Mack Cali Realty (CLI) Announces Quarterly Earnings Results

Mack Cali Realty (NYSE:CLI) posted its quarterly earnings data on Wednesday. The real estate investment trust reported $0.45 EPS for the quarter, hitting the consensus estimate of $0.45, Bloomberg Earnings reports. The company had revenue of $132.94 million during the quarter, compared to analyst estimates of $133.43 million. Mack Cali Realty had a net margin of 6.81% and a return on equity of 2.19%. Mack Cali Realty’s quarterly revenue was down 7.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.50 earnings per share. Mack Cali Realty updated its FY 2019 guidance to $1.60-1.70 EPS and its FY19 guidance to $1.60-1.70 EPS.

Shares of NYSE:CLI traded up $0.26 on Wednesday, hitting $21.37. 422,580 shares of the company’s stock were exchanged, compared to its average volume of 444,108. Mack Cali Realty has a 12 month low of $15.86 and a 12 month high of $22.26. The company has a market cap of $1.90 billion, a price-to-earnings ratio of 9.58 and a beta of 1.14. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 1.67.

Several research firms have commented on CLI. SunTrust Banks reaffirmed a “buy” rating on shares of Mack Cali Realty in a research note on Monday, December 3rd. ValuEngine upgraded Mack Cali Realty from a “hold” rating to a “buy” rating in a research report on Friday, February 8th. Finally, Zacks Investment Research upgraded Mack Cali Realty from a “sell” rating to a “hold” rating in a research report on Wednesday, December 5th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. Mack Cali Realty presently has a consensus rating of “Hold” and an average target price of $20.25.

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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.

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Earnings History for Mack Cali Realty (NYSE:CLI)

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