Mack-Cali Realty (CLI) Lifted to Buy at ValuEngine
ValuEngine upgraded shares of Mack-Cali Realty (NYSE:CLI) from a hold rating to a buy rating in a research note issued to investors on Friday morning.
A number of other equities research analysts have also recently weighed in on the stock. Stifel Nicolaus cut shares of Mack-Cali Realty from a buy rating to a sell rating in a research report on Wednesday, November 8th. SunTrust Banks raised shares of Mack-Cali Realty from a hold rating to a buy rating and set a $30.00 price target for the company in a research report on Tuesday, September 5th. They noted that the move was a valuation call. Zacks Investment Research raised shares of Mack-Cali Realty from a sell rating to a hold rating in a research report on Monday, November 13th. Citigroup reduced their price target on shares of Mack-Cali Realty from $27.50 to $26.00 and set a neutral rating for the company in a research report on Thursday, September 21st. Finally, Barclays reduced their price target on shares of Mack-Cali Realty from $28.00 to $24.00 and set an underweight rating for the company in a research report on Friday, August 18th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $28.43.
Mack-Cali Realty (CLI) opened at $22.25 on Friday. Mack-Cali Realty has a 12 month low of $21.18 and a 12 month high of $29.70. The company has a market cap of $2,007.78, a price-to-earnings ratio of 9.75, a P/E/G ratio of 1.82 and a beta of 1.19. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.20 and a current ratio of 1.20.
Mack-Cali Realty (NYSE:CLI) last announced its quarterly earnings results on Tuesday, November 7th. The real estate investment trust reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.01). Mack-Cali Realty had a net margin of 4.14% and a return on equity of 1.53%. The company had revenue of $160.02 million during the quarter, compared to analysts’ expectations of $156.18 million. During the same period last year, the firm earned $0.60 earnings per share. Mack-Cali Realty’s revenue was up 1.6% on a year-over-year basis. analysts expect that Mack-Cali Realty will post 2.27 EPS for the current year.
Several large investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio raised its holdings in shares of Mack-Cali Realty by 11.6% in the third quarter. Public Employees Retirement System of Ohio now owns 132,258 shares of the real estate investment trust’s stock valued at $3,136,000 after buying an additional 13,771 shares during the last quarter. Eii Capital Management Inc. purchased a new stake in shares of Mack-Cali Realty in the third quarter valued at about $708,000. California Public Employees Retirement System raised its holdings in shares of Mack-Cali Realty by 4.1% in the third quarter. California Public Employees Retirement System now owns 258,955 shares of the real estate investment trust’s stock valued at $6,140,000 after buying an additional 10,156 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Mack-Cali Realty in the third quarter valued at about $350,000. Finally, Asset Management One Co. Ltd. raised its holdings in shares of Mack-Cali Realty by 2.1% in the third quarter. Asset Management One Co. Ltd. now owns 192,240 shares of the real estate investment trust’s stock valued at $4,539,000 after buying an additional 3,872 shares during the last quarter. 99.21% of the stock is owned by institutional investors and hedge funds.
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About Mack-Cali Realty
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.
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