Public Sector Pension Investment Board boosted its holdings in shares of Mack Cali Realty Corp (NYSE:CLI) by 92.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 166,700 shares of the real estate investment trust’s stock after buying an additional 80,300 shares during the quarter. Public Sector Pension Investment Board owned 0.18% of Mack Cali Realty worth $3,856,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in CLI. Huntington National Bank purchased a new stake in Mack Cali Realty in the fourth quarter valued at $59,000. Marshall Wace North America L.P. boosted its stake in shares of Mack Cali Realty by 35.9% during the 1st quarter. Marshall Wace North America L.P. now owns 3,408 shares of the real estate investment trust’s stock worth $76,000 after acquiring an additional 900 shares in the last quarter. Assetmark Inc. purchased a new stake in shares of Mack Cali Realty during the 4th quarter worth about $83,000. Dupont Capital Management Corp grew its position in shares of Mack Cali Realty by 288.9% during the 4th quarter. Dupont Capital Management Corp now owns 5,907 shares of the real estate investment trust’s stock valued at $137,000 after acquiring an additional 4,388 shares during the period. Finally, Envestnet Asset Management Inc. acquired a new stake in shares of Mack Cali Realty during the 4th quarter valued at about $229,000. Institutional investors and hedge funds own 94.43% of the company’s stock.
Shares of NYSE:CLI traded up $0.38 during midday trading on Thursday, hitting $15.90. The company’s stock had a trading volume of 104,627 shares, compared to its average volume of 1,477,849. The company has a market cap of $1.37 billion, a P/E ratio of 16.94, a price-to-earnings-growth ratio of 2.47 and a beta of 1.22. Mack Cali Realty Corp has a 12-month low of $14.12 and a 12-month high of $24.88. The business’s 50 day simple moving average is $19.59 and its 200 day simple moving average is $21.36. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.66 and a current ratio of 0.66.
Mack Cali Realty (NYSE:CLI) last released its earnings results on Wednesday, February 26th. The real estate investment trust reported $0.53 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.12. Mack Cali Realty had a net margin of 22.52% and a return on equity of 12.39%. The business had revenue of $86.67 million for the quarter, compared to analyst estimates of $138.68 million. On average, sell-side analysts predict that Mack Cali Realty Corp will post 1.3 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 14th. Stockholders of record on Thursday, April 2nd will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 5.03%. The ex-dividend date of this dividend is Wednesday, April 1st. Mack Cali Realty’s dividend payout ratio (DPR) is presently 49.38%.
A number of equities analysts recently weighed in on CLI shares. Deutsche Bank upgraded Mack Cali Realty from a “hold” rating to a “buy” rating in a research report on Monday, January 6th. Citigroup reaffirmed a “hold” rating and set a $24.00 target price on shares of Mack Cali Realty in a research note on Friday, December 20th. TheStreet upgraded Mack Cali Realty from a “c” rating to a “b-” rating in a research report on Tuesday, March 10th. Zacks Investment Research cut shares of Mack Cali Realty from a “hold” rating to a “strong sell” rating and set a $20.00 price target on the stock. in a research note on Tuesday, January 21st. Finally, Evercore ISI raised shares of Mack Cali Realty from an “in-line” rating to an “outperform” rating and set a $27.00 price target on the stock in a research note on Monday, January 6th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $24.14.
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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