Mack-Cali Realty Corporation (NYSE:CLI) declared a quarterly dividend on Thursday, September 14th, RTT News reports. Shareholders of record on Tuesday, October 3rd will be given a dividend of 0.20 per share by the real estate investment trust on Friday, October 13th. This represents a $0.80 annualized dividend and a yield of 3.41%.

Mack-Cali Realty Corporation has decreased its dividend by an average of 26.3% annually over the last three years. Mack-Cali Realty Corporation has a dividend payout ratio of 35.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Mack-Cali Realty Corporation to earn ($0.08) per share next year, which means the company may not be able to cover its $0.80 annual dividend with an expected future payout ratio of -1,000.0%.

Shares of Mack-Cali Realty Corporation (CLI) traded up 0.73% on Thursday, hitting $23.47. 457,483 shares of the company’s stock were exchanged. Mack-Cali Realty Corporation has a 12 month low of $22.70 and a 12 month high of $29.70. The firm’s market cap is $2.11 billion. The stock’s 50 day moving average is $24.25 and its 200 day moving average is $26.54.

Mack-Cali Realty Corporation (NYSE:CLI) last announced its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $0.60 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.01). The company had revenue of $162.77 million during the quarter, compared to the consensus estimate of $150.94 million. Mack-Cali Realty Corporation had a negative return on equity of 1.21% and a negative net margin of 3.31%. During the same period in the prior year, the firm posted $0.55 EPS. On average, equities analysts predict that Mack-Cali Realty Corporation will post ($0.06) earnings per share for the current year.

Several analysts have commented on the stock. BidaskClub raised shares of Mack-Cali Realty Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, June 17th. Deutsche Bank AG lifted their price objective on shares of Mack-Cali Realty Corporation from $28.00 to $29.00 and gave the stock a “hold” rating in a research report on Thursday, May 25th. Barclays PLC lowered their price objective on shares of Mack-Cali Realty Corporation from $29.00 to $28.00 and set an “underweight” rating on the stock in a research report on Tuesday, July 18th. Evercore ISI reaffirmed an “outperform” rating and issued a $29.00 price objective (down previously from $33.00) on shares of Mack-Cali Realty Corporation in a research report on Wednesday, August 9th. Finally, Zacks Investment Research lowered shares of Mack-Cali Realty Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday. Three analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. Mack-Cali Realty Corporation currently has a consensus rating of “Hold” and an average price target of $29.43.

ILLEGAL ACTIVITY WARNING: This article was originally reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this article on another publication, it was illegally stolen and republished in violation of US & international copyright & trademark legislation. The original version of this article can be viewed at

Mack-Cali Realty Corporation Company Profile

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.

Dividend History for Mack-Cali Realty Corporation (NYSE:CLI)

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.