Mack Cali Realty (NYSE:CLI) is set to release its Q2 2019 earnings data after the market closes on Wednesday, August 7th. Analysts expect Mack Cali Realty to post earnings of $0.41 per share for the quarter. Persons that wish to listen to the company’s earnings conference call can do so using this link.
CLI opened at $22.51 on Tuesday. The company has a market capitalization of $2.11 billion, a price-to-earnings ratio of 13.50 and a beta of 1.02. Mack Cali Realty has a 1-year low of $18.74 and a 1-year high of $24.88. The stock has a 50 day moving average price of $23.49. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 1.38.
The company also recently declared a quarterly dividend, which was paid on Friday, July 12th. Shareholders of record on Tuesday, July 2nd were given a $0.20 dividend. The ex-dividend date of this dividend was Monday, July 1st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.55%. Mack Cali Realty’s payout ratio is currently 43.72%.
In related news, Director Alan R. Batkin bought 2,000 shares of the stock in a transaction dated Wednesday, June 19th. The shares were purchased at an average price of $23.95 per share, with a total value of $47,900.00. Following the completion of the acquisition, the director now owns 2,000 shares of the company’s stock, valued at $47,900. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 6.83% of the stock is currently owned by insiders.
A number of research firms have weighed in on CLI. BTIG Research reiterated a “buy” rating and issued a $30.00 price target (up from $26.00) on shares of Mack Cali Realty in a research report on Thursday, June 13th. Deutsche Bank upped their price target on shares of Mack Cali Realty from $21.00 to $23.00 and gave the stock a “hold” rating in a research report on Wednesday, April 10th. ValuEngine lowered shares of Mack Cali Realty from a “buy” rating to a “hold” rating in a research report on Tuesday. Stifel Nicolaus upgraded shares of Mack Cali Realty from a “hold” rating to a “buy” rating and set a $21.73 price target for the company in a research report on Tuesday, April 16th. Finally, TheStreet upgraded shares of Mack Cali Realty from a “c” rating to a “b-” rating in a research report on Monday, May 6th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. Mack Cali Realty currently has an average rating of “Hold” and an average target price of $22.35.
Mack Cali Realty Company Profile
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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