Shares of Mack-Cali Realty Corp. (NYSE:CLI) have received an average recommendation of “Hold” from the nine research firms that are currently covering the firm. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $27.79.

Several equities analysts have recently commented on the stock. Stifel Nicolaus upped their price target on shares of Mack-Cali Realty Corp. from $28.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, August 5th. Evercore ISI upgraded shares of Mack-Cali Realty Corp. from a “hold” rating to a “buy” rating in a research report on Monday, September 19th. BTIG Research assumed coverage on shares of Mack-Cali Realty Corp. in a research report on Thursday, August 25th. They set a “neutral” rating for the company. Finally, Zacks Investment Research upgraded shares of Mack-Cali Realty Corp. from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a research report on Friday, September 16th.

Shares of Mack-Cali Realty Corp. (NYSE:CLI) traded down 0.66% during trading on Wednesday, reaching $27.06. 157,705 shares of the company’s stock were exchanged. The firm has a market capitalization of $2.43 billion, a PE ratio of 34.60 and a beta of 1.13. The company’s 50-day moving average price is $26.02 and its 200 day moving average price is $26.86. Mack-Cali Realty Corp. has a 52 week low of $17.35 and a 52 week high of $29.25.

Mack-Cali Realty Corp. (NYSE:CLI) last released its quarterly earnings results on Tuesday, October 25th. The real estate investment trust reported $0.56 EPS for the quarter, topping the consensus estimate of $0.55 by $0.01. The business earned $157.52 million during the quarter, compared to analyst estimates of $157.45 million. Mack-Cali Realty Corp. had a net margin of 11.60% and a return on equity of 4.10%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. Analysts predict that Mack-Cali Realty Corp. will post $2.14 EPS for the current fiscal year.

A number of large investors have recently modified their holdings of CLI. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in shares of Mack-Cali Realty Corp. by 0.3% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 14,629 shares of the real estate investment trust’s stock worth $398,000 after buying an additional 51 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Mack-Cali Realty Corp. by 0.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,196,731 shares of the real estate investment trust’s stock worth $32,311,000 after buying an additional 10,794 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in shares of Mack-Cali Realty Corp. by 2.5% in the second quarter. Nisa Investment Advisors LLC now owns 26,350 shares of the real estate investment trust’s stock worth $711,000 after buying an additional 650 shares during the last quarter. Macquarie Group Ltd. increased its stake in shares of Mack-Cali Realty Corp. by 59.4% in the second quarter. Macquarie Group Ltd. now owns 1,670,624 shares of the real estate investment trust’s stock worth $45,107,000 after buying an additional 622,877 shares during the last quarter. Finally, Forward Management LLC increased its stake in shares of Mack-Cali Realty Corp. by 1,801.6% in the second quarter. Forward Management LLC now owns 734,000 shares of the real estate investment trust’s stock worth $19,818,000 after buying an additional 695,400 shares during the last quarter.

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About Mack-Cali Realty Corp.

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 located primarily in the Northeast. The Company’s segments include commercial and other real estate, multi-family real estate, multi-family services, and corporate & other.

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