Stifel Nicolaus reaffirmed their hold rating on shares of Mack Cali Realty (NYSE:CLI) in a research note released on Thursday, MarketBeat.com reports. Stifel Nicolaus currently has a $23.00 price objective on the real estate investment trust’s stock, up from their previous price objective of $21.00.

Several other research firms have also issued reports on CLI. Barclays reiterated an average rating on shares of Mack Cali Realty in a research report on Thursday, June 14th. Citigroup increased their price target on shares of Mack Cali Realty from $18.00 to $20.00 and gave the stock a neutral rating in a research report on Thursday, June 28th. Zacks Investment Research upgraded shares of Mack Cali Realty from a strong sell rating to a hold rating in a research report on Thursday, May 10th. TheStreet upgraded shares of Mack Cali Realty from a d+ rating to a c- rating in a research report on Monday, May 14th. Finally, ValuEngine upgraded shares of Mack Cali Realty from a sell rating to a hold rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $22.60.

Shares of NYSE CLI traded up $0.01 during trading hours on Thursday, hitting $21.71. 30,104 shares of the stock were exchanged, compared to its average volume of 629,068. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 1.58. The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of 9.73 and a beta of 1.19. Mack Cali Realty has a 1-year low of $15.86 and a 1-year high of $24.04.

Mack Cali Realty (NYSE:CLI) last posted its quarterly earnings results on Wednesday, August 1st. The real estate investment trust reported ($0.05) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.49). The firm had revenue of $126.58 million for the quarter, compared to analyst estimates of $133.28 million. Mack Cali Realty had a return on equity of 4.70% and a net margin of 13.89%. The business’s revenue was down 90.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.60 EPS. equities research analysts forecast that Mack Cali Realty will post 1.79 earnings per share for the current year.

In related news, Director Nathan Gantcher bought 25,000 shares of the business’s stock in a transaction on Thursday, June 21st. The shares were purchased at an average price of $20.60 per share, for a total transaction of $515,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael J. Demarco bought 68,301 shares of the business’s stock in a transaction on Tuesday, June 12th. The stock was bought at an average price of $20.12 per share, for a total transaction of $1,374,216.12. The disclosure for this purchase can be found here. Insiders acquired 118,301 shares of company stock worth $2,382,216 in the last 90 days. Company insiders own 6.83% of the company’s stock.

Institutional investors have recently modified their holdings of the business. Schwab Charles Investment Management Inc. boosted its position in Mack Cali Realty by 7.9% in the first quarter. Schwab Charles Investment Management Inc. now owns 1,322,178 shares of the real estate investment trust’s stock valued at $22,094,000 after buying an additional 97,159 shares in the last quarter. Legal & General Group Plc boosted its position in Mack Cali Realty by 6.2% in the first quarter. Legal & General Group Plc now owns 386,694 shares of the real estate investment trust’s stock valued at $6,462,000 after buying an additional 22,739 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Mack Cali Realty by 127.7% during the first quarter. Millennium Management LLC now owns 619,615 shares of the real estate investment trust’s stock worth $10,354,000 after purchasing an additional 347,461 shares during the period. Great West Life Assurance Co. Can lifted its holdings in shares of Mack Cali Realty by 6.2% during the first quarter. Great West Life Assurance Co. Can now owns 106,323 shares of the real estate investment trust’s stock worth $1,778,000 after purchasing an additional 6,217 shares during the period. Finally, Wells Fargo & Company MN lifted its holdings in shares of Mack Cali Realty by 7.3% during the first quarter. Wells Fargo & Company MN now owns 164,495 shares of the real estate investment trust’s stock worth $2,749,000 after purchasing an additional 11,159 shares during the period. Hedge funds and other institutional investors own 97.36% of the company’s stock.

Mack Cali Realty Company Profile

Mack-Cali Realty Corporation is a fully integrated, self-administered, self-managed real estate investment trust (REIT) providing management, leasing, development, and other tenant-related services for its two-platform operations of waterfront and transit-based office and luxury multi-family assets. Mack-Cali provides its tenants and residents with the most innovative communities that empower them to re-imagine the way they work and live.

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Analyst Recommendations for Mack Cali Realty (NYSE:CLI)

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