Stifel Nicolaus Reaffirms “Buy” Rating for Mack-Cali Realty Corporation (CLI)

Mack-Cali Realty Corporation (NYSE:CLI)‘s stock had its “buy” rating reissued by equities research analysts at Stifel Nicolaus in a research note issued to investors on Thursday. They currently have a $30.00 price objective on the real estate investment trust’s stock. Stifel Nicolaus’ price objective points to a potential upside of 28.53% from the stock’s current price.

Several other equities research analysts also recently issued reports on CLI. 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 report on Thursday, May 25th. BidaskClub upgraded Mack-Cali Realty Corporation from a “sell” rating to a “hold” rating in a report on Saturday, June 17th. Barclays PLC cut their price objective on Mack-Cali Realty Corporation from $29.00 to $28.00 and set an “underweight” rating on the stock in a report on Tuesday, July 18th. Evercore ISI restated an “outperform” rating and set a $29.00 price target (down previously from $33.00) on shares of Mack-Cali Realty Corporation in a report on Wednesday, August 9th. Finally, ValuEngine downgraded Mack-Cali Realty Corporation from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Three research analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $28.75.

Mack-Cali Realty Corporation (NYSE:CLI) last posted its quarterly earnings data 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 firm had revenue of $162.77 million during the quarter, compared to analysts’ expectations of $150.94 million. Mack-Cali Realty Corporation had a negative net margin of 3.31% and a negative return on equity of 1.21%. During the same quarter in the prior year, the firm posted $0.55 EPS.

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A number of institutional investors have recently bought and sold shares of the business. First Mercantile Trust Co. lifted its position in Mack-Cali Realty Corporation by 1.5% during the 2nd quarter. First Mercantile Trust Co. now owns 4,640 shares of the real estate investment trust’s stock worth $126,000 after acquiring an additional 70 shares during the period. Teachers Retirement System of The State of Kentucky lifted its position in Mack-Cali Realty Corporation by 0.6% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 16,080 shares of the real estate investment trust’s stock worth $436,000 after acquiring an additional 100 shares during the period. Liberty Mutual Group Asset Management Inc. lifted its position in Mack-Cali Realty Corporation by 0.3% during the 1st quarter. Liberty Mutual Group Asset Management Inc. now owns 40,858 shares of the real estate investment trust’s stock worth $1,101,000 after acquiring an additional 136 shares during the period. PNC Financial Services Group Inc. lifted its position in Mack-Cali Realty Corporation by 5.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,839 shares of the real estate investment trust’s stock worth $103,000 after acquiring an additional 182 shares during the period. Finally, Elkfork Partners LLC lifted its position in Mack-Cali Realty Corporation by 8.0% during the 1st quarter. Elkfork Partners LLC now owns 4,158 shares of the real estate investment trust’s stock worth $112,000 after acquiring an additional 308 shares during the period. 99.23% of the stock is owned by institutional investors.

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.

Analyst Recommendations for Mack-Cali Realty Corporation (NYSE:CLI)

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