Equities analysts forecast that Mack Cali Realty Corp (NYSE:CLI) will report earnings of $0.54 per share for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Mack Cali Realty’s earnings. The highest EPS estimate is $0.59 and the lowest is $0.52. Mack Cali Realty reported earnings per share of $0.56 during the same quarter last year, which indicates a negative year over year growth rate of 3.6%. The company is scheduled to announce its next quarterly earnings results on Tuesday, February 27th.
According to Zacks, analysts expect that Mack Cali Realty will report full year earnings of $2.26 per share for the current year, with EPS estimates ranging from $2.26 to $2.27. For the next fiscal year, analysts forecast that the company will post earnings of $2.11 per share, with EPS estimates ranging from $1.89 to $2.35. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that cover Mack Cali Realty.
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 for the quarter, missing the Zacks’ consensus estimate of $0.58 by ($0.01). The company had revenue of $160.02 million during the quarter, compared to analysts’ expectations of $156.18 million. Mack Cali Realty had a net margin of 4.14% and a return on equity of 1.53%. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.60 earnings per share.
A number of brokerages recently weighed in on CLI. ValuEngine raised shares of Mack Cali Realty from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Stifel Nicolaus reiterated a “buy” rating and issued a $30.00 price objective on shares of Mack Cali Realty in a report on Thursday, September 21st. Citigroup cut their price objective on shares of Mack Cali Realty from $27.50 to $26.00 and set a “neutral” rating for the company in a report on Thursday, September 21st. Finally, Zacks Investment Research upgraded shares of Mack Cali Realty from a “sell” rating to a “hold” rating in a report on Monday, November 13th. Four analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $28.00.
Shares of Mack Cali Realty (NYSE CLI) traded down $0.14 during trading on Wednesday, reaching $20.74. 290,148 shares of the company were exchanged, compared to its average volume of 557,655. The stock has a market cap of $1,877.41, a price-to-earnings ratio of 90.18, a PEG ratio of 2.93 and a beta of 1.19. Mack Cali Realty has a 1 year low of $20.71 and a 1 year 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 firm also recently disclosed a quarterly dividend, which was paid on Friday, January 12th. Shareholders of record on Wednesday, January 3rd were issued a $0.20 dividend. The ex-dividend date was Tuesday, January 2nd. This represents a $0.80 dividend on an annualized basis and a yield of 3.86%. Mack Cali Realty’s payout ratio is 347.84%.
Hedge funds have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. raised its holdings in Mack Cali Realty by 5.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 4,039 shares of the real estate investment trust’s stock valued at $109,000 after acquiring an additional 200 shares during the last quarter. Riverhead Capital Management LLC increased its holdings in shares of Mack Cali Realty by 107.3% during the 2nd quarter. Riverhead Capital Management LLC now owns 4,353 shares of the real estate investment trust’s stock worth $118,000 after buying an additional 2,253 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Mack Cali Realty by 10.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,580 shares of the real estate investment trust’s stock worth $179,000 after buying an additional 628 shares during the last quarter. Tudor Investment Corp ET AL acquired a new stake in shares of Mack Cali Realty during the 2nd quarter worth approximately $272,000. Finally, Schroder Investment Management Group acquired a new stake in shares of Mack Cali Realty during the 3rd quarter worth approximately $260,000. Institutional investors own 99.16% of the company’s stock.
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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.
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