It is currently trading at $26.25 marginally under the 50 day moving average which is $27.35 and just a bit lower than the 200 day moving average of $27.81. The 50 day moving average moved down $-1.17 and the 200 day average went down $-1.63 or -5.85%. Trading was light with 526K shares changing hands in the last trading session. Shares saw a steep decrease in trading volume of 11.40% under the normal average daily volume.
Here is the rundown on market activity for Mack-Cali Realty Corporation (NYSE:CLI). Ricardo Cardoso, EVP & Chief Investment Officer bought $449,420 worth of shares at an average price of $19.54 on Thu the 4th. The EVP & Chief Investment Officer now owns $683,900 of the stock as reported to the SEC. Nathan Gantcher, Director sold $60,496 worth of shares at an average price of $20.50 on Mon the 28th. That brings Gantcher’s holdings to $0 as recorded in a recent Form 4 SEC filing.
These funds have also shifted positions in (CLI). Gateway Investment Advisers LLC bolstered its position by buying 38,758 shares an increase of 34.7%. Gateway Investment Advisers LLC currently owns 150,306 shares worth $4,079,000. The total value of its holdings increased 35.7%. Bank Of Montreal /can/ divested its investment by selling 24,851 shares a decrease of 98.6% in the quarter. Bank Of Montreal /can/ controls 349 shares valued at $9,000. The value of the position overall is down by 98.7%.
Nomura Asset Management Co Ltd reduced its stake by shedding 290 shares a decrease of 0.5% as of 03/31/2017. Nomura Asset Management Co Ltd claims 59,640 shares with a value of $1,607,000. The value of the position overall is down by 7.6%. As of quarter end Clearbridge Investments, LLC had disposed of a total of 730 shares trimming its holdings by 3.4%. The value of the investment in (CLI) went from $628,000 to $563,000 decreasing 10.4% quarter to quarter.
On September 19 the company was upgraded from “” to “Buy” in a report issued by Evercore ISI Group. On August 25 analysts at BTIG Research initiated coverage giving it an initial rating of “Neutral”.
July 19 investment analysts at Barclays held the company rating at “Hold” but moved up the price target to $28.00 from $22.00. On July 18 Deutsche Bank held the stock rating at “Hold” and raised the price expectation from $25.00 to $28.00.
July 7 investment analysts at Citigroup made no change to the stock rating of “Buy” and moved up the price target to $31.50 from $24.00. On May 16 Deutsche Bank kept the company rating at “Hold” but raised the price target from $22.00 to $25.00.
In the market the company is trading up by 1.12% since yesterday’s close of $25.96. Additionally the company recently declared a dividend to be paid on Friday the 14th of July 2017. The dividend will be $0.200 per share for the quarter which is $0.80 annualized. This dividend amount will represent a yeild of $2.99. The ex-dividend date will be on Monday the 3rd of April 2017.
Mack-Cali Realty Corporation’s P/E ratio is 36.26 and the market cap of the company is 2.35B. As of the latest earnings report the EPS was $0.72 and is projected to be $0.23 for the current year with 89,781,000 shares now outstanding. Next quarter’s EPS is forecasted to be $0.02 and the next full year EPS is projected to be $0.17.
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..