Mack Cali Realty (CLI) Receives Average Rating from Barclays

Mack Cali Realty (NYSE:CLI)‘s stock had its “average” rating reaffirmed by research analysts at Barclays in a research report issued on Thursday.

Other equities analysts have also issued research reports about the company. TheStreet raised Mack Cali Realty from a “d+” rating to a “c-” rating in a research note on Monday, May 14th. Stifel Nicolaus raised Mack Cali Realty from a “sell” rating to a “hold” rating in a research note on Monday, February 26th. Zacks Investment Research raised Mack Cali Realty from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 10th. ValuEngine lowered Mack Cali Realty from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Finally, Citigroup dropped their price objective on Mack Cali Realty from $23.00 to $18.00 and set a “neutral” rating for the company in a research note on Monday, March 5th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. Mack Cali Realty currently has a consensus rating of “Hold” and an average price target of $25.20.

NYSE:CLI traded down $0.19 during mid-day trading on Thursday, hitting $19.69. 866,929 shares of the company traded hands, compared to its average volume of 665,172. Mack Cali Realty has a one year low of $15.86 and a one year high of $28.51. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.78 and a current ratio of 0.78. The firm has a market capitalization of $1.82 billion, a PE ratio of 8.83 and a beta of 1.21.

Mack Cali Realty (NYSE:CLI) last released its quarterly earnings results on Wednesday, May 2nd. The real estate investment trust reported $0.45 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by ($0.01). Mack Cali Realty had a net margin of 7.66% and a return on equity of 2.76%. The company had revenue of $138.97 million for the quarter, compared to the consensus estimate of $134.47 million. During the same period in the prior year, the firm posted $0.56 EPS. The business’s revenue for the quarter was down 7.3% on a year-over-year basis. equities analysts forecast that Mack Cali Realty will post 1.85 earnings per share for the current fiscal year.

A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in Mack Cali Realty by 1.5% during the first quarter. BlackRock Inc. now owns 12,199,991 shares of the real estate investment trust’s stock valued at $203,865,000 after buying an additional 180,544 shares during the last quarter. Bank of New York Mellon Corp raised its position in Mack Cali Realty by 38.9% during the fourth quarter. Bank of New York Mellon Corp now owns 7,706,319 shares of the real estate investment trust’s stock valued at $166,147,000 after purchasing an additional 2,158,064 shares during the period. Centersquare Investment Management LLC purchased a new stake in Mack Cali Realty during the first quarter valued at approximately $96,338,000. Renaissance Technologies LLC raised its position in Mack Cali Realty by 28.1% during the fourth quarter. Renaissance Technologies LLC now owns 2,751,800 shares of the real estate investment trust’s stock valued at $59,329,000 after purchasing an additional 603,800 shares during the period. Finally, Northern Trust Corp raised its position in Mack Cali Realty by 2.3% during the first quarter. Northern Trust Corp now owns 2,646,236 shares of the real estate investment trust’s stock valued at $44,219,000 after purchasing an additional 58,853 shares during the period. 96.85% of the stock is owned by institutional investors.

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.

Analyst Recommendations for Mack Cali Realty (NYSE:CLI)

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