Shares of Mack Cali Realty Corp (NYSE:CLI) have been given a consensus recommendation of “Hold” by the nine ratings firms that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, five have given a hold recommendation and one has issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $20.25.
Several brokerages recently weighed in on CLI. SunTrust Banks reaffirmed a “buy” rating on shares of Mack Cali Realty in a research report on Monday, December 3rd. ValuEngine raised Mack Cali Realty from a “hold” rating to a “buy” rating in a research report on Friday, February 8th. Finally, Zacks Investment Research raised Mack Cali Realty from a “sell” rating to a “hold” rating in a research report on Wednesday, December 5th.
Large investors have recently added to or reduced their stakes in the business. Teachers Advisors LLC raised its position in Mack Cali Realty by 0.3% in the third quarter. Teachers Advisors LLC now owns 263,918 shares of the real estate investment trust’s stock valued at $5,611,000 after purchasing an additional 907 shares during the period. Arizona State Retirement System raised its position in Mack Cali Realty by 1.1% in the fourth quarter. Arizona State Retirement System now owns 64,826 shares of the real estate investment trust’s stock valued at $1,270,000 after purchasing an additional 701 shares during the period. Legal & General Group Plc raised its position in Mack Cali Realty by 3.6% in the third quarter. Legal & General Group Plc now owns 398,214 shares of the real estate investment trust’s stock valued at $8,465,000 after purchasing an additional 13,708 shares during the period. State of Alaska Department of Revenue raised its position in Mack Cali Realty by 1.9% in the fourth quarter. State of Alaska Department of Revenue now owns 29,518 shares of the real estate investment trust’s stock valued at $578,000 after purchasing an additional 540 shares during the period. Finally, Renaissance Technologies LLC raised its position in Mack Cali Realty by 14.3% in the third quarter. Renaissance Technologies LLC now owns 3,990,200 shares of the real estate investment trust’s stock valued at $84,832,000 after purchasing an additional 498,595 shares during the period. 97.05% of the stock is currently owned by institutional investors.
Shares of CLI stock traded down $0.20 during mid-day trading on Friday, hitting $21.26. 473,123 shares of the company’s stock were exchanged, compared to its average volume of 443,185. Mack Cali Realty has a fifty-two week low of $15.86 and a fifty-two week high of $22.26. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.65. The stock has a market capitalization of $1.94 billion, a price-to-earnings ratio of 11.62 and a beta of 1.10.
Mack Cali Realty (NYSE:CLI) last posted its quarterly earnings data on Wednesday, February 20th. The real estate investment trust reported $0.45 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.45. Mack Cali Realty had a return on equity of 4.62% and a net margin of 14.71%. The business had revenue of $132.94 million for the quarter, compared to analysts’ expectations of $133.43 million. During the same quarter last year, the firm earned $0.50 earnings per share. The business’s revenue was down 7.4% on a year-over-year basis. As a group, analysts anticipate that Mack Cali Realty will post 1.65 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 12th. Investors of record on Tuesday, April 2nd will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.76%. Mack Cali Realty’s dividend payout ratio (DPR) is currently 43.72%.
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.
Receive News & Ratings for Mack Cali Realty Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mack Cali Realty and related companies with MarketBeat.com's FREE daily email newsletter.