Mack-Cali Realty Corporation (CLI) Lowered to “Sell” at Stifel Nicolaus

Stifel Nicolaus cut shares of Mack-Cali Realty Corporation (NYSE:CLI) from a buy rating to a sell rating in a research note released on Wednesday, November 8th.

A number of other equities research analysts have also weighed in on the company. ValuEngine raised Mack-Cali Realty from a hold rating to a buy rating in a research report on Monday, October 2nd. Citigroup Inc. decreased their target price on Mack-Cali Realty from $27.50 to $26.00 and set a neutral rating for the company in a research report on Thursday, September 21st. Zacks Investment Research lowered Mack-Cali Realty from a hold rating to a sell rating in a research report on Tuesday, September 12th. SunTrust Banks, Inc. raised Mack-Cali Realty from a hold rating to a buy rating and set a $30.00 target price for the company in a research report on Tuesday, September 5th. They noted that the move was a valuation call. Finally, Barclays PLC decreased their target price on Mack-Cali Realty from $28.00 to $24.00 and set an underweight rating for the company in a research report on Friday, August 18th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $28.43.

Shares of Mack-Cali Realty (NYSE CLI) traded down $0.07 during mid-day trading on Wednesday, hitting $22.35. The company had a trading volume of 328,150 shares, compared to its average volume of 570,741. Mack-Cali Realty has a 52-week low of $21.18 and a 52-week high of $29.70. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.20 and a quick ratio of 1.20. The company has a market cap of $2,020.00, a price-to-earnings ratio of 9.79, a P/E/G ratio of 1.70 and a beta of 1.21.

Mack-Cali Realty (NYSE:CLI) last issued its quarterly earnings results on Tuesday, November 7th. The real estate investment trust reported $0.57 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.58 by ($0.01). Mack-Cali Realty had a return on equity of 1.53% and a net margin of 4.14%. The business had revenue of $160.02 million for the quarter, compared to the consensus estimate of $156.18 million. During the same period in the prior year, the business posted $0.60 earnings per share. Mack-Cali Realty’s revenue was up 1.6% on a year-over-year basis. equities research analysts anticipate that Mack-Cali Realty will post 2.27 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in CLI. Teachers Retirement System of The State of Kentucky grew its stake in Mack-Cali Realty by 0.6% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 16,080 shares of the real estate investment trust’s stock worth $436,000 after buying an additional 100 shares during the last quarter. IndexIQ Advisors LLC grew its stake in Mack-Cali Realty by 12.3% during the 2nd quarter. IndexIQ Advisors LLC now owns 98,494 shares of the real estate investment trust’s stock worth $2,673,000 after buying an additional 10,772 shares during the last quarter. Virginia Retirement Systems ET AL grew its stake in Mack-Cali Realty by 10.2% during the 2nd quarter. Virginia Retirement Systems ET AL now owns 111,100 shares of the real estate investment trust’s stock worth $3,015,000 after buying an additional 10,300 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Mack-Cali Realty during the 2nd quarter worth $623,000. Finally, Voya Investment Management LLC grew its stake in Mack-Cali Realty by 8.8% during the 2nd quarter. Voya Investment Management LLC now owns 72,826 shares of the real estate investment trust’s stock worth $1,976,000 after buying an additional 5,873 shares during the last quarter. 97.82% of the stock is owned by hedge funds and other institutional investors.

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About Mack-Cali Realty

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.

Analyst Recommendations for Mack-Cali Realty (NYSE:CLI)

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