Brokerages Expect Mack Cali Realty Corp (CLI) to Post $0.54 Earnings Per Share

Analysts forecast that Mack Cali Realty Corp (NYSE:CLI) will post earnings of $0.54 per share for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Mack Cali Realty’s earnings, with the highest EPS estimate coming in at $0.59 and the lowest estimate coming in at $0.52. Mack Cali Realty posted earnings per share of $0.56 during the same quarter last year, which indicates a negative year-over-year growth rate of 3.6%. The firm is expected to announce its next quarterly earnings report on Tuesday, February 27th.

According to Zacks, analysts expect that Mack Cali Realty will report full-year earnings of $2.26 per share for the current year, with EPS estimates ranging from $2.26 to $2.27. For the next fiscal year, analysts anticipate that the business will report earnings of $2.11 per share, with EPS estimates ranging from $1.89 to $2.35. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Mack Cali Realty.

Mack Cali Realty (NYSE:CLI) last announced its earnings results on Tuesday, November 7th. The real estate investment trust reported $0.57 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.01). The firm had revenue of $160.02 million during the quarter, compared to analyst estimates of $156.18 million. Mack Cali Realty had a return on equity of 1.53% and a net margin of 4.14%. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.60 earnings per share.

CLI has been the subject of several research reports. Citigroup decreased their price target on shares of Mack Cali Realty from $27.50 to $26.00 and set a “neutral” rating for the company in a report on Thursday, September 21st. Zacks Investment Research upgraded shares of Mack Cali Realty from a “sell” rating to a “hold” rating in a report on Monday, November 13th. ValuEngine upgraded shares of Mack Cali Realty from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Finally, Stifel Nicolaus cut shares of Mack Cali Realty from a “buy” rating to a “sell” rating in a report on Wednesday, November 8th. Four analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $28.00.

Mack Cali Realty (NYSE:CLI) traded down $0.14 during mid-day trading on Wednesday, hitting $20.74. 290,148 shares of the company traded hands, compared to its average volume of 557,655. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.20 and a current ratio of 1.20. The firm has a market capitalization of $1,877.41, a PE ratio of 90.18, a P/E/G ratio of 2.93 and a beta of 1.19. Mack Cali Realty has a twelve month low of $20.71 and a twelve month high of $29.70.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 12th. Investors of record on Wednesday, January 3rd were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.86%. The ex-dividend date was Tuesday, January 2nd. Mack Cali Realty’s payout ratio is presently 347.84%.

A number of institutional investors and hedge funds have recently modified their holdings of CLI. Comerica Bank raised its position in Mack Cali Realty by 0.8% during the second quarter. Comerica Bank now owns 69,428 shares of the real estate investment trust’s stock valued at $1,807,000 after acquiring an additional 566 shares in the last quarter. Federated Investors Inc. PA raised its position in Mack Cali Realty by 87.2% during the second quarter. Federated Investors Inc. PA now owns 58,101 shares of the real estate investment trust’s stock valued at $1,577,000 after acquiring an additional 27,065 shares in the last quarter. Prudential Financial Inc. raised its position in Mack Cali Realty by 57.9% during the second quarter. Prudential Financial Inc. now owns 380,498 shares of the real estate investment trust’s stock valued at $10,326,000 after acquiring an additional 139,530 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Mack Cali Realty by 10.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,580 shares of the real estate investment trust’s stock valued at $179,000 after acquiring an additional 628 shares in the last quarter. Finally, Swiss National Bank raised its position in Mack Cali Realty by 2.2% during the second quarter. Swiss National Bank now owns 143,100 shares of the real estate investment trust’s stock valued at $3,884,000 after acquiring an additional 3,100 shares in the last quarter. 99.16% of the stock is currently owned by hedge funds and other institutional investors.

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About Mack Cali Realty

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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Earnings History and Estimates for Mack Cali Realty (NYSE:CLI)

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