Mack Cali Realty (NYSE:CLI) had its price target dropped by investment analysts at Barclays from $24.00 to $21.00 in a note issued to investors on Tuesday. The firm presently has an “underweight” rating on the real estate investment trust’s stock. Barclays’ price target would suggest a potential upside of 4.63% from the stock’s current price.

A number of other research analysts have also issued reports on the company. ValuEngine upgraded Mack Cali Realty from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Zacks Investment Research upgraded Mack Cali Realty from a “sell” rating to a “hold” rating in a research report on Monday, November 13th. Stifel Nicolaus lowered Mack Cali Realty from a “buy” rating to a “sell” rating in a research report on Wednesday, November 8th. Finally, SunTrust Banks set a $28.00 price objective on Mack Cali Realty and gave the company a “buy” rating in a research report on Monday, January 22nd. Four analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $27.17.

Mack Cali Realty (NYSE:CLI) opened at $20.07 on Tuesday. The company has a market capitalization of $1,800.00, a P/E ratio of 87.26, a PEG ratio of 2.91 and a beta of 1.19. 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 12-month low of $19.99 and a 12-month high of $29.70.

Mack Cali Realty (NYSE:CLI) last issued its earnings results on Tuesday, November 7th. The real estate investment trust reported $0.57 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.01). The firm had revenue of $160.02 million during the quarter, compared to analyst estimates of $156.18 million. Mack Cali Realty had a return on equity of 1.53% and a net margin of 4.14%. Mack Cali Realty’s revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.60 EPS. research analysts expect that Mack Cali Realty will post 2.26 earnings per share for the current year.

A number of large investors have recently added to or reduced their stakes in CLI. Bank of New York Mellon Corp boosted its position in Mack Cali Realty by 53.4% during the 3rd 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 purchasing an additional 1,932,241 shares during the period. Balyasny Asset Management LLC boosted its position in Mack Cali Realty by 95.5% during the 2nd quarter. Balyasny Asset Management LLC now owns 673,960 shares of the real estate investment trust’s stock valued at $18,291,000 after purchasing an additional 329,201 shares during the period. First Manhattan Co. boosted its position in Mack Cali Realty by 49.2% during the 3rd quarter. First Manhattan Co. now owns 706,564 shares of the real estate investment trust’s stock valued at $16,752,000 after purchasing an additional 232,965 shares during the period. Northern Trust Corp boosted its position in Mack Cali Realty by 9.2% during the 2nd quarter. Northern Trust Corp now owns 2,644,167 shares of the real estate investment trust’s stock valued at $71,762,000 after purchasing an additional 222,207 shares during the period. Finally, Macquarie Group Ltd. boosted its position in Mack Cali Realty by 12.8% during the 3rd quarter. Macquarie Group Ltd. now owns 1,508,404 shares of the real estate investment trust’s stock worth $35,764,000 after acquiring an additional 171,494 shares during the period. Institutional investors and hedge funds own 99.14% of the company’s stock.

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Mack Cali Realty 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.

Analyst Recommendations for Mack Cali Realty (NYSE:CLI)

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