Equities analysts expect Mack-Cali Realty Corporation (NYSE:CLI) to post earnings per share of $0.54 for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Mack-Cali Realty’s earnings. The highest EPS estimate is $0.59 and the lowest is $0.53. Mack-Cali Realty reported earnings per share of $0.17 in the same quarter last year, which would suggest a positive year-over-year growth rate of 217.6%. The company is expected to announce its next earnings results on Tuesday, February 27th.

On average, analysts expect that Mack-Cali Realty will report full-year earnings of $2.27 per share for the current year, with EPS estimates ranging from $2.26 to $2.27. For the next year, analysts forecast that the company will report earnings of $2.18 per share, with EPS estimates ranging from $1.89 to $2.35. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that follow Mack-Cali Realty.

Mack-Cali Realty (NYSE:CLI) last posted its quarterly earnings results on Tuesday, November 7th. The real estate investment trust reported $0.57 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by ($0.01). Mack-Cali Realty had a return on equity of 1.53% and a net margin of 4.14%. The business had revenue of $160.02 million during the quarter, compared to the consensus estimate of $156.18 million. During the same quarter in the previous year, the company earned $0.60 earnings per share. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year.

Several research analysts have weighed in on CLI shares. Barclays dropped their price target on Mack-Cali Realty from $28.00 to $24.00 and set an “underweight” rating for the company in a research note on Friday, August 18th. ValuEngine downgraded Mack-Cali Realty from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. SunTrust Banks upgraded Mack-Cali Realty from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research report on Tuesday, September 5th. They noted that the move was a valuation call. Zacks Investment Research downgraded Mack-Cali Realty from a “hold” rating to a “sell” rating in a research report on Tuesday, September 12th. Finally, Citigroup lowered their target price on Mack-Cali Realty from $27.50 to $26.00 and set a “neutral” rating for the company in a research report on Thursday, September 21st. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $28.43.

A number of hedge funds have recently added to or reduced their stakes in CLI. BlackRock Inc. increased its stake in shares of Mack-Cali Realty by 1.2% during the second quarter. BlackRock Inc. now owns 11,701,738 shares of the real estate investment trust’s stock valued at $317,584,000 after buying an additional 133,598 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Mack-Cali Realty by 53.4% during the third quarter. Bank of New York Mellon Corp now owns 5,548,255 shares of the real estate investment trust’s stock valued at $131,549,000 after buying an additional 1,932,241 shares during the period. State Street Corp increased its stake in shares of Mack-Cali Realty by 2.6% during the second quarter. State Street Corp now owns 4,237,235 shares of the real estate investment trust’s stock valued at $115,002,000 after buying an additional 109,044 shares during the period. LSV Asset Management increased its stake in shares of Mack-Cali Realty by 3.6% during the second quarter. LSV Asset Management now owns 3,758,691 shares of the real estate investment trust’s stock valued at $102,010,000 after buying an additional 130,100 shares during the period. Finally, Northern Trust Corp increased its stake in shares of Mack-Cali Realty by 9.2% during the second quarter. Northern Trust Corp now owns 2,644,167 shares of the real estate investment trust’s stock valued at $71,762,000 after buying an additional 222,207 shares during the period. Institutional investors and hedge funds own 99.21% of the company’s stock.

Mack-Cali Realty (CLI) traded up $0.03 during mid-day trading on Thursday, reaching $21.61. The company’s stock had a trading volume of 424,095 shares, compared to its average volume of 681,519. Mack-Cali Realty has a 1-year low of $21.18 and a 1-year high of $29.70. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 1.69. The company has a market cap of $1,943.04, a P/E ratio of 9.44, a price-to-earnings-growth ratio of 1.76 and a beta of 1.19.

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About Mack-Cali Realty

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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Earnings History and Estimates for Mack-Cali Realty (NYSE:CLI)

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