Mack-Cali Realty Corporation (NYSE:CLI) – Equities research analysts at SunTrust Banks lowered their FY2021 earnings per share (EPS) estimates for shares of Mack-Cali Realty Corporation in a report released on Thursday. SunTrust Banks analyst M. Lewis now expects that the company will post earnings of $2.70 per share for the year, down from their prior forecast of $2.84. SunTrust Banks currently has a “Buy” rating and a $30.00 target price on the stock.
Mack-Cali Realty Corporation (NYSE:CLI) last announced its quarterly earnings data on Tuesday, November 7th. The company reported C$0.57 earnings per share for the quarter, missing the Zacks’ consensus estimate of C$0.58 by C($0.01). Mack-Cali Realty Corporation had a net margin of 4.14% and a return on equity of 1.53%. The business had revenue of C$160.02 million during the quarter, compared to analysts’ expectations of C$156.18 million. During the same period in the prior year, the firm posted $0.60 EPS. Mack-Cali Realty Corporation’s revenue for the quarter was up 1.6% compared to the same quarter last year.
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A number of other equities research analysts have also weighed in on CLI. Barclays PLC lowered their price objective on Mack-Cali Realty Corporation from $28.00 to $24.00 and set an “underweight” rating on the stock in a report on Friday, August 18th. Evercore ISI reaffirmed an “outperform” rating and issued a $29.00 price objective (down previously from $33.00) on shares of Mack-Cali Realty Corporation in a report on Wednesday, August 9th. Stifel Nicolaus reissued a “buy” rating and set a $30.00 price target on shares of Mack-Cali Realty Corporation in a research note on Thursday, September 21st. ValuEngine raised Mack-Cali Realty Corporation from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Finally, Citigroup Inc. decreased their price target on Mack-Cali Realty Corporation from $27.50 to $26.00 and set a “neutral” rating on the stock in a research note on Thursday, September 21st. Four research analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. Mack-Cali Realty Corporation presently has an average rating of “Hold” and an average price target of C$28.43.
Shares of Mack-Cali Realty Corporation (NYSE CLI) traded up C$0.55 on Monday, reaching C$22.84. The company’s stock had a trading volume of 1,233,900 shares, compared to its average volume of 558,927. Mack-Cali Realty Corporation has a 12 month low of C$21.18 and a 12 month high of C$29.70. The stock has a market cap of $2,053.64, a price-to-earnings ratio of 9.97, a PEG ratio of 2.49 and a beta of 1.21. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.20 and a quick ratio of 1.20.
A number of hedge funds have recently bought and sold shares of CLI. Teachers Advisors LLC lifted its stake in Mack-Cali Realty Corporation by 5.2% in the 1st quarter. Teachers Advisors LLC now owns 212,264 shares of the company’s stock valued at $5,718,000 after buying an additional 10,538 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Mack-Cali Realty Corporation by 5.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,839 shares of the company’s stock valued at $103,000 after buying an additional 182 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Mack-Cali Realty Corporation by 3.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,253,554 shares of the company’s stock valued at $33,770,000 after buying an additional 47,060 shares in the last quarter. Bank of Montreal Can lifted its stake in Mack-Cali Realty Corporation by 300.9% in the 2nd quarter. Bank of Montreal Can now owns 111,442 shares of the company’s stock valued at $3,024,000 after buying an additional 83,645 shares in the last quarter. Finally, Gateway Investment Advisers LLC lifted its stake in Mack-Cali Realty Corporation by 34.7% in the 2nd quarter. Gateway Investment Advisers LLC now owns 150,306 shares of the company’s stock valued at $4,079,000 after buying an additional 38,758 shares in the last quarter. 99.26% of the stock is currently owned by hedge funds and other institutional investors.
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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