IndexIQ Advisors LLC trimmed its stake in shares of Mack Cali Realty Corp (NYSE:CLI) by 6.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 74,787 shares of the real estate investment trust’s stock after selling 4,982 shares during the quarter. IndexIQ Advisors LLC’s holdings in Mack Cali Realty were worth $1,517,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in CLI. Centersquare Investment Management LLC bought a new stake in shares of Mack Cali Realty during the 1st quarter worth about $96,338,000. Citadel Advisors LLC raised its position in shares of Mack Cali Realty by 395.1% during the 1st quarter. Citadel Advisors LLC now owns 1,543,507 shares of the real estate investment trust’s stock worth $25,792,000 after buying an additional 1,231,738 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Mack Cali Realty by 41.5% during the 2nd quarter. Victory Capital Management Inc. now owns 2,225,212 shares of the real estate investment trust’s stock worth $45,128,000 after buying an additional 652,511 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of Mack Cali Realty by 60.5% during the 1st quarter. Russell Investments Group Ltd. now owns 963,775 shares of the real estate investment trust’s stock worth $16,091,000 after buying an additional 363,352 shares in the last quarter. Finally, Millennium Management LLC raised its position in shares of Mack Cali Realty by 127.7% during the 1st quarter. Millennium Management LLC now owns 619,615 shares of the real estate investment trust’s stock worth $10,354,000 after buying an additional 347,461 shares in the last quarter. Institutional investors own 97.36% of the company’s stock.

A number of analysts have commented on the stock. Zacks Investment Research downgraded shares of Mack Cali Realty from a “hold” rating to a “sell” rating in a research report on Monday, July 9th. Citigroup boosted their price target on shares of Mack Cali Realty from $18.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, June 28th. Deutsche Bank boosted their price target on shares of Mack Cali Realty from $20.00 to $21.00 and gave the stock a “hold” rating in a research report on Tuesday, June 26th. Barclays restated an “average” rating on shares of Mack Cali Realty in a research report on Thursday, June 14th. Finally, TheStreet upgraded shares of Mack Cali Realty from a “d+” rating to a “c-” rating in a research report on Monday, May 14th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $24.00.

Shares of CLI opened at $19.07 on Tuesday. The company has a market capitalization of $1.73 billion, a PE ratio of 9.51 and a beta of 1.19. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.83 and a current ratio of 0.83. Mack Cali Realty Corp has a 12-month low of $15.86 and a 12-month high of $24.39.

Mack Cali Realty (NYSE:CLI) last announced its quarterly earnings data on Wednesday, August 1st. The real estate investment trust reported ($0.05) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.49). The business had revenue of $126.58 million during the quarter, compared to analyst estimates of $133.28 million. Mack Cali Realty had a return on equity of 4.70% and a net margin of 13.89%. The business’s revenue for the quarter was down 90.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.60 EPS. research analysts forecast that Mack Cali Realty Corp will post 1.79 EPS for the current fiscal year.

In other Mack Cali Realty news, Director Nathan Gantcher acquired 25,000 shares of the stock in a transaction dated Thursday, June 21st. The shares were bought at an average price of $20.60 per share, with a total value of $515,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Michael J. Demarco acquired 68,301 shares of the stock in a transaction dated Tuesday, June 12th. The stock was acquired at an average cost of $20.12 per share, for a total transaction of $1,374,216.12. The disclosure for this purchase can be found here. Insiders bought a total of 118,301 shares of company stock worth $2,382,216 in the last ninety days. Corporate insiders own 6.83% of the company’s stock.

Mack Cali Realty Profile

Mack-Cali Realty Corporation is a fully integrated, self-administered, self-managed real estate investment trust (REIT) providing management, leasing, development, and other tenant-related services for its two-platform operations of waterfront and transit-based office and luxury multi-family assets. Mack-Cali provides its tenants and residents with the most innovative communities that empower them to re-imagine the way they work and live.

Further Reading: Investing in Dividend Stocks

Want to see what other hedge funds are holding CLI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mack Cali Realty Corp (NYSE:CLI).

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

Receive News & Ratings for Mack Cali Realty Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mack Cali Realty and related companies with MarketBeat.com's FREE daily email newsletter.