Deutsche Bank AG Boosts Mack-Cali Realty Corporation (CLI) Price Target to $29.00
Mack-Cali Realty Corporation (NYSE:CLI) had its price target hoisted by analysts at Deutsche Bank AG from $28.00 to $29.00 in a research report issued to clients and investors on Thursday, May 25th. The firm currently has a “hold” rating on the real estate investment trust’s stock. Deutsche Bank AG’s price objective points to a potential upside of 3.94% from the stock’s previous close.
Separately, Zacks Investment Research lowered shares of Mack-Cali Realty Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, March 14th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. Mack-Cali Realty Corporation currently has an average rating of “Hold” and a consensus price target of $30.00.
Shares of Mack-Cali Realty Corporation (NYSE:CLI) traded down 0.61% on Thursday, hitting $27.90. The stock had a trading volume of 199,036 shares. The company has a market capitalization of $2.50 billion, a PE ratio of 38.64 and a beta of 1.19. Mack-Cali Realty Corporation has a 1-year low of $24.59 and a 1-year high of $29.70. The firm has a 50-day moving average of $27.25 and a 200 day moving average of $27.83.
Mack-Cali Realty Corporation (NYSE:CLI) last released its earnings results on Tuesday, May 9th. The real estate investment trust reported $0.56 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by $0.01. The firm had revenue of $149.90 million during the quarter, compared to the consensus estimate of $151.22 million. Mack-Cali Realty Corporation had a return on equity of 3.77% and a net margin of 10.66%. Mack-Cali Realty Corporation’s revenue was down 2.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.69 EPS. On average, equities analysts anticipate that Mack-Cali Realty Corporation will post $0.23 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 14th. Shareholders of record on Thursday, July 6th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.87%. The ex-dividend date is Monday, July 3rd. This is an increase from Mack-Cali Realty Corporation’s previous quarterly dividend of $0.15. Mack-Cali Realty Corporation’s payout ratio is currently 83.33%.
ILLEGAL ACTIVITY WARNING: “Deutsche Bank AG Boosts Mack-Cali Realty Corporation (CLI) Price Target to $29.00” was first published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this story on another publication, it was copied illegally and reposted in violation of U.S. & international trademark and copyright laws. The legal version of this story can be viewed at https://www.thecerbatgem.com/2017/06/21/deutsche-bank-ag-boosts-mack-cali-realty-corp-cli-price-target-to-29-00-updated-updated-updated.html.
A number of hedge funds have recently added to or reduced their stakes in CLI. Vanguard Group Inc. increased its stake in Mack-Cali Realty Corporation by 1.3% in the first quarter. Vanguard Group Inc. now owns 13,805,834 shares of the real estate investment trust’s stock valued at $371,929,000 after buying an additional 177,604 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Mack-Cali Realty Corporation by 6,678.9% in the first quarter. BlackRock Inc. now owns 11,568,140 shares of the real estate investment trust’s stock valued at $311,648,000 after buying an additional 11,397,492 shares during the last quarter. LSV Asset Management boosted its stake in shares of Mack-Cali Realty Corporation by 2.4% in the first quarter. LSV Asset Management now owns 3,628,591 shares of the real estate investment trust’s stock valued at $97,754,000 after buying an additional 86,597 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Mack-Cali Realty Corporation by 60.3% in the first quarter. Bank of New York Mellon Corp now owns 3,185,577 shares of the real estate investment trust’s stock valued at $85,820,000 after buying an additional 1,198,902 shares during the last quarter. Finally, Frontier Capital Management Co. LLC boosted its stake in shares of Mack-Cali Realty Corporation by 3.0% in the first quarter. Frontier Capital Management Co. LLC now owns 2,163,551 shares of the real estate investment trust’s stock valued at $58,286,000 after buying an additional 62,284 shares during the last quarter.
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.
Receive News & Stock Ratings for Mack-Cali Realty Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mack-Cali Realty Corporation and related stocks with our FREE daily email newsletter.