JPMorgan Chase & Co. decreased its position in Mack-Cali Realty Corp. (NYSE:CLI) by 3.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 386,785 shares of the real estate investment trust’s stock after selling 11,899 shares during the period. JPMorgan Chase & Co. owned about 0.43% of Mack-Cali Realty Corp. worth $10,444,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of the company. LSV Asset Management raised its stake in shares of Mack-Cali Realty Corp. by 90.6% in the second quarter. LSV Asset Management now owns 4,036,894 shares of the real estate investment trust’s stock worth $108,996,000 after buying an additional 1,918,895 shares in the last quarter. American Century Companies Inc. acquired a new position in Mack-Cali Realty Corp. during the second quarter valued at about $29,205,000. Forward Management LLC raised its position in Mack-Cali Realty Corp. by 1,801.6% in the second quarter. Forward Management LLC now owns 734,000 shares of the real estate investment trust’s stock valued at $19,818,000 after buying an additional 695,400 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Mack-Cali Realty Corp. by 88.1% in the first quarter. Goldman Sachs Group Inc. now owns 1,311,429 shares of the real estate investment trust’s stock valued at $30,818,000 after buying an additional 614,127 shares in the last quarter. Finally, Foundry Partners LLC acquired a new position in Mack-Cali Realty Corp. during the second quarter valued at about $10,008,000.
Mack-Cali Realty Corp. (NYSE:CLI) traded up 0.19% during midday trading on Wednesday, hitting $25.84. The company’s stock had a trading volume of 315,438 shares. The firm’s market cap is $2.32 billion. Mack-Cali Realty Corp. has a 12 month low of $17.35 and a 12 month high of $29.25. The company’s 50 day moving average price is $27.52 and its 200 day moving average price is $26.41.
Mack-Cali Realty Corp. (NYSE:CLI) last issued its quarterly earnings data on Tuesday, August 2nd. The real estate investment trust reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. Mack-Cali Realty Corp. had a negative net margin of 8.07% and a negative return on equity of 2.79%. The firm earned $149.23 million during the quarter, compared to the consensus estimate of $156.82 million. During the same quarter in the previous year, the firm posted $0.46 EPS. Analysts expect that Mack-Cali Realty Corp. will post $2.11 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Wednesday, October 5th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date is Monday, October 3rd. Mack-Cali Realty Corp.’s payout ratio is -111.11%.
Several equities analysts have recently issued reports on CLI shares. Citigroup Inc. upped their target price on Mack-Cali Realty Corp. from $29.50 to $31.50 and gave the company a “buy” rating in a report on Thursday, July 7th. Deutsche Bank AG upped their target price on Mack-Cali Realty Corp. from $25.00 to $28.00 and gave the company a “hold” rating in a report on Monday, July 18th. Barclays PLC upped their target price on Mack-Cali Realty Corp. from $26.00 to $28.00 and gave the company an “underweight” rating in a report on Tuesday, July 19th. Stifel Nicolaus upped their target price on Mack-Cali Realty Corp. from $28.00 to $30.00 and gave the company a “buy” rating in a report on Friday, August 5th. Finally, Zacks Investment Research lowered Mack-Cali Realty Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, August 9th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $27.31.
About Mack-Cali Realty Corp.
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 located primarily in the Northeast. The Company’s segments include commercial and other real estate, multi-family real estate, multi-family services, and corporate & other.
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