Mack Cali Realty (NYSE:CLI) had its price objective lifted by investment analysts at Deutsche Bank from $21.00 to $23.00 in a research report issued to clients and investors on Wednesday, Stock Target Advisor reports. The brokerage presently has a “hold” rating on the real estate investment trust’s stock. Deutsche Bank’s price target indicates a potential upside of 2.31% from the company’s current price.

CLI has been the topic of several other research reports. Zacks Investment Research raised Mack Cali Realty from a “sell” rating to a “hold” rating in a research note on Monday, April 1st. BTIG Research raised Mack Cali Realty from a “neutral” rating to a “buy” rating and set a $26.00 price target on the stock in a research note on Tuesday, March 19th. ValuEngine raised Mack Cali Realty from a “hold” rating to a “buy” rating in a research note on Friday, February 8th. Finally, SunTrust Banks lowered Mack Cali Realty from a “buy” rating to a “hold” rating in a research note on Tuesday, January 15th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $21.60.

Shares of CLI opened at $22.48 on Wednesday. Mack Cali Realty has a twelve month low of $16.42 and a twelve month high of $22.58. The company has a market capitalization of $1.99 billion, a price-to-earnings ratio of 12.28 and a beta of 1.11. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.88 and a current ratio of 0.88.

Mack Cali Realty (NYSE:CLI) last announced its quarterly earnings data on Wednesday, February 20th. The real estate investment trust reported $0.45 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.45. Mack Cali Realty had a return on equity of 4.62% and a net margin of 14.71%. The company had revenue of $132.94 million for the quarter, compared to analyst estimates of $133.43 million. During the same quarter in the previous year, the company earned $0.50 EPS. The firm’s revenue for the quarter was down 7.4% compared to the same quarter last year. Analysts expect that Mack Cali Realty will post 1.64 EPS for the current year.

Several large investors have recently made changes to their positions in the company. Great West Life Assurance Co. Can raised its position in shares of Mack Cali Realty by 2.7% during the 3rd quarter. Great West Life Assurance Co. Can now owns 103,579 shares of the real estate investment trust’s stock worth $2,201,000 after purchasing an additional 2,698 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Mack Cali Realty by 0.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,420,217 shares of the real estate investment trust’s stock worth $30,190,000 after purchasing an additional 7,968 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of Mack Cali Realty by 20.0% during the 3rd quarter. Pacer Advisors Inc. now owns 32,690 shares of the real estate investment trust’s stock worth $695,000 after purchasing an additional 5,459 shares during the last quarter. Land & Buildings Investment Management LLC raised its position in shares of Mack Cali Realty by 19.8% during the 3rd quarter. Land & Buildings Investment Management LLC now owns 2,003,780 shares of the real estate investment trust’s stock worth $42,600,000 after purchasing an additional 331,263 shares during the last quarter. Finally, Putnam Investments LLC acquired a new position in shares of Mack Cali Realty during the 3rd quarter worth approximately $1,188,000. 98.33% of the stock is currently owned by institutional investors and hedge funds.

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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