Mack Cali Realty Corp (CLI) Target Price Grow to $29.00 by Analysts at Deutsche Bank AG

Mack Cali Realty Corp (CLI) Target Price Grow to $29.00 by Analysts at Deutsche Bank AG

Mack Cali Realty Corp (NYSE:CLI) had its target price boosted by Deutsche Bank AG from $28.00 to $29.00 in a research note released on Thursday morning. The brokerage currently has a hold rating on the real estate investment trust’s stock.

Separately, Zacks Investment Research raised Mack Cali Realty Corp from a hold rating to a buy rating and set a $31.00 target price for the company in a report on Wednesday, February 15th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. Mack Cali Realty Corp presently has a consensus rating of Hold and a consensus price target of $30.00.

Shares of Mack Cali Realty Corp (NYSE:CLI) opened at 26.79 on Thursday. The stock’s 50 day moving average is $27.37 and its 200 day moving average is $27.74. Mack Cali Realty Corp has a 52-week low of $24.59 and a 52-week high of $29.70. The stock has a market cap of $2.41 billion, a price-to-earnings ratio of 37.11 and a beta of 1.09.

Mack Cali Realty Corp (NYSE:CLI) last released its earnings results on Tuesday, May 9th. The real estate investment trust reported $0.56 EPS for the quarter, missing the Zacks’ consensus estimate of $0.57 by $0.01. Mack Cali Realty Corp had a return on equity of 4.10% and a net margin of 11.60%. The firm had revenue of $149.90 million for the quarter, compared to analyst estimates of $151.22 million. During the same period last year, the firm earned $0.69 EPS. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. On average, equities analysts predict that Mack Cali Realty Corp will post $0.23 EPS for the current fiscal year.

In related news, Director Alan G. Philibosian sold 15,000 shares of Mack Cali Realty Corp stock in a transaction that occurred on Friday, March 17th. The stock was sold at an average price of $27.22, for a total transaction of $408,300.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 6.73% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in CLI. Piedmont Investment Advisors LLC boosted its position in shares of Mack Cali Realty Corp by 131.2% in the first quarter. Piedmont Investment Advisors LLC now owns 21,806 shares of the real estate investment trust’s stock valued at $587,000 after buying an additional 12,373 shares in the last quarter. Jane Street Group LLC bought a new position in shares of Mack Cali Realty Corp during the first quarter valued at $219,000. Shelton Capital Management boosted its position in shares of Mack Cali Realty Corp by 17.1% in the first quarter. Shelton Capital Management now owns 17,246 shares of the real estate investment trust’s stock valued at $465,000 after buying an additional 2,523 shares in the last quarter. Paloma Partners Management Co boosted its position in shares of Mack Cali Realty Corp by 55.3% in the first quarter. Paloma Partners Management Co now owns 24,606 shares of the real estate investment trust’s stock valued at $663,000 after buying an additional 8,763 shares in the last quarter. Finally, Weiss Multi Strategy Advisers LLC boosted its position in shares of Mack Cali Realty Corp by 49.6% in the first quarter. Weiss Multi Strategy Advisers LLC now owns 1,823,351 shares of the real estate investment trust’s stock valued at $49,121,000 after buying an additional 604,388 shares in the last quarter.

Mack Cali Realty Corp Company Profile

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. It operates in three segments: commercial and other real estate, multi-family real estate and multi-family services.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “CLI”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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