Convergence Investment Partners LLC Trims Stake in Mack Cali Realty Corp (CLI)

Convergence Investment Partners LLC trimmed its position in Mack Cali Realty Corp (NYSE:CLI) by 71.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,980 shares of the real estate investment trust’s stock after selling 37,292 shares during the quarter. Convergence Investment Partners LLC’s holdings in Mack Cali Realty were worth $323,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of CLI. PNC Financial Services Group Inc. increased its holdings in shares of Mack Cali Realty by 5.2% in the second quarter. PNC Financial Services Group Inc. now owns 4,039 shares of the real estate investment trust’s stock worth $109,000 after purchasing an additional 200 shares during the last quarter. Riverhead Capital Management LLC increased its holdings in shares of Mack Cali Realty by 107.3% in the second quarter. Riverhead Capital Management LLC now owns 4,353 shares of the real estate investment trust’s stock worth $118,000 after purchasing an additional 2,253 shares during the last quarter. Schroder Investment Management Group bought a new stake in shares of Mack Cali Realty in the third quarter worth about $260,000. Tudor Investment Corp ET AL bought a new stake in shares of Mack Cali Realty in the second quarter worth about $272,000. Finally, GSA Capital Partners LLP bought a new stake in shares of Mack Cali Realty in the second quarter worth about $320,000. 99.16% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts have recently issued reports on CLI shares. Stifel Nicolaus cut Mack Cali Realty from a “buy” rating to a “sell” rating in a report on Wednesday, November 8th. Zacks Investment Research raised Mack Cali Realty from a “sell” rating to a “hold” rating in a report on Monday, November 13th. Finally, ValuEngine raised Mack Cali Realty from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Four equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. Mack Cali Realty currently has an average rating of “Hold” and a consensus price target of $28.00.

Mack Cali Realty Corp (CLI) opened at $21.09 on Friday. The company has a market capitalization of $1,873.81, a PE ratio of 9.10, a P/E/G ratio of 2.93 and a beta of 1.19. Mack Cali Realty Corp has a 12-month low of $20.61 and a 12-month high of $29.70. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.20 and a quick ratio of 1.20.

Mack Cali Realty (NYSE:CLI) last released its quarterly earnings results on Tuesday, November 7th. The real estate investment trust reported $0.57 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by ($0.01). The company had revenue of $160.02 million during the quarter, compared to analysts’ expectations of $156.18 million. Mack Cali Realty had a return on equity of 1.53% and a net margin of 4.14%. The company’s revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.60 EPS. analysts expect that Mack Cali Realty Corp will post 2.26 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, January 12th. Investors of record on Wednesday, January 3rd were given a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, January 2nd. This represents a $0.80 annualized dividend and a yield of 3.79%. Mack Cali Realty’s dividend payout ratio is currently 347.84%.

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Mack Cali Realty Profile

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.

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

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