Vanguard Group Inc. trimmed its holdings in shares of Mack-Cali Realty Corporation (NYSE:CLI) by 2.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,474,778 shares of the real estate investment trust’s stock after selling 331,056 shares during the period. Vanguard Group Inc. owned approximately 14.99% of Mack-Cali Realty Corporation worth $365,706,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in CLI. First Trust Advisors LP lifted its stake in Mack-Cali Realty Corporation by 8.5% during the 1st quarter. First Trust Advisors LP now owns 85,342 shares of the real estate investment trust’s stock valued at $2,299,000 after acquiring an additional 6,714 shares during the period. Comerica Bank lifted its stake in shares of Mack-Cali Realty Corporation by 4.7% in the 1st quarter. Comerica Bank now owns 68,862 shares of the real estate investment trust’s stock valued at $1,883,000 after purchasing an additional 3,116 shares during the period. UBS Asset Management Americas Inc. lifted its stake in shares of Mack-Cali Realty Corporation by 17.2% in the 1st quarter. UBS Asset Management Americas Inc. now owns 198,325 shares of the real estate investment trust’s stock valued at $5,343,000 after purchasing an additional 29,132 shares during the period. Karp Capital Management Corp acquired a new position in shares of Mack-Cali Realty Corporation in the 1st quarter valued at $824,000. Finally, SG Americas Securities LLC lifted its stake in shares of Mack-Cali Realty Corporation by 163.3% in the 1st quarter. SG Americas Securities LLC now owns 23,744 shares of the real estate investment trust’s stock valued at $640,000 after purchasing an additional 14,726 shares during the period. Institutional investors and hedge funds own 99.31% of the company’s stock.
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Shares of Mack-Cali Realty Corporation (NYSE:CLI) opened at 23.40 on Tuesday. Mack-Cali Realty Corporation has a one year low of $22.70 and a one year high of $29.70. The stock’s market cap is $2.10 billion. The company has a 50 day moving average of $23.46 and a 200-day moving average of $25.86.
Mack-Cali Realty Corporation (NYSE:CLI) last issued its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $0.60 EPS for the quarter, missing the Zacks’ 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 net margin of 3.31% and a negative return on equity of 1.21%. During the same period in the prior year, the company posted $0.55 EPS. On average, analysts anticipate that Mack-Cali Realty Corporation will post ($0.11) earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, October 13th. Shareholders of record on Tuesday, October 3rd were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date of this dividend was Monday, October 2nd. Mack-Cali Realty Corporation’s dividend payout ratio (DPR) is currently -307.69%.
Several research firms recently issued reports on CLI. Barclays PLC decreased their target price on shares of Mack-Cali Realty Corporation from $28.00 to $24.00 and set an “underweight” rating for the company in a research note on Friday, August 18th. Zacks Investment Research lowered shares of Mack-Cali Realty Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, September 12th. ValuEngine raised shares of Mack-Cali Realty Corporation from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Stifel Nicolaus reaffirmed a “buy” rating and set a $30.00 target price on shares of Mack-Cali Realty Corporation in a report on Thursday, September 21st. Finally, SunTrust Banks, Inc. raised shares of Mack-Cali Realty Corporation from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a report on Tuesday, September 5th. They noted that the move was a valuation call. Three research analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $28.43.
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.
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