Mack Cali Realty (CLI) Reaches New 12-Month High at $22.67
Mack Cali Realty Corp (NYSE:CLI)’s share price hit a new 52-week high on Monday . The company traded as high as $22.67 and last traded at $22.50, with a volume of 3147 shares traded. The stock had previously closed at $22.54.
Several equities research analysts recently commented on CLI shares. Deutsche Bank boosted their price objective on shares of Mack Cali Realty from $21.00 to $23.00 and gave the company a “hold” rating in a research report on Wednesday, April 10th. BTIG Research raised 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 report on Tuesday, March 19th. SunTrust Banks cut shares of Mack Cali Realty from a “buy” rating to a “hold” rating in a research report on Tuesday, January 15th. ValuEngine raised shares of Mack Cali Realty from a “hold” rating to a “buy” rating in a research report on Friday, February 8th. Finally, Zacks Investment Research raised shares of Mack Cali Realty from a “sell” rating to a “hold” rating in a research report on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $21.60.
The stock has a market cap of $2.05 billion, a P/E 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.
The firm also recently declared a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Tuesday, April 2nd were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, April 1st. This represents a $0.80 annualized dividend and a yield of 3.56%. Mack Cali Realty’s dividend payout ratio (DPR) is presently 43.72%.
Large investors have recently modified their holdings of the business. Oregon Public Employees Retirement Fund lifted its position in Mack Cali Realty by 1,859.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 698,717 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 663,050 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in Mack Cali Realty by 39.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,954 shares of the real estate investment trust’s stock worth $96,000 after buying an additional 1,410 shares in the last quarter. Contravisory Investment Management Inc. bought a new stake in Mack Cali Realty during the 4th quarter worth about $136,000. Dupont Capital Management Corp bought a new stake in Mack Cali Realty during the 4th quarter worth about $159,000. Finally, First Citizens Bank & Trust Co. bought a new stake in Mack Cali Realty during the 4th quarter worth about $222,000. 98.33% of the stock is currently owned by hedge funds and other institutional investors.
Mack Cali Realty Company Profile (NYSE:CLI)
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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