Mack Cali Realty (CLI) – Research Analysts’ Weekly Ratings Updates

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A number of firms have modified their ratings and price targets on shares of Mack Cali Realty (NYSE: CLI) recently:

  • 10/16/2018 – Mack Cali Realty was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Mark-Cali’s shares have underperformed the industry over the past year. Moreover, the trend in estimate revisions for 2018 funds from operations (FFO) per share does not indicate a favorable outlook for the company.  While Mack-Cali has been aimed at transforming itself by focusing on waterfront and transit-based office holdings and luxury multifamily portfolio, such plans involve significant upfront costs and could restrain its profit margin. Further, it has been aggressively disposing assets. While such measures are a strategic fit for the long term, the dilutive impact on earnings from huge asset sales cannot be bypassed in the near term. Rate hikes also add to its woes. Nonetheless, it enjoys debt-free ownership for the bulk of its portfolio.”
  • 10/14/2018 – Mack Cali Realty had its “sell” rating reaffirmed by analysts at Barclays PLC. They now have a $18.00 price target on the stock.
  • 10/5/2018 – Mack Cali Realty was downgraded by analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating.
  • 10/3/2018 – Mack Cali Realty was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
  • 9/27/2018 – Mack Cali Realty was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
  • 9/25/2018 – Mack Cali Realty had its price target lowered by analysts at Stifel Nicolaus from $23.00 to $21.00. They now have a “hold” rating on the stock.
  • 8/29/2018 – Mack Cali Realty had its price target raised by analysts at Deutsche Bank AG from $21.00 to $22.00. They now have a “hold” rating on the stock.

NYSE:CLI opened at $19.95 on Friday. 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 $23.54. The stock has a market capitalization of $1.81 billion, a price-to-earnings ratio of 8.95 and a beta of 1.19.

Mack Cali Realty (NYSE:CLI) last released its quarterly earnings data on Wednesday, August 1st. The real estate investment trust reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.44 by ($0.49). Mack Cali Realty had a net margin of 13.89% and a return on equity of 4.70%. The company had revenue of $126.58 million during the quarter, compared to analysts’ expectations of $133.28 million. During the same period last year, the business earned $0.60 earnings per share. The company’s revenue for the quarter was down 90.0% compared to the same quarter last year. Equities research analysts anticipate that Mack Cali Realty Corp will post 1.83 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, October 12th. Stockholders of record on Tuesday, October 2nd were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.01%. The ex-dividend date was Monday, October 1st. Mack Cali Realty’s payout ratio is 35.87%.

In other news, EVP Robert Andrew Marshall sold 1,426 shares of Mack Cali Realty stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $21.28, for a total transaction of $30,345.28. Following the sale, the executive vice president now directly owns 1,426 shares of the company’s stock, valued at $30,345.28. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 6.83% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Mutual of America Capital Management LLC increased its position in shares of Mack Cali Realty by 4.4% during the second quarter. Mutual of America Capital Management LLC now owns 77,253 shares of the real estate investment trust’s stock worth $1,567,000 after acquiring an additional 3,289 shares during the last quarter. State of Alaska Department of Revenue increased its position in shares of Mack Cali Realty by 89.9% during the second quarter. State of Alaska Department of Revenue now owns 7,424 shares of the real estate investment trust’s stock worth $150,000 after acquiring an additional 3,514 shares during the last quarter. First Hawaiian Bank purchased a new stake in shares of Mack Cali Realty during the third quarter worth about $123,000. Tower Research Capital LLC TRC increased its position in shares of Mack Cali Realty by 67.2% during the second quarter. Tower Research Capital LLC TRC now owns 16,360 shares of the real estate investment trust’s stock worth $332,000 after acquiring an additional 6,577 shares during the last quarter. Finally, Northwestern Mutual Investment Management Company LLC increased its position 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 acquiring an additional 6,677 shares during the last quarter. 98.07% of the stock is currently owned by institutional investors and hedge funds.

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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