Mack Cali Realty Corp Expected to Earn Q2 2019 Earnings of $0.44 Per Share (NYSE:CLI)

Mack Cali Realty Corp (NYSE:CLI) – Stock analysts at SunTrust Banks boosted their Q2 2019 earnings per share (EPS) estimates for Mack Cali Realty in a research report issued to clients and investors on Wednesday, June 12th. SunTrust Banks analyst M. Lewis now forecasts that the real estate investment trust will earn $0.44 per share for the quarter, up from their prior forecast of $0.43. SunTrust Banks also issued estimates for Mack Cali Realty’s Q3 2019 earnings at $0.40 EPS, Q4 2019 earnings at $0.40 EPS, FY2019 earnings at $1.63 EPS, Q2 2020 earnings at $0.39 EPS, Q3 2020 earnings at $0.39 EPS, Q4 2020 earnings at $0.40 EPS, FY2020 earnings at $1.58 EPS and FY2023 earnings at $1.84 EPS.

A number of other equities research analysts also recently issued reports on the stock. Zacks Investment Research upgraded shares of Mack Cali Realty from a “sell” rating to a “hold” rating and set a $19.00 price objective on the stock in a research note on Tuesday, May 28th. TheStreet upgraded shares of Mack Cali Realty from a “c” rating to a “b-” rating in a research note on Monday, May 6th. Stifel Nicolaus upgraded shares of Mack Cali Realty from a “hold” rating to a “buy” rating and set a $21.73 price objective on the stock in a research note on Tuesday, April 16th. Deutsche Bank increased their price objective on shares of Mack Cali Realty from $21.00 to $23.00 and gave the stock a “hold” rating in a research note on Wednesday, April 10th. Finally, BTIG Research upgraded shares of Mack Cali Realty from a “neutral” rating to a “buy” rating and set a $26.00 price objective on the stock in a research note on Tuesday, March 19th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. Mack Cali Realty currently has a consensus rating of “Hold” and a consensus target price of $21.29.

CLI stock opened at $24.15 on Thursday. The stock has a market capitalization of $2.11 billion, a P/E ratio of 13.50 and a beta of 1.05. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.62 and a current ratio of 0.62. Mack Cali Realty has a 52 week low of $18.74 and a 52 week high of $24.15.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Tuesday, July 2nd will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.31%. Mack Cali Realty’s payout ratio is 43.72%.

Institutional investors have recently made changes to their positions in the business. Oregon Public Employees Retirement Fund boosted its stake in shares of Mack Cali Realty by 1,859.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 698,717 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 663,050 shares in the last quarter. Marshall Wace North America L.P. boosted its stake in shares of Mack Cali Realty by 35.9% in the 1st quarter. Marshall Wace North America L.P. now owns 3,408 shares of the real estate investment trust’s stock valued at $76,000 after purchasing an additional 900 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Mack Cali Realty by 39.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,954 shares of the real estate investment trust’s stock valued at $96,000 after purchasing an additional 1,410 shares in the last quarter. Dupont Capital Management Corp acquired a new stake in shares of Mack Cali Realty in the 4th quarter valued at approximately $159,000. Finally, Janney Montgomery Scott LLC acquired a new stake in shares of Mack Cali Realty in the 1st quarter valued at approximately $210,000. Hedge funds and other institutional investors own 92.72% 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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Earnings History and Estimates for Mack Cali Realty (NYSE:CLI)

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