Brokerages expect that Mack Cali Realty Corp (NYSE:CLI) will report $150.19 million in sales for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Mack Cali Realty Corp’s earnings, with the highest sales estimate coming in at $156.48 million and the lowest estimate coming in at $140.73 million. Mack Cali Realty Corp posted sales of $149.23 million during the same quarter last year, which suggests a positive year-over-year growth rate of 0.6%. The firm is expected to report its next quarterly earnings report on Tuesday, August 1st.
According to Zacks, analysts expect that Mack Cali Realty Corp will report full-year sales of $150.19 million for the current year, with estimates ranging from $562.31 million to $617.84 million. For the next financial year, analysts forecast that the company will report sales of $598.58 million per share, with estimates ranging from $564.83 million to $620.57 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Mack Cali Realty Corp.
Mack Cali Realty Corp (NYSE:CLI) last issued its earnings results on Tuesday, May 9th. The real estate investment trust reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by $0.01. Mack Cali Realty Corp had a net margin of 11.60% and a return on equity of 4.10%. The firm had revenue of $149.90 million during the quarter, compared to the consensus estimate of $151.22 million. During the same period in the previous year, the firm earned $0.69 earnings per share. The business’s quarterly revenue was down 2.0% on a year-over-year basis.
A number of brokerages have weighed in on CLI. Zacks Investment Research raised shares of Mack Cali Realty Corp from a “sell” rating to a “hold” rating in a research note on Monday, March 20th. Barclays PLC reaffirmed an “underweight” rating and set a $27.00 target price (down previously from $28.00) on shares of Mack Cali Realty Corp in a research note on Monday, January 23rd. Finally, Deutsche Bank AG raised their target price on shares of Mack Cali Realty Corp from $27.00 to $28.00 and gave the company a “hold” rating in a research note on Monday, March 20th. 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 company has a consensus rating of “Hold” and a consensus target price of $29.83.
In other Mack Cali Realty Corp 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 shares were sold at an average price of $27.22, for a total value of $408,300.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 6.73% of the company’s stock.
A number of large investors have recently bought and sold shares of the company. Comerica Bank increased its stake in Mack Cali Realty Corp by 6.2% in the fourth quarter. Comerica Bank now owns 65,746 shares of the real estate investment trust’s stock worth $1,863,000 after buying an additional 3,832 shares during the period. Frontier Capital Management Co. LLC increased its stake in Mack Cali Realty Corp by 33.9% in the fourth quarter. Frontier Capital Management Co. LLC now owns 2,101,267 shares of the real estate investment trust’s stock worth $60,979,000 after buying an additional 532,540 shares during the period. Equity Investment Corp Acquisition Inc bought a new stake in Mack Cali Realty Corp during the fourth quarter worth approximately $33,584,000. Russell Investments Group Ltd. bought a new stake in Mack Cali Realty Corp during the fourth quarter worth approximately $8,000,000. Finally, ETRADE Capital Management LLC bought a new stake in Mack Cali Realty Corp during the third quarter worth approximately $254,000.
Shares of Mack Cali Realty Corp (NYSE:CLI) traded up 0.04% during mid-day trading on Friday, reaching $26.58. The company had a trading volume of 675,277 shares. The company has a market capitalization of $2.38 billion, a P/E ratio of 20.40 and a beta of 1.09. The firm has a 50-day moving average of $27.36 and a 200-day moving average of $27.61. Mack Cali Realty Corp has a 12-month low of $24.30 and a 12-month high of $29.70.
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.
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