Mack-Cali Realty Corporation (NYSE:CLI):
Mack-Cali Realty Corporation Declares Increased Quarterly Cash Dividend.
In the market the company is trading up by 2.14% since yesterday’s close of $27.04.
The company declared a dividend that was paid on Thursday April 13th, 2017. The dividend was $0.150 per share for the quarter which is $0.60 annualized. This dividend represents a yield of $2.22. The ex-dividend date was Monday the 3rd of April 2017.
Mack-Cali Realty Corporation, launched on May 24, 1994, together with its subsidiaries, 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 located in the Northeast. The Company operates in three segments: commercial and other real estate, multi-family real estate and multi-family services. Its commercial and other real estate provides leasing, property management, acquisition, development, construction and tenant-related services for its commercial and other real estate, and multi-family real estate portfolio. Its multi-family services business also provides similar services for third parties. As of December 31, 2016, the Company owned or had interests in 248 properties, consisting of 119 office and 110 flex properties, totaling approximately 26.6 million square feet, leased to approximately 1,600 commercial tenants and 19 multi-family rental properties containing 5,614 residential units, plus developable land (collectively, the Properties). As of December 31, 2016, the Properties are located in six states, in the Northeast, and the District of Columbia..
Company shares last traded at $27.62 barely above the 50 day moving average of $27.16 and just a bit lower than the 200 day moving average of $27.76. The 50 day moving average was up by +1.71% whereas the 200 day moving average was down $-0.14 or -0.51%.
Mack-Cali Realty Corporation currently has a P/E ratio of 38.25 and the market cap of the company is 2.48B. In the last earnings report the EPS was $0.72 and is estimated to be $0.23 for the current year with 89,781,000 shares presently outstanding. Next quarter’s EPS is expected be $0.02 and the next full year EPS is anticipated to be $0.17.
Several investment analysts have released ratings on CLI. On September 19 the company was rated “Buy” in a report from Evercore ISI Group up from the previous “” rating. On August 25 analysts at BTIG Research initiated coverage by announcing an initial rating of “Neutral”.
July 19 investment analysts at Barclays kept the stock rating at “Hold” but moved up the price target from $22.00 to $28.00. On July 18 Deutsche Bank maintained a stock rating of “Hold” but raised the price target to $28.00 from $25.00.
July 7 investment analysts at Citigroup held the stock rating at “Buy” and raised the price expectation to $31.50 from $24.00. On May 16 Deutsche Bank left the stock rating at “Hold” and raised the price target to $25.00 from $22.00.