Shares of Mack Cali Realty Corp (NYSE:CLI) hit a new 52-week high during trading on Tuesday . The company traded as high as $23.05 and last traded at $23.00, with a volume of 13120 shares trading hands. The stock had previously closed at $22.45.

A number of analysts have commented on CLI shares. BTIG Research upgraded shares of Mack Cali Realty from a “neutral” rating to a “buy” rating and set a $26.00 price target for the company in a research note on Tuesday, March 19th. ValuEngine upgraded shares of Mack Cali Realty from a “hold” rating to a “buy” rating in a research note on Friday, February 8th. Stifel Nicolaus upgraded shares of Mack Cali Realty from a “hold” rating to a “buy” rating and set a $21.73 price target for the company in a research note on Tuesday, April 16th. SunTrust Banks cut shares of Mack Cali Realty from a “buy” rating to a “hold” rating in a research note on Tuesday, January 15th. Finally, Deutsche Bank increased their price target on shares of Mack Cali Realty from $21.00 to $23.00 and gave the company a “hold” rating in a research note on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $21.75.

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 company has a market capitalization of $2.05 billion, a PE ratio of 12.58 and a beta of 1.11.

Mack Cali Realty (NYSE:CLI) last posted its earnings results on Wednesday, February 20th. The real estate investment trust reported $0.45 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.45. The company had revenue of $132.94 million during the quarter, compared to analysts’ expectations of $133.43 million. Mack Cali Realty had a net margin of 14.71% and a return on equity of 4.62%. Mack Cali Realty’s quarterly revenue was down 7.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.50 EPS. On average, equities research analysts forecast that Mack Cali Realty Corp will post 1.65 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Tuesday, April 2nd were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date of this dividend was Monday, April 1st. Mack Cali Realty’s dividend payout ratio is presently 43.72%.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Nisa Investment Advisors LLC lifted its stake in shares of Mack Cali Realty by 102.6% during the 1st quarter. Nisa Investment Advisors LLC now owns 24,515 shares of the real estate investment trust’s stock worth $544,000 after buying an additional 12,415 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Mack Cali Realty during the 1st quarter worth about $758,000. Retirement Systems of Alabama lifted its stake in shares of Mack Cali Realty by 0.4% during the 1st quarter. Retirement Systems of Alabama now owns 117,575 shares of the real estate investment trust’s stock worth $2,610,000 after buying an additional 470 shares during the last quarter. First Manhattan Co. lifted its stake in shares of Mack Cali Realty by 2.0% during the 1st quarter. First Manhattan Co. now owns 649,399 shares of the real estate investment trust’s stock worth $14,416,000 after buying an additional 12,690 shares during the last quarter. Finally, First Citizens Bank & Trust Co. lifted its stake in shares of Mack Cali Realty by 36.6% during the 1st quarter. First Citizens Bank & Trust Co. now owns 15,513 shares of the real estate investment trust’s stock worth $344,000 after buying an additional 4,157 shares during the last quarter. Institutional investors own 98.33% of the company’s stock.

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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.

Further Reading: Ex-Dividend

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