Mack Cali Realty’s (CLI) “Buy” Rating Reaffirmed at SunTrust Banks

SunTrust Banks reiterated their buy rating on shares of Mack Cali Realty (NYSE:CLI) in a research report report published on Monday. SunTrust Banks also issued estimates for Mack Cali Realty’s FY2019 earnings at $1.87 EPS, FY2020 earnings at $1.74 EPS, FY2021 earnings at $1.76 EPS and FY2022 earnings at $1.94 EPS.

Other equities research analysts have also recently issued research reports about the company. JPMorgan Chase & Co. cut Mack Cali Realty from an overweight rating to a neutral rating in a report on Friday, October 5th. Stifel Nicolaus reiterated a hold rating and set a $23.00 target price (up previously from $21.00) on shares of Mack Cali Realty in a report on Thursday, August 16th. ValuEngine upgraded Mack Cali Realty from a sell rating to a hold rating in a report on Wednesday, August 15th. Zacks Investment Research cut Mack Cali Realty from a hold rating to a sell rating in a report on Tuesday, October 16th. Finally, Deutsche Bank increased their target price on Mack Cali Realty from $21.00 to $22.00 and gave the company a hold rating in a report on Wednesday, August 29th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. Mack Cali Realty presently has a consensus rating of Hold and an average price target of $21.80.

Shares of NYSE:CLI opened at $22.17 on Monday. The firm has a market cap of $1.96 billion, a price-to-earnings ratio of 11.52 and a beta of 1.20. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.71 and a current ratio of 0.71. Mack Cali Realty has a one year low of $15.86 and a one year high of $22.51.

In other news, EVP Robert Andrew Marshall sold 1,426 shares of the firm’s stock in a transaction on Monday, September 10th. The stock was sold at an average price of $21.28, for a total transaction of $30,345.28. Following the sale, the executive vice president now owns 1,426 shares in the company, valued at $30,345.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 6.83% of the stock is owned by company insiders.

Hedge funds have recently bought and sold shares of the company. First Hawaiian Bank acquired a new stake in shares of Mack Cali Realty during the third quarter worth $123,000. Point72 Hong Kong Ltd boosted its holdings in shares of Mack Cali Realty by 729.3% during the second quarter. Point72 Hong Kong Ltd now owns 8,973 shares of the real estate investment trust’s stock worth $182,000 after purchasing an additional 7,891 shares during the last quarter. Engineers Gate Manager LP acquired a new stake in shares of Mack Cali Realty during the third quarter worth $210,000. Levin Capital Strategies L.P. acquired a new position in Mack Cali Realty in the third quarter valued at $287,000. Finally, Verition Fund Management LLC acquired a new position in Mack Cali Realty in the second quarter valued at $284,000. Institutional investors and hedge funds own 98.69% of the company’s stock.

Mack Cali Realty Company Profile

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.

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Analyst Recommendations for Mack Cali Realty (NYSE:CLI)

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