Mack-Cali Realty Corporation (CLI) to Issue Quarterly Dividend of $0.20 on January 12th
Mack-Cali Realty Corporation (NYSE:CLI) declared a quarterly dividend on Tuesday, December 12th, RTT News reports. Shareholders of record on Wednesday, January 3rd will be given a dividend of 0.20 per share by the real estate investment trust on Friday, January 12th. This represents a $0.80 annualized dividend and a yield of 3.67%. The ex-dividend date is Tuesday, January 2nd.
Mack-Cali Realty has decreased its dividend by an average of 26.3% per year over the last three years. Mack-Cali Realty has a payout ratio of 35.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Mack-Cali Realty to earn $2.15 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 37.2%.
Mack-Cali Realty (CLI) opened at $21.79 on Thursday. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.20 and a quick ratio of 1.20. Mack-Cali Realty has a 52-week low of $21.18 and a 52-week high of $29.70. The company has a market capitalization of $1,943.04, a PE ratio of 94.74, a price-to-earnings-growth ratio of 2.83 and a beta of 1.19.
CLI has been the topic of a number of analyst reports. Stifel Nicolaus lowered Mack-Cali Realty from a “buy” rating to a “sell” rating in a research report on Wednesday, November 8th. Zacks Investment Research raised Mack-Cali Realty from a “sell” rating to a “hold” rating in a research report on Monday, November 13th. ValuEngine lowered Mack-Cali Realty from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. SunTrust Banks raised Mack-Cali Realty from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a research report on Tuesday, September 5th. They noted that the move was a valuation call. Finally, Citigroup dropped their target price on Mack-Cali Realty from $27.50 to $26.00 and set a “neutral” rating on the stock 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 three have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $28.00.
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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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