Northern Trust Corp Sells 7,818 Shares of Mack Cali Realty Corp (CLI)

Northern Trust Corp trimmed its holdings in shares of Mack Cali Realty Corp (NYSE:CLI) by 0.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,638,418 shares of the real estate investment trust’s stock after selling 7,818 shares during the period. Northern Trust Corp owned about 2.92% of Mack Cali Realty worth $53,507,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. State of Alaska Department of Revenue lifted its position in shares of Mack Cali Realty by 89.9% during the second quarter. State of Alaska Department of Revenue now owns 7,424 shares of the real estate investment trust’s stock worth $150,000 after purchasing an additional 3,514 shares in the last quarter. Point72 Hong Kong Ltd lifted its position in shares of Mack Cali Realty by 729.3% during the second quarter. Point72 Hong Kong Ltd now owns 8,973 shares of the real estate investment trust’s stock worth $182,000 after purchasing an additional 7,891 shares in the last quarter. Verition Fund Management LLC acquired a new position in shares of Mack Cali Realty during the second quarter worth $284,000. Laurion Capital Management LP acquired a new position in shares of Mack Cali Realty during the second quarter worth $308,000. Finally, Envestnet Asset Management Inc. lifted its position in shares of Mack Cali Realty by 32.7% during the first quarter. Envestnet Asset Management Inc. now owns 15,668 shares of the real estate investment trust’s stock worth $262,000 after purchasing an additional 3,860 shares in the last quarter. 98.95% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:CLI opened at $19.99 on Thursday. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.83 and a quick ratio of 0.83. The firm has a market capitalization of $1.92 billion, a P/E ratio of 8.96 and a beta of 1.19. Mack Cali Realty Corp has a 12-month low of $15.86 and a 12-month high of $23.99.



Mack Cali Realty (NYSE:CLI) last issued its quarterly earnings results on Wednesday, August 1st. The real estate investment trust reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.49). The company had revenue of $126.58 million during the quarter, compared to the consensus estimate of $133.28 million. Mack Cali Realty had a return on equity of 4.70% and a net margin of 13.89%. The firm’s quarterly revenue was down 90.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.60 EPS. Equities research analysts predict that Mack Cali Realty Corp will post 1.86 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 12th. Investors of record on Tuesday, October 2nd will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, October 1st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.00%. Mack Cali Realty’s dividend payout ratio (DPR) is presently 35.87%.

A number of research analysts have recently commented on CLI shares. Citigroup boosted their target price on shares of Mack Cali Realty from $18.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, June 28th. Deutsche Bank boosted their target price on shares of Mack Cali Realty from $21.00 to $22.00 and gave the stock a “hold” rating in a research report on Wednesday, August 29th. ValuEngine cut shares of Mack Cali Realty from a “hold” rating to a “sell” rating in a research report on Thursday, September 27th. Stifel Nicolaus reduced their target price on shares of Mack Cali Realty from $23.00 to $21.00 and set a “hold” rating on the stock in a research report on Tuesday, September 25th. Finally, Zacks Investment Research cut shares of Mack Cali Realty from a “hold” rating to a “sell” rating in a research report on Monday, July 9th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $22.40.

In related news, EVP Robert Andrew Marshall sold 1,426 shares of Mack Cali Realty stock in a transaction on Monday, September 10th. The shares were sold at an average price of $21.28, for a total value of $30,345.28. Following the completion of the sale, the executive vice president now owns 1,426 shares in the company, valued at $30,345.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 6.83% of the stock is currently owned by insiders.

Mack Cali Realty Profile

Mack-Cali Realty Corporation is fully-integrated and self-managed company, Mack-Cali has provided world-class management, leasing, and development services throughout New Jersey and the surrounding region for two decades. By regularly investing in its properties and innovative lifestyle amenity packages, Mack-Cali creates environments that empower tenants and residents to reimagine the way they work and live.

Further Reading: How to Invest in the Dividend Aristocrat Index

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Institutional Ownership by Quarter for Mack Cali Realty (NYSE:CLI)

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