Mack Cali Realty (NYSE:CLI) Price Target Raised to $24.00

Mack Cali Realty (NYSE:CLI) had its target price increased by equities research analysts at Deutsche Bank from $23.00 to $24.00 in a research report issued to clients and investors on Thursday, BenzingaRatingsTable reports. The firm presently has a “hold” rating on the real estate investment trust’s stock. Deutsche Bank’s target price would suggest a potential upside of 11.58% from the stock’s current price.

A number of other research firms also recently weighed in on CLI. BTIG Research reiterated a “buy” rating and set a $30.00 price target (up previously from $26.00) on shares of Mack Cali Realty in a research note on Thursday, June 13th. TheStreet downgraded shares of Mack Cali Realty from a “b-” rating to a “c+” rating in a research note on Wednesday, August 28th. Evercore ISI restated a “hold” rating and issued a $24.00 target price on shares of Mack Cali Realty in a research note on Sunday, August 11th. Finally, ValuEngine downgraded shares of Mack Cali Realty from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. Mack Cali Realty has a consensus rating of “Hold” and an average price target of $22.79.

CLI traded up $0.01 during trading on Thursday, reaching $21.51. 189,748 shares of the company’s stock were exchanged, compared to its average volume of 469,027. Mack Cali Realty has a fifty-two week low of $18.74 and a fifty-two week high of $24.88. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.43. The business has a 50 day moving average price of $21.19 and a 200 day moving average price of $22.50. The company has a market capitalization of $1.96 billion, a P/E ratio of 11.75, a PEG ratio of 5.68 and a beta of 1.06.

Mack Cali Realty (NYSE:CLI) last posted its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported ($0.43) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.84). Mack Cali Realty had a return on equity of 14.57% and a net margin of 49.47%. The business had revenue of $130.46 million for the quarter, compared to analyst estimates of $132.61 million. During the same quarter in the prior year, the firm earned $0.45 EPS. The firm’s quarterly revenue was up 3.1% on a year-over-year basis. As a group, research analysts forecast that Mack Cali Realty will post 1.62 EPS for the current year.

Large investors have recently modified their holdings of the company. Advisor Group Inc. raised its holdings in shares of Mack Cali Realty by 33.1% in the second quarter. Advisor Group Inc. now owns 1,849 shares of the real estate investment trust’s stock valued at $43,000 after buying an additional 460 shares during the last quarter. Oregon Public Employees Retirement Fund raised its holdings in shares of Mack Cali Realty by 1.4% in the second quarter. Oregon Public Employees Retirement Fund now owns 36,183 shares of the real estate investment trust’s stock valued at $843,000 after buying an additional 516 shares during the last quarter. Profund Advisors LLC raised its holdings in shares of Mack Cali Realty by 3.8% in the second quarter. Profund Advisors LLC now owns 15,458 shares of the real estate investment trust’s stock valued at $360,000 after buying an additional 568 shares during the last quarter. Arizona State Retirement System raised its holdings in shares of Mack Cali Realty by 1.1% in the second quarter. Arizona State Retirement System now owns 65,566 shares of the real estate investment trust’s stock valued at $1,527,000 after buying an additional 711 shares during the last quarter. Finally, Marshall Wace North America L.P. raised its holdings in shares of Mack Cali Realty by 35.9% in the first quarter. Marshall Wace North America L.P. now owns 3,408 shares of the real estate investment trust’s stock valued at $76,000 after buying an additional 900 shares during the last quarter. Institutional investors own 92.35% of the company’s stock.

Mack Cali Realty Company Profile

One of the country's leading real estate investment trusts (REITs), Mack-Cali Realty Corporation is an owner, manager and developer of premier office and multifamily properties in select waterfront and transit-oriented markets throughout the Northeast. Mack-Cali is headquartered in Jersey City, New Jersey, and is the visionary behind the city's flourishing waterfront, where the company is leading development, improvement and place-making initiatives for Harborside, a master-planned destination comprised of class A office, luxury apartments, diverse retail and restaurants, and public spaces.

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Analyst Recommendations for Mack Cali Realty (NYSE:CLI)

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