Public Employees Retirement System of Ohio lowered its stake in shares of Mack Cali Realty Corp (NYSE:CLI) by 22.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 105,498 shares of the real estate investment trust’s stock after selling 30,041 shares during the quarter. Public Employees Retirement System of Ohio owned approximately 0.12% of Mack Cali Realty worth $2,067,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of CLI. State of Alaska Department of Revenue raised its position in shares of Mack Cali Realty by 1.9% in the 4th quarter. State of Alaska Department of Revenue now owns 29,518 shares of the real estate investment trust’s stock valued at $578,000 after acquiring an additional 540 shares during the period. Arizona State Retirement System raised its holdings in Mack Cali Realty by 1.1% during the 4th quarter. Arizona State Retirement System now owns 64,826 shares of the real estate investment trust’s stock worth $1,270,000 after buying an additional 701 shares during the period. Teachers Advisors LLC grew 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 acquiring an additional 907 shares in the last quarter. Daiwa Securities Group Inc. grew its stake in shares of Mack Cali Realty by 7.8% during the 4th quarter. Daiwa Securities Group Inc. now owns 13,900 shares of the real estate investment trust’s stock worth $272,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its stake in shares of Mack Cali Realty by 2.1% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 58,400 shares of the real estate investment trust’s stock worth $1,144,000 after acquiring an additional 1,200 shares in the last quarter. 98.33% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have recently weighed in on CLI shares. SunTrust Banks cut shares of Mack Cali Realty from a “buy” rating to a “hold” rating in a research note on Tuesday, January 15th. Zacks Investment Research cut shares of Mack Cali Realty from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 6th. ValuEngine raised shares of Mack Cali Realty from a “hold” rating to a “buy” rating in a research note on Friday, February 8th. BTIG Research raised shares of Mack Cali Realty from a “neutral” rating to a “buy” rating and set a $26.00 price target for the company in a research note on Tuesday, March 19th. Finally, Deutsche Bank raised their target price on shares of Mack Cali Realty from $21.00 to $23.00 and gave the company a “hold” rating in a research note on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. Mack Cali Realty presently has a consensus rating of “Hold” and a consensus price target of $21.60.
Mack Cali Realty stock traded up $0.57 during midday trading on Wednesday, reaching $22.30. The company’s stock had a trading volume of 4,801 shares, compared to its average volume of 346,236. Mack Cali Realty Corp has a 52 week low of $16.42 and a 52 week high of $22.67. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.65. The stock has a market cap of $1.96 billion, a PE ratio of 12.12 and a beta of 1.11.
Mack Cali Realty (NYSE:CLI) last released its earnings results on Wednesday, February 20th. The real estate investment trust reported $0.45 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.45. The firm had revenue of $132.94 million for the quarter, compared to analysts’ expectations of $133.43 million. Mack Cali Realty had a return on equity of 4.62% and a net margin of 14.71%. The business’s revenue for the quarter was down 7.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.50 earnings per share. As a group, analysts expect that Mack Cali Realty Corp will post 1.65 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Tuesday, April 2nd were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.59%. The ex-dividend date of this dividend was Monday, April 1st. Mack Cali Realty’s dividend payout ratio (DPR) is currently 43.72%.
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About Mack Cali Realty
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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