Mack-Cali Realty Corporation (NYSE:CLI) Stake Increased by LS Investment Advisors LLC

LS Investment Advisors LLC raised its position in Mack-Cali Realty Corporation (NYSE:CLI) by 19.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,151 shares of the real estate investment trust’s stock after buying an additional 1,187 shares during the period. LS Investment Advisors LLC’s holdings in Mack-Cali Realty Corporation were worth $194,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of CLI. Shelton Capital Management boosted its stake in Mack-Cali Realty Corporation by 17.1% in the first quarter. Shelton Capital Management now owns 17,246 shares of the real estate investment trust’s stock worth $465,000 after buying an additional 2,523 shares in the last quarter. Piedmont Investment Advisors LLC boosted its stake in Mack-Cali Realty Corporation by 131.2% in the first quarter. Piedmont Investment Advisors LLC now owns 21,806 shares of the real estate investment trust’s stock worth $587,000 after buying an additional 12,373 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in Mack-Cali Realty Corporation by 42.0% in the first quarter. Daiwa Securities Group Inc. now owns 7,100 shares of the real estate investment trust’s stock worth $191,000 after buying an additional 2,100 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Mack-Cali Realty Corporation by 1.2% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 88,275 shares of the real estate investment trust’s stock worth $2,378,000 after buying an additional 1,043 shares in the last quarter. Finally, Teachers Advisors LLC boosted its stake in Mack-Cali Realty Corporation by 27.4% in the fourth quarter. Teachers Advisors LLC now owns 201,726 shares of the real estate investment trust’s stock worth $5,854,000 after buying an additional 43,329 shares in the last quarter. Institutional investors own 98.56% of the company’s stock.

Mack-Cali Realty Corporation (NYSE CLI) opened at 23.29 on Friday. The firm’s market cap is $2.09 billion. Mack-Cali Realty Corporation has a 1-year low of $23.12 and a 1-year high of $29.70. The firm has a 50-day moving average price of $25.72 and a 200-day moving average price of $27.12.

Mack-Cali Realty Corporation (NYSE:CLI) last posted its earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by $0.01. The business had revenue of $162.77 million during the quarter, compared to the consensus estimate of $150.94 million. Mack-Cali Realty Corporation had a negative return on equity of 1.21% and a negative net margin of 3.31%. During the same period in the previous year, the business earned $0.55 earnings per share. On average, analysts expect that Mack-Cali Realty Corporation will post $0.04 earnings per share for the current fiscal year.

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A number of research firms have recently issued reports on CLI. Barclays PLC lowered their price objective on Mack-Cali Realty Corporation from $28.00 to $24.00 and set an “underweight” rating on the stock in a research report on Friday. Deutsche Bank AG boosted their price objective on Mack-Cali Realty Corporation from $28.00 to $29.00 and gave the company a “hold” rating in a research report on Thursday, May 25th. BidaskClub upgraded Mack-Cali Realty Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, June 17th. Finally, Evercore ISI reiterated an “outperform” rating and issued a $29.00 price target (down from $33.00) on shares of Mack-Cali Realty Corporation in a research report on Wednesday, August 9th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $29.33.

About Mack-Cali Realty Corporation

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.

Institutional Ownership by Quarter for Mack-Cali Realty Corporation (NYSE:CLI)

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