Chevy Chase Trust Holdings Inc. decreased its position in shares of Mack-Cali Realty Corporation (NYSE:CLI) by 22.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 77,200 shares of the real estate investment trust’s stock after selling 22,800 shares during the period. Chevy Chase Trust Holdings Inc. owned 0.09% of Mack-Cali Realty Corporation worth $2,095,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in the stock. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Mack-Cali Realty Corporation by 0.9% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,493 shares of the real estate investment trust’s stock worth $128,000 after buying an additional 39 shares during the last quarter. Norges Bank bought a new stake in shares of Mack-Cali Realty Corporation during the fourth quarter worth about $25,602,000. Teachers Advisors LLC increased its stake in shares of Mack-Cali Realty Corporation by 27.4% in the fourth quarter. Teachers Advisors LLC now owns 201,726 shares of the real estate investment trust’s stock worth $5,854,000 after buying an additional 43,329 shares during the last quarter. Highbridge Capital Management LLC bought a new stake in shares of Mack-Cali Realty Corporation during the fourth quarter worth about $1,482,000. Finally, Macquarie Group Ltd. increased its stake in shares of Mack-Cali Realty Corporation by 2.3% in the fourth quarter. Macquarie Group Ltd. now owns 1,747,832 shares of the real estate investment trust’s stock worth $50,722,000 after buying an additional 39,217 shares during the last quarter. 98.56% of the stock is currently owned by hedge funds and other institutional investors.
Mack-Cali Realty Corporation (CLI) traded down 1.65% during midday trading on Friday, reaching $23.29. 680,012 shares of the company’s stock were exchanged. The firm’s 50 day moving average is $25.72 and its 200 day moving average is $27.12. The firm’s market capitalization is $2.09 billion. Mack-Cali Realty Corporation has a 52 week low of $23.12 and a 52 week high of $29.70.
Mack-Cali Realty Corporation (NYSE:CLI) last released its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $0.60 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by $0.01. Mack-Cali Realty Corporation had a negative return on equity of 1.21% and a negative net margin of 3.31%. The company had revenue of $162.77 million during the quarter, compared to analysts’ expectations of $150.94 million. During the same quarter in the prior year, the company posted $0.55 EPS. On average, equities analysts anticipate that Mack-Cali Realty Corporation will post $0.04 earnings per share for the current year.
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CLI has been the topic of a number of research reports. Barclays PLC dropped their price objective on shares of Mack-Cali Realty Corporation from $29.00 to $28.00 and set an “underweight” rating on the stock in a report on Tuesday, July 18th. BidaskClub raised shares of Mack-Cali Realty Corporation from a “sell” rating to a “hold” rating in a report on Saturday, June 17th. Deutsche Bank AG raised their price objective on shares of Mack-Cali Realty Corporation from $28.00 to $29.00 and gave the stock a “hold” rating in a report on Thursday, May 25th. Finally, Evercore ISI reissued an “outperform” rating and issued a $29.00 price objective (down previously from $33.00) on shares of Mack-Cali Realty Corporation in a report on Wednesday, August 9th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $29.33.
About Mack-Cali Realty Corporation
Mack-Cali Realty Corporation 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. It operates in three segments: commercial and other real estate, multi-family real estate and multi-family services.
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