Wells Fargo & Company MN Has $4.40 Million Position in Mack Cali Realty Corp (NYSE:CLI)
Wells Fargo & Company MN raised its stake in Mack Cali Realty Corp (NYSE:CLI) by 5.2% during the 2nd quarter, Holdings Channel.com reports. The firm owned 188,816 shares of the real estate investment trust’s stock after buying an additional 9,372 shares during the period. Wells Fargo & Company MN’s holdings in Mack Cali Realty were worth $4,397,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors also recently added to or reduced their stakes in the company. Long Pond Capital LP acquired a new position in shares of Mack Cali Realty in the first quarter valued at about $9,984,000. Geode Capital Management LLC lifted its position in Mack Cali Realty by 6.9% during the fourth quarter. Geode Capital Management LLC now owns 1,233,597 shares of the real estate investment trust’s stock worth $24,166,000 after purchasing an additional 79,521 shares during the period. JPMorgan Chase & Co. lifted its position in Mack Cali Realty by 8.4% during the first quarter. JPMorgan Chase & Co. now owns 941,252 shares of the real estate investment trust’s stock worth $20,896,000 after purchasing an additional 72,566 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its position in Mack Cali Realty by 80.0% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 108,059 shares of the real estate investment trust’s stock worth $2,517,000 after purchasing an additional 48,036 shares during the period. Finally, Jennison Associates LLC bought a new stake in Mack Cali Realty during the second quarter worth about $623,000. Hedge funds and other institutional investors own 92.35% of the company’s stock.
A number of research analysts have recently commented on the stock. BTIG Research reissued a “buy” rating and issued a $30.00 target price (up previously from $26.00) on shares of Mack Cali Realty in a report on Thursday, June 13th. ValuEngine cut shares of Mack Cali Realty from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Evercore ISI reissued a “hold” rating and issued a $24.00 target price on shares of Mack Cali Realty in a report on Sunday, August 11th. TheStreet cut shares of Mack Cali Realty from a “b-” rating to a “c+” rating in a report on Wednesday, August 28th. Finally, Zacks Investment Research raised shares of Mack Cali Realty from a “sell” rating to a “hold” rating and set a $19.00 target price for the company in a report on Tuesday, May 28th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. Mack Cali Realty presently has an average rating of “Hold” and a consensus price target of $22.62.
Mack Cali Realty (NYSE:CLI) last issued its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.84). The business had revenue of $130.46 million during the quarter, compared to the consensus estimate of $132.61 million. Mack Cali Realty had a net margin of 49.47% and a return on equity of 14.57%. The firm’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.45 EPS. On average, research analysts expect that Mack Cali Realty Corp will post 1.62 earnings per share for the current year.
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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