Mack-Cali Realty Corporation’s (CLI) “Buy” Rating Reaffirmed at Stifel Nicolaus

Mack-Cali Realty Corporation (NYSE:CLI)‘s stock had its “buy” rating restated by Stifel Nicolaus in a research report issued on Thursday, September 21st. They presently have a $30.00 price objective on the real estate investment trust’s stock. Stifel Nicolaus’ price target suggests a potential upside of 26.53% from the company’s previous close.

Other research analysts have also issued research reports about the company. SunTrust Banks, Inc. raised Mack-Cali Realty Corporation from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a research report on Tuesday, September 5th. They noted that the move was a valuation call. BidaskClub raised Mack-Cali Realty Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, June 17th. Deutsche Bank AG raised their price target on Mack-Cali Realty Corporation from $28.00 to $29.00 and gave the company a “hold” rating in a report on Thursday, May 25th. ValuEngine cut shares of Mack-Cali Realty Corporation from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Finally, Citigroup Inc. cut their price objective on shares of Mack-Cali Realty Corporation from $27.50 to $26.00 and set a “neutral” rating on the stock in a research report on Thursday, September 21st. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $28.75.

Shares of Mack-Cali Realty Corporation (CLI) opened at 23.71 on Thursday. The company’s market cap is $2.13 billion. Mack-Cali Realty Corporation has a 1-year low of $22.70 and a 1-year high of $29.70. The stock has a 50 day moving average of $23.85 and a 200 day moving average of $26.32.

Mack-Cali Realty Corporation (NYSE:CLI) last announced its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $0.60 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.61 by ($0.01). Mack-Cali Realty Corporation had a negative return on equity of 1.21% and a negative net margin of 3.31%. The business had revenue of $162.77 million during the quarter, compared to analysts’ expectations of $150.94 million. During the same quarter last year, the company posted $0.55 EPS. On average, equities analysts forecast that Mack-Cali Realty Corporation will post ($0.11) EPS for the current year.

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A number of large investors have recently modified their holdings of CLI. Vanguard Group Inc. lifted its stake in Mack-Cali Realty Corporation by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 13,805,834 shares of the real estate investment trust’s stock valued at $371,929,000 after acquiring an additional 177,604 shares during the period. BlackRock Inc. grew its stake in shares of Mack-Cali Realty Corporation by 1.2% in the second quarter. BlackRock Inc. now owns 11,701,738 shares of the real estate investment trust’s stock worth $317,584,000 after acquiring an additional 133,598 shares during the period. State Street Corp grew its stake in shares of Mack-Cali Realty Corporation by 2.6% in the second quarter. State Street Corp now owns 4,237,235 shares of the real estate investment trust’s stock worth $115,002,000 after acquiring an additional 109,044 shares during the period. LSV Asset Management grew its stake in shares of Mack-Cali Realty Corporation by 3.6% in the second quarter. LSV Asset Management now owns 3,758,691 shares of the real estate investment trust’s stock worth $102,010,000 after acquiring an additional 130,100 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in shares of Mack-Cali Realty Corporation by 13.5% during the second quarter. Bank of New York Mellon Corp now owns 3,616,014 shares of the real estate investment trust’s stock valued at $98,138,000 after purchasing an additional 430,437 shares during the last quarter. 99.23% of the stock is owned by institutional investors and hedge funds.

About Mack-Cali Realty Corporation

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 Corporation (NYSE:CLI)

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