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.

Analyst Recommendations for Mack-Cali Realty Corporation (NYSE:CLI)

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%.

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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.

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