Trading was heavy with 1,275K shares changing hands in the last trading session. Shares saw a steep increase in trading volume of 77.31% over the normal average daily volume.
Investors are more bullish on shares of the company lately as implied by the motion in short interest. The company experienced a fall in short interest of -10.04% as of the latest report on October 13, 2017. Short interest decreased from 1,974,505 to 1,776,300 over that period. The days to cover increased to 5.0 and the short interest percentage is 0.02% as of October 13.
These firms have modified their investment in CLI. Tiaa Cref Investment Management LLC added to its position by buying 36,923 shares an increase of 12.6% in the quarter. Tiaa Cref Investment Management LLC claims 329,424 shares worth $7,811,000. The value of the position overall is down by 1.6%. Numeric Investors LLC expanded its ownership by buying 969,100 shares an increase of 2,386.9% as of 09/30/2017. Numeric Investors LLC now holds 1,009,700 shares with a value of $23,940,000. The total value of its holdings increased 2,072.4%.
As of quarter end Schwab Charles Investment Management Inc had acquired a total of 26,457 shares growing its position 2.3%. The value of the investment in Mack-Cali Realty Corp decreased from $30,849,000 to $27,578,000 a change of 10.6% since the last quarter. As of the end of the quarter Renaissance Technologies LLC had bought 465,799 shares growing its stake by 27.7%. The value of the investment in CLI went from $45,655,000 to $50,929,000 a change of $5,274,000 quarter over quarter.
Equity analyst Citigroup lowered the price target on September 21 changing the forecast from $27.50 to $26.00 with a “Neutral” recommendation.
On September 21 Stifel Nicolaus left the stock rating at “Buy” projecting a price of $30.00.
Barclays PLC lowered the price target on August 18 cutting the projection from $28.00 to $24.00 and stated a “Underweight” rating. August 9 investment analysts at Evercore ISI left the company rating at “Outperform” targeting a price of $29.00.
The company is trading up from yesterday’s close of 22.53. Mack-Cali Realty Corp currently has a P/E ratio of 99.16 and market capitalization is 2.03B. In the last earnings report the EPS was $0.23 with 89.91M shares outstanding.
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..