Mack Cali Realty Corp (CLI) Receives $20.25 Consensus Target Price from Analysts

Shares of Mack Cali Realty Corp (NYSE:CLI) have earned a consensus rating of “Hold” from the nine analysts that are currently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $20.25.

Several brokerages recently issued reports on CLI. Zacks Investment Research upgraded Mack Cali Realty from a “sell” rating to a “hold” rating in a research report on Wednesday, December 5th. ValuEngine upgraded Mack Cali Realty from a “sell” rating to a “hold” rating in a research report on Friday, October 19th. Finally, SunTrust Banks reiterated a “buy” rating on shares of Mack Cali Realty in a research report on Monday, December 3rd.

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. First Manhattan Co. lifted its stake in Mack Cali Realty by 1.1% in the 3rd quarter. First Manhattan Co. now owns 664,669 shares of the real estate investment trust’s stock valued at $14,130,000 after acquiring an additional 7,425 shares in the last quarter. Teachers Advisors LLC raised its stake in shares of Mack Cali Realty by 0.3% during the 3rd quarter. Teachers Advisors LLC now owns 263,918 shares of the real estate investment trust’s stock worth $5,611,000 after purchasing an additional 907 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Mack Cali Realty by 3.6% during the 3rd quarter. Legal & General Group Plc now owns 398,214 shares of the real estate investment trust’s stock worth $8,465,000 after purchasing an additional 13,708 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Mack Cali Realty by 14.3% during the 3rd quarter. Renaissance Technologies LLC now owns 3,990,200 shares of the real estate investment trust’s stock worth $84,832,000 after purchasing an additional 498,595 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its stake in shares of Mack Cali Realty by 1.9% during the 4th quarter. State of Alaska Department of Revenue now owns 29,518 shares of the real estate investment trust’s stock worth $578,000 after purchasing an additional 540 shares in the last quarter. Hedge funds and other institutional investors own 98.96% of the company’s stock.

Shares of CLI opened at $21.01 on Tuesday. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.71 and a quick ratio of 0.71. Mack Cali Realty has a 52-week low of $15.86 and a 52-week high of $22.26. The company has a market capitalization of $1.90 billion, a P/E ratio of 9.42 and a beta of 1.14.

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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