RS Investment Management Co. LLC decreased its position in Mack-Cali Realty Corp. (NYSE:CLI) by 13.6% during the second quarter, Holdings Channel reports. The institutional investor owned 1,048,325 shares of the real estate investment trust’s stock after selling 165,316 shares during the period. RS Investment Management Co. LLC’s holdings in Mack-Cali Realty Corp. were worth $28,305,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. BlackRock Japan Co. Ltd boosted its stake in Mack-Cali Realty Corp. by 1.5% in the first quarter. BlackRock Japan Co. Ltd now owns 4,722 shares of the real estate investment trust’s stock worth $111,000 after buying an additional 72 shares in the last quarter. LS Investment Advisors LLC boosted its stake in Mack-Cali Realty Corp. by 76.8% in the second quarter. LS Investment Advisors LLC now owns 5,422 shares of the real estate investment trust’s stock worth $146,000 after buying an additional 2,355 shares in the last quarter. Invictus RG bought a new stake in Mack-Cali Realty Corp. during the first quarter worth approximately $158,000. Meeder Asset Management Inc. boosted its stake in Mack-Cali Realty Corp. by 24.6% in the second quarter. Meeder Asset Management Inc. now owns 7,336 shares of the real estate investment trust’s stock worth $198,000 after buying an additional 1,448 shares in the last quarter. Finally, M&T Bank Corp boosted its stake in Mack-Cali Realty Corp. by 10.9% in the first quarter. M&T Bank Corp now owns 11,653 shares of the real estate investment trust’s stock worth $274,000 after buying an additional 1,142 shares in the last quarter.
Mack-Cali Realty Corp. (NYSE:CLI) traded down 0.18% during trading on Friday, hitting $27.80. The stock had a trading volume of 358,377 shares. Mack-Cali Realty Corp. has a 12-month low of $17.35 and a 12-month high of $29.25. The company has a 50 day moving average of $27.56 and a 200-day moving average of $26.09. The company’s market cap is $2.49 billion.
Mack-Cali Realty Corp. (NYSE:CLI) last announced its quarterly earnings data on Tuesday, August 2nd. The real estate investment trust reported $0.55 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.02. The business earned $149.23 million during the quarter, compared to analyst estimates of $156.82 million. Mack-Cali Realty Corp. had a negative return on equity of 2.79% and a negative net margin of 8.07%. During the same quarter in the prior year, the firm posted $0.46 earnings per share. On average, equities analysts predict that Mack-Cali Realty Corp. will post $2.11 EPS for the current year.
A number of analysts recently commented on the company. Barclays PLC lifted their price objective on Mack-Cali Realty Corp. from $26.00 to $28.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 19th. Zacks Investment Research upgraded Mack-Cali Realty Corp. from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a research report on Tuesday, May 31st. Stifel Nicolaus lifted their price target 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. Evercore ISI upgraded Mack-Cali Realty Corp. from a “hold” rating to a “buy” rating in a report on Monday. Finally, BTIG Research began coverage on Mack-Cali Realty Corp. in a report on Thursday, August 25th. They issued a “neutral” rating for the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus 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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