State of Tennessee Treasury Department trimmed its stake in Mack Cali Realty Corp (NYSE:CLI) by 51.2% in the third quarter, HoldingsChannel.com reports. The firm owned 43,941 shares of the real estate investment trust’s stock after selling 46,059 shares during the period. State of Tennessee Treasury Department’s holdings in Mack Cali Realty were worth $952,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Marshall Wace North America L.P. increased its stake in shares of Mack Cali Realty by 35.9% in the 1st quarter. Marshall Wace North America L.P. now owns 3,408 shares of the real estate investment trust’s stock valued at $76,000 after buying an additional 900 shares during the period. Oregon Public Employees Retirement Fund increased its stake in shares of Mack Cali Realty by 1.4% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 36,183 shares of the real estate investment trust’s stock valued at $843,000 after buying an additional 516 shares during the period. Fox Run Management L.L.C. acquired a new stake in shares of Mack Cali Realty in the 2nd quarter valued at $257,000. State of Alaska Department of Revenue increased its stake in shares of Mack Cali Realty by 18.7% in the 2nd quarter. State of Alaska Department of Revenue now owns 35,251 shares of the real estate investment trust’s stock valued at $820,000 after buying an additional 5,549 shares during the period. Finally, Convergence Investment Partners LLC increased its stake in shares of Mack Cali Realty by 68.8% in the 2nd quarter. Convergence Investment Partners LLC now owns 51,995 shares of the real estate investment trust’s stock valued at $1,211,000 after buying an additional 21,200 shares during the period. Institutional investors and hedge funds own 92.24% of the company’s stock.

Shares of Mack Cali Realty stock opened at $21.33 on Thursday. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 1.76. Mack Cali Realty Corp has a 12 month low of $18.74 and a 12 month high of $24.88. The business has a fifty day simple moving average of $21.76 and a 200 day simple moving average of $22.43. The stock has a market cap of $1.96 billion, a PE ratio of 11.66, a price-to-earnings-growth ratio of 8.49 and a beta of 1.06.

Mack Cali Realty (NYSE:CLI) last announced its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported ($0.65) EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($1.04). Mack Cali Realty had a return on equity of 11.35% and a net margin of 39.15%. The company had revenue of $131.88 million for the quarter, compared to analyst estimates of $120.85 million. During the same period last year, the firm earned $0.43 earnings per share. The firm’s revenue for the quarter was down .2% on a year-over-year basis. Analysts expect that Mack Cali Realty Corp will post 1.59 EPS for the current fiscal year.

Several equities research analysts have recently commented on CLI shares. TheStreet cut Mack Cali Realty from a “b-” rating to a “c+” rating in a research note on Wednesday, August 28th. ValuEngine cut Mack Cali Realty from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Zacks Investment Research raised Mack Cali Realty from a “sell” rating to a “hold” rating and set a $23.00 price objective for the company in a research note on Monday, October 14th. Peel Hunt reaffirmed a “buy” rating on shares of Mack Cali Realty in a research note on Tuesday, October 22nd. Finally, Deutsche Bank lifted their price objective on Mack Cali Realty from $23.00 to $24.00 and gave the stock a “hold” rating in a research note on Thursday, October 10th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $24.55.

Mack Cali Realty Company Profile

One of the country's leading real estate investment trusts (REITs), Mack-Cali Realty Corporation is an owner, manager and developer of premier office and multifamily properties in select waterfront and transit-oriented markets throughout the Northeast. Mack-Cali is headquartered in Jersey City, New Jersey, and is the visionary behind the city's flourishing waterfront, where the company is leading development, improvement and place-making initiatives for Harborside, a master-planned destination comprised of class A office, luxury apartments, diverse retail and restaurants, and public spaces.

Featured Article: What is the CBOE Russell 2000® Volatility Index?

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.