigroup upped their price target on Mack Cali Realty from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, June 28th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $22.80.
In other news, CEO Michael J. Demarco bought 68,301 shares of the business’s stock in a transaction that occurred on Tuesday, June 12th. The stock was acquired at an average cost of $20.12 per share, for a total transaction of $1,374,216.12. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Nathan Gantcher bought 25,000 shares of the business’s stock in a transaction that occurred on Thursday, June 21st. The stock was purchased at an average price of $20.60 per share, with a total value of $515,000.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 118,301 shares of company stock valued at $2,382,216. Corporate insiders own 6.83% of the company’s stock.
About Mack Cali Realty
Mack-Cali Realty Corporation is fully-integrated and self-managed company, Mack-Cali has provided world-class management, leasing, and development services throughout New Jersey and the surrounding region for two decades. By regularly investing in its properties and innovative lifestyle amenity packages, Mack-Cali creates environments that empower tenants and residents to reimagine the way they work and live.
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