Wall Street analysts expect Mack Cali Realty Corp (NYSE:CLI) to announce $0.54 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Mack Cali Realty’s earnings. The lowest EPS estimate is $0.52 and the highest is $0.59. Mack Cali Realty reported earnings of $0.56 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 3.6%. The company is expected to issue its next quarterly earnings report on Tuesday, February 27th.
On average, analysts expect that Mack Cali Realty will report full-year earnings of $2.26 per share for the current financial year, with EPS estimates ranging from $2.26 to $2.27. For the next financial year, analysts forecast that the business will post earnings of $2.11 per share, with EPS estimates ranging from $1.89 to $2.35. Zacks’ earnings per share averages are an average based on a survey of analysts that cover Mack Cali Realty.
Mack Cali Realty (NYSE:CLI) last released its quarterly earnings data on Tuesday, November 7th. The real estate investment trust reported $0.57 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by ($0.01). Mack Cali Realty had a net margin of 4.14% and a return on equity of 1.53%. The company had revenue of $160.02 million during the quarter, compared to analyst estimates of $156.18 million. During the same quarter in the prior year, the firm earned $0.60 earnings per share. Mack Cali Realty’s revenue for the quarter was up 1.6% on a year-over-year basis.
Several research firms have commented on CLI. ValuEngine upgraded shares of Mack Cali Realty from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Zacks Investment Research upgraded shares of Mack Cali Realty from a “sell” rating to a “hold” rating in a report on Monday, November 13th. Stifel Nicolaus downgraded shares of Mack Cali Realty from a “buy” rating to a “sell” rating in a report on Wednesday, November 8th. Finally, SunTrust Banks reiterated a “buy” rating and issued a $28.00 price objective on shares of Mack Cali Realty in a report on Monday, January 22nd. Four equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $27.67.
Several hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its stake in shares of Mack Cali Realty by 1.2% in the second quarter. BlackRock Inc. now owns 11,701,738 shares of the real estate investment trust’s stock valued at $317,584,000 after acquiring an additional 133,598 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Mack Cali Realty by 53.4% in the third quarter. Bank of New York Mellon Corp now owns 5,548,255 shares of the real estate investment trust’s stock valued at $131,549,000 after acquiring an additional 1,932,241 shares in the last quarter. State Street Corp grew its stake in shares of Mack Cali Realty by 2.6% in the second quarter. State Street Corp now owns 4,237,235 shares of the real estate investment trust’s stock valued at $115,002,000 after acquiring an additional 109,044 shares in the last quarter. Northern Trust Corp grew its stake in shares of Mack Cali Realty by 9.2% in the second quarter. Northern Trust Corp now owns 2,644,167 shares of the real estate investment trust’s stock valued at $71,762,000 after acquiring an additional 222,207 shares in the last quarter. Finally, Frontier Capital Management Co. LLC grew its stake in shares of Mack Cali Realty by 2.2% in the third quarter. Frontier Capital Management Co. LLC now owns 2,330,721 shares of the real estate investment trust’s stock valued at $55,261,000 after acquiring an additional 49,811 shares in the last quarter. Institutional investors and hedge funds own 99.19% of the company’s stock.
Mack Cali Realty (CLI) traded down $0.18 during trading hours on Friday, hitting $21.15. 184,585 shares of the company’s stock traded hands, compared to its average volume of 601,388. Mack Cali Realty has a 12-month low of $20.61 and a 12-month high of $29.70. The firm has a market capitalization of $1,900.00, a P/E ratio of 91.96, a P/E/G ratio of 3.00 and a beta of 1.19. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.20 and a current ratio of 1.20.
The firm also recently declared a quarterly dividend, which was paid on Friday, January 12th. Investors of record on Wednesday, January 3rd were paid a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, January 2nd. This represents a $0.80 annualized dividend and a dividend yield of 3.78%. Mack Cali Realty’s dividend payout ratio (DPR) is presently 347.83%.
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Mack Cali Realty Company Profile
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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