Laurion Capital Management LP bought a new position in shares of Mack Cali Realty Corp (NYSE:CLI) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 15,200 shares of the real estate investment trust’s stock, valued at approximately $308,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. State of Alaska Department of Revenue raised its stake in Mack Cali Realty by 89.9% in the second quarter. State of Alaska Department of Revenue now owns 7,424 shares of the real estate investment trust’s stock valued at $150,000 after purchasing an additional 3,514 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Mack Cali Realty by 32.7% during the first quarter. Envestnet Asset Management Inc. now owns 15,668 shares of the real estate investment trust’s stock worth $262,000 after purchasing an additional 3,860 shares during the last quarter. Koch Industries Inc. bought a new stake in shares of Mack Cali Realty during the first quarter worth about $272,000. Northwestern Mutual Investment Management Company LLC grew its holdings in shares of Mack Cali Realty by 56.7% during the first quarter. Northwestern Mutual Investment Management Company LLC now owns 18,444 shares of the real estate investment trust’s stock worth $308,000 after purchasing an additional 6,677 shares during the last quarter. Finally, Xact Kapitalforvaltning AB bought a new stake in shares of Mack Cali Realty during the first quarter worth about $313,000. 98.95% of the stock is owned by institutional investors.
CLI has been the topic of several research reports. Citigroup boosted their price target on Mack Cali Realty from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, June 28th. Deutsche Bank boosted their price target on Mack Cali Realty from $21.00 to $22.00 and gave the stock a “hold” rating in a report on Wednesday, August 29th. ValuEngine cut Mack Cali Realty from a “hold” rating to a “sell” rating in a report on Wednesday, October 3rd. Stifel Nicolaus reiterated a “hold” rating and issued a $23.00 target price (up from $21.00) on shares of Mack Cali Realty in a report on Thursday, August 16th. Finally, Zacks Investment Research cut Mack Cali Realty from a “hold” rating to a “sell” rating in a report on Monday, July 9th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $22.40.
CLI traded up $0.39 during trading on Friday, hitting $19.89. The company’s stock had a trading volume of 926,273 shares, compared to its average volume of 606,394. Mack Cali Realty Corp has a twelve month low of $15.86 and a twelve month high of $23.91. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.83 and a current ratio of 0.83. The firm has a market cap of $1.92 billion, a PE ratio of 8.92 and a beta of 1.19.
Mack Cali Realty (NYSE:CLI) last issued its earnings results on Wednesday, August 1st. The real estate investment trust reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.49). Mack Cali Realty had a return on equity of 4.70% and a net margin of 13.89%. The firm had revenue of $126.58 million for the quarter, compared to analyst estimates of $133.28 million. During the same period in the previous year, the company earned $0.60 earnings per share. Mack Cali Realty’s revenue for the quarter was down 90.0% compared to the same quarter last year. Research analysts predict that Mack Cali Realty Corp will post 1.86 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, October 12th. Investors of record on Tuesday, October 2nd were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date of this dividend was Monday, October 1st. Mack Cali Realty’s payout ratio is currently 35.87%.
In related news, EVP Robert Andrew Marshall sold 1,426 shares of the stock in a transaction on Monday, September 10th. The stock was sold at an average price of $21.28, for a total value of $30,345.28. Following the completion of the sale, the executive vice president now directly owns 1,426 shares of the company’s stock, valued at approximately $30,345.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 6.83% of the company’s stock.
About Mack Cali Realty
Mack-Cali Realty Corporation is fully-integrated and self-managed company, Mack-Cali has provided world-class management, leasing, and development services throughout New Jersey and the surrounding region for two decades. By regularly investing in its properties and innovative lifestyle amenity packages, Mack-Cali creates environments that empower tenants and residents to reimagine the way they work and live.
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