Mack Cali Realty (CLI) Stock Rating Reaffirmed by Barclays

Barclays reiterated their sell rating on shares of Mack Cali Realty (NYSE:CLI) in a research report sent to investors on Sunday. The firm currently has a $18.00 price target on the real estate investment trust’s stock.

Several other research analysts have also weighed in on CLI. Deutsche Bank increased their price objective on shares of Mack Cali Realty from $20.00 to $21.00 and gave the stock a hold rating in a report on Tuesday, June 26th. Citigroup increased their price objective on shares of Mack Cali Realty from $18.00 to $20.00 and gave the stock a neutral rating in a report on Thursday, June 28th. Zacks Investment Research lowered shares of Mack Cali Realty from a hold rating to a sell rating in a report on Monday, July 9th. ValuEngine upgraded shares of Mack Cali Realty from a sell rating to a hold rating in a report on Wednesday, August 15th. Finally, Stifel Nicolaus reiterated a hold rating and set a $23.00 price objective (up from $21.00) on shares of Mack Cali Realty in a report on Thursday, August 16th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The company has an average rating of Hold and a consensus price target of $21.80.

NYSE:CLI opened at $20.04 on Friday. The stock has a market capitalization of $1.92 billion, a price-to-earnings ratio of 9.04 and a beta of 1.19. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.83 and a current ratio of 0.83. Mack Cali Realty has a 12-month low of $15.86 and a 12-month high of $23.72.

Mack Cali Realty (NYSE:CLI) last released its earnings results on Wednesday, August 1st. The real estate investment trust reported ($0.05) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.44 by ($0.49). The firm had revenue of $126.58 million during the quarter, compared to analysts’ expectations of $133.28 million. Mack Cali Realty had a net margin of 13.89% and a return on equity of 4.70%. Mack Cali Realty’s revenue for the quarter was down 90.0% on a year-over-year basis. During the same quarter last year, the company posted $0.60 earnings per share. Analysts forecast that Mack Cali Realty will post 1.86 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 12th. Stockholders of record on Tuesday, October 2nd were issued a dividend of $0.20 per share. The ex-dividend date was Monday, October 1st. This represents a $0.80 annualized dividend and a dividend yield of 3.99%. Mack Cali Realty’s payout ratio is currently 35.87%.

In other news, EVP Robert Andrew Marshall sold 1,426 shares of the stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $21.28, for a total transaction of $30,345.28. Following the transaction, the executive vice president now directly owns 1,426 shares in the company, valued at approximately $30,345.28. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 6.83% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Mutual of America Capital Management LLC increased its position in Mack Cali Realty by 4.4% during the 2nd quarter. Mutual of America Capital Management LLC now owns 77,253 shares of the real estate investment trust’s stock worth $1,567,000 after purchasing an additional 3,289 shares in the last quarter. State of Alaska Department of Revenue increased its position in Mack Cali Realty by 89.9% during the 2nd quarter. State of Alaska Department of Revenue now owns 7,424 shares of the real estate investment trust’s stock worth $150,000 after purchasing an additional 3,514 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its position in Mack Cali Realty by 7.5% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 55,700 shares of the real estate investment trust’s stock worth $931,000 after purchasing an additional 3,910 shares in the last quarter. First Hawaiian Bank acquired a new stake in Mack Cali Realty during the 3rd quarter worth approximately $123,000. Finally, Great West Life Assurance Co. Can increased its position in Mack Cali Realty by 6.2% during the 1st quarter. Great West Life Assurance Co. Can now owns 106,323 shares of the real estate investment trust’s stock worth $1,778,000 after purchasing an additional 6,217 shares in the last quarter. Institutional investors and hedge funds own 98.95% of the company’s stock.

Mack Cali Realty Company Profile

Mack-Cali Realty Corporation is fully-integrated and self-managed company, Mack-Cali has provided world-class management, leasing, and development services throughout New Jersey and the surrounding region for two decades. By regularly investing in its properties and innovative lifestyle amenity packages, Mack-Cali creates environments that empower tenants and residents to reimagine the way they work and live.

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Analyst Recommendations for Mack Cali Realty (NYSE:CLI)

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