Mack-Cali Realty Corporation (CLI) Stock Rating Upgraded by ValuEngine
Mack-Cali Realty Corporation (NYSE:CLI) was upgraded by ValuEngine from a “hold” rating to a “buy” rating in a note issued to investors on Monday.
A number of other equities analysts also recently commented on CLI. SunTrust Banks, Inc. upgraded Mack-Cali Realty Corporation from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a research report on Tuesday, September 5th. They noted that the move was a valuation call. Stifel Nicolaus reissued a “buy” rating and set a $30.00 price objective on shares of Mack-Cali Realty Corporation in a research note on Thursday, September 21st. BidaskClub upgraded Mack-Cali Realty Corporation from a “sell” rating to a “hold” rating in a report on Saturday, June 17th. Citigroup Inc. dropped their target price on Mack-Cali Realty Corporation from $27.50 to $26.00 and set a “neutral” rating for the company in a report on Thursday, September 21st. Finally, Evercore ISI reaffirmed an “outperform” rating and issued a $29.00 target price (down from $33.00) on shares of Mack-Cali Realty Corporation in a research note on Wednesday, August 9th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. Mack-Cali Realty Corporation currently has an average rating of “Hold” and a consensus target price of $28.75.
Shares of Mack-Cali Realty Corporation (NYSE:CLI) opened at 23.63 on Monday. The stock has a 50 day moving average of $23.42 and a 200 day moving average of $26.05. Mack-Cali Realty Corporation has a 52 week low of $22.70 and a 52 week high of $29.70. The stock’s market cap is $2.12 billion.
Mack-Cali Realty Corporation (NYSE:CLI) last issued its earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.60 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by ($0.01). The company had revenue of $162.77 million for the quarter, compared to analyst estimates of $150.94 million. Mack-Cali Realty Corporation had a negative return on equity of 1.21% and a negative net margin of 3.31%. During the same quarter in the prior year, the firm earned $0.55 earnings per share. On average, analysts expect that Mack-Cali Realty Corporation will post ($0.11) earnings per share for the current year.
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A number of hedge funds have recently bought and sold shares of CLI. Pensionfund DSM Netherlands purchased a new stake in Mack-Cali Realty Corporation in the third quarter valued at $1,233,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Mack-Cali Realty Corporation in the 2nd quarter valued at $623,000. Public Employees Retirement System of Ohio lifted its stake in shares of Mack-Cali Realty Corporation by 9.8% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 118,487 shares of the real estate investment trust’s stock valued at $3,216,000 after purchasing an additional 10,577 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Mack-Cali Realty Corporation by 1.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 198,724 shares of the real estate investment trust’s stock valued at $5,394,000 after purchasing an additional 3,156 shares during the last quarter. Finally, State Street Corp lifted its stake in shares of Mack-Cali Realty Corporation by 2.6% in the 2nd quarter. State Street Corp now owns 4,237,235 shares of the real estate investment trust’s stock valued at $115,002,000 after purchasing an additional 109,044 shares during the last quarter. 99.23% of the stock is owned by institutional investors.
Mack-Cali Realty Corporation Company Profile
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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