Wall Street analysts expect Mack Cali Realty Corp (NYSE:CLI) to report $0.41 earnings per share (EPS) for the current quarter, according to Zacks. Two analysts have issued estimates for Mack Cali Realty’s earnings. The highest EPS estimate is $0.43 and the lowest is $0.37. Mack Cali Realty reported earnings of $0.45 per share in the same quarter last year, which indicates a negative year over year growth rate of 8.9%. The business is scheduled to report its next quarterly earnings report on Wednesday, February 19th.
On average, analysts expect that Mack Cali Realty will report full-year earnings of $1.60 per share for the current financial year, with EPS estimates ranging from $1.55 to $1.62. For the next financial year, analysts expect that the business will post earnings of $1.50 per share, with EPS estimates ranging from $1.32 to $1.66. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for Mack Cali Realty.
Mack Cali Realty (NYSE:CLI) last announced its earnings results on Wednesday, October 30th. The real estate investment trust reported ($0.65) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by ($1.04). Mack Cali Realty had a return on equity of 11.35% and a net margin of 39.15%. The firm had revenue of $131.88 million for the quarter, compared to the consensus estimate of $120.85 million. During the same period in the previous year, the firm earned $0.43 EPS. Mack Cali Realty’s revenue for the quarter was down .2% on a year-over-year basis.
Several research firms have issued reports on CLI. BTIG Research restated a “buy” rating and issued a $30.00 price target on shares of Mack Cali Realty in a research report on Friday, December 20th. Evercore ISI upgraded shares of Mack Cali Realty from an “in-line” rating to an “outperform” rating and set a $27.00 price target on the stock in a research report on Monday, January 6th. Deutsche Bank upgraded shares of Mack Cali Realty from a “hold” rating to a “buy” rating in a research report on Monday, January 6th. JPMorgan Chase & Co. lowered shares of Mack Cali Realty from a “neutral” rating to an “underweight” rating and decreased their price target for the stock from $25.00 to $20.00 in a research report on Wednesday, December 18th. Finally, Stifel Nicolaus lowered shares of Mack Cali Realty from a “buy” rating to a “hold” rating and set a $24.00 price target on the stock. in a research report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $24.57.
Institutional investors have recently bought and sold shares of the business. Millennium Management LLC grew its position in Mack Cali Realty by 102.4% during the 3rd quarter. Millennium Management LLC now owns 84,406 shares of the real estate investment trust’s stock worth $1,828,000 after purchasing an additional 3,593,506 shares in the last quarter. Nuveen Asset Management LLC grew its position in Mack Cali Realty by 304.2% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,693,130 shares of the real estate investment trust’s stock worth $39,433,000 after purchasing an additional 1,274,275 shares in the last quarter. Land & Buildings Investment Management LLC purchased a new position in Mack Cali Realty during the 2nd quarter worth approximately $15,796,000. Dalton Greiner Hartman Maher & Co. grew its position in Mack Cali Realty by 139.5% during the 4th quarter. Dalton Greiner Hartman Maher & Co. now owns 963,372 shares of the real estate investment trust’s stock worth $22,283,000 after purchasing an additional 561,058 shares in the last quarter. Finally, Northern Trust Corp grew its position in Mack Cali Realty by 8.0% during the 2nd quarter. Northern Trust Corp now owns 2,638,144 shares of the real estate investment trust’s stock worth $61,442,000 after purchasing an additional 194,701 shares in the last quarter. Hedge funds and other institutional investors own 92.11% of the company’s stock.
Mack Cali Realty stock traded down $0.09 during mid-day trading on Tuesday, hitting $23.56. The company’s stock had a trading volume of 493,212 shares, compared to its average volume of 542,727. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 1.76. The stock has a market capitalization of $2.14 billion, a P/E ratio of 11.61 and a beta of 1.06. Mack Cali Realty has a twelve month low of $19.77 and a twelve month high of $24.88. The stock’s fifty day moving average price is $22.17 and its two-hundred day moving average price is $22.06.
The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, January 3rd were given a $0.20 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $0.80 annualized dividend and a yield of 3.40%. Mack Cali Realty’s dividend payout ratio (DPR) is 43.72%.
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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