Mack-Cali Realty Corporation (CLI) Stake Increased by State Treasurer State of Michigan

State Treasurer State of Michigan boosted its position in Mack-Cali Realty Corporation (NYSE:CLI) by 1.4% during the second quarter, according to its most recent filing with the SEC. The firm owned 37,000 shares of the real estate investment trust’s stock after buying an additional 500 shares during the period. State Treasurer State of Michigan’s holdings in Mack-Cali Realty Corporation were worth $1,004,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in Mack-Cali Realty Corporation by 6,678.9% in the first quarter. BlackRock Inc. now owns 11,568,140 shares of the real estate investment trust’s stock worth $311,648,000 after buying an additional 11,397,492 shares during the last quarter. Nuveen Asset Management LLC boosted its stake in Mack-Cali Realty Corporation by 233.1% in the first quarter. Nuveen Asset Management LLC now owns 1,893,742 shares of the real estate investment trust’s stock worth $51,017,000 after buying an additional 1,325,149 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Mack-Cali Realty Corporation by 60.3% in the first quarter. Bank of New York Mellon Corp now owns 3,185,577 shares of the real estate investment trust’s stock worth $85,820,000 after buying an additional 1,198,902 shares during the last quarter. Weiss Multi Strategy Advisers LLC boosted its stake in Mack-Cali Realty Corporation 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 worth $49,121,000 after buying an additional 604,388 shares during the last quarter. Finally, PGGM Investments boosted its stake in Mack-Cali Realty Corporation by 320.6% in the first quarter. PGGM Investments now owns 762,000 shares of the real estate investment trust’s stock worth $20,528,000 after buying an additional 580,818 shares during the last quarter. Institutional investors own 99.59% of the company’s stock.

Shares of Mack-Cali Realty Corporation (CLI) traded up 0.20% during midday trading on Tuesday, reaching $24.90. 98,764 shares of the company’s stock were exchanged. The stock’s market cap is $2.24 billion. The company’s 50-day moving average is $27.01 and its 200-day moving average is $27.48. Mack-Cali Realty Corporation has a one year low of $24.59 and a one year high of $29.70.

Mack-Cali Realty Corporation (NYSE:CLI) last announced its earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.60 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by $0.01. The business had revenue of $162.77 million for the quarter, compared to analyst estimates of $150.94 million. Mack-Cali Realty Corporation had a negative return on equity of 1.21% and a negative net margin of 3.31%. During the same period in the previous year, the company earned $0.55 earnings per share. Equities analysts expect that Mack-Cali Realty Corporation will post $0.23 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Thursday, July 6th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.22%. This is an increase from Mack-Cali Realty Corporation’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Monday, July 3rd. Mack-Cali Realty Corporation’s dividend payout ratio is presently -307.69%.

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CLI has been the topic of a number of recent analyst reports. BidaskClub upgraded shares of Mack-Cali Realty Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, June 17th. Deutsche Bank AG raised their target price on shares of Mack-Cali Realty Corporation from $28.00 to $29.00 and gave the stock a “hold” rating in a research note on Thursday, May 25th. Finally, Barclays PLC decreased their target price on shares of Mack-Cali Realty Corporation from $29.00 to $28.00 and set an “underweight” rating on the stock in a research note on Tuesday, July 18th. Three analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. Mack-Cali Realty Corporation has an average rating of “Hold” and an average price target of $30.20.

Mack-Cali Realty Corporation 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.

Institutional Ownership by Quarter for Mack-Cali Realty Corporation (NYSE:CLI)

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