Ridgewood Investments LLC cut its stake in shares of Mack-Cali Realty Corporation (NYSE:CLI) by 1.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,337 shares of the real estate investment trust’s stock after selling 340 shares during the period. Ridgewood Investments LLC’s holdings in Mack-Cali Realty Corporation were worth $742,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. LSV Asset Management raised its position in 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 in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in Mack-Cali Realty Corporation by 1.2% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 88,275 shares of the real estate investment trust’s stock valued at $2,378,000 after buying an additional 1,043 shares in the last quarter. State Treasurer State of Michigan raised its position in Mack-Cali Realty Corporation by 1.1% in the first quarter. State Treasurer State of Michigan now owns 36,500 shares of the real estate investment trust’s stock valued at $983,000 after buying an additional 400 shares in the last quarter. Great West Life Assurance Co. Can raised its position in Mack-Cali Realty Corporation by 3.6% in the first quarter. Great West Life Assurance Co. Can now owns 95,502 shares of the real estate investment trust’s stock valued at $2,572,000 after buying an additional 3,297 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund raised its position in Mack-Cali Realty Corporation by 1.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 31,300 shares of the real estate investment trust’s stock valued at $843,000 after buying an additional 400 shares in the last quarter. 99.59% of the stock is owned by institutional investors.

Mack-Cali Realty Corporation (NYSE CLI) opened at 24.11 on Friday. The firm’s 50-day moving average price is $26.28 and its 200 day moving average price is $27.29. Mack-Cali Realty Corporation has a one year low of $23.77 and a one year high of $29.70. The company’s market capitalization is $2.17 billion.

Mack-Cali Realty Corporation (NYSE:CLI) last posted its earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by $0.01. Mack-Cali Realty Corporation had a negative return on equity of 1.21% and a negative net margin of 3.31%. The company had revenue of $162.77 million during the quarter, compared to the consensus estimate of $150.94 million. During the same period last year, the firm posted $0.55 EPS. On average, equities research analysts expect 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 was paid on Friday, July 14th. Shareholders of record on Thursday, July 6th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date was 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 -307.69%.

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Several equities analysts have recently issued reports on the company. BidaskClub raised Mack-Cali Realty Corporation from a “sell” rating to a “hold” rating in a report on Saturday, June 17th. Deutsche Bank AG upped their target price on Mack-Cali Realty Corporation from $28.00 to $29.00 and gave the company a “hold” rating in a report on Thursday, May 25th. Barclays PLC reduced their target price on Mack-Cali Realty Corporation from $29.00 to $28.00 and set an “underweight” rating for the company in a report on Tuesday, July 18th. Finally, Evercore ISI reaffirmed an “outperform” rating and issued a $29.00 target price (down from $33.00) on shares of Mack-Cali Realty Corporation in a report on Wednesday. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. Mack-Cali Realty Corporation has a consensus rating of “Hold” and a consensus price target of $30.00.

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.

Institutional Ownership by Quarter for Mack-Cali Realty Corporation (NYSE:CLI)

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