First Mercantile Trust Co. decreased its position in Mack Cali Realty Corp (NYSE:CLI) by 29.7% during the 1st quarter, Holdings Channel reports. The firm owned 3,225 shares of the real estate investment trust’s stock after selling 1,360 shares during the period. First Mercantile Trust Co.’s holdings in Mack Cali Realty were worth $72,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently bought and sold shares of the company. Oregon Public Employees Retirement Fund grew its position in Mack Cali Realty by 1,859.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 698,717 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 663,050 shares in the last quarter. PNC Financial Services Group Inc. grew its position in Mack Cali Realty by 39.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,954 shares of the real estate investment trust’s stock worth $96,000 after buying an additional 1,410 shares in the last quarter. Dupont Capital Management Corp acquired a new stake in Mack Cali Realty during the fourth quarter worth approximately $159,000. Janney Montgomery Scott LLC acquired a new stake in Mack Cali Realty during the first quarter worth approximately $210,000. Finally, Daiwa Securities Group Inc. grew its position in Mack Cali Realty by 7.8% during the fourth quarter. Daiwa Securities Group Inc. now owns 13,900 shares of the real estate investment trust’s stock worth $272,000 after buying an additional 1,000 shares in the last quarter. 93.63% of the stock is currently owned by institutional investors.
NYSE CLI opened at $22.32 on Friday. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.62 and a quick ratio of 0.62. Mack Cali Realty Corp has a fifty-two week low of $18.23 and a fifty-two week high of $23.78. The firm has a market cap of $2.02 billion, a price-to-earnings ratio of 12.20 and a beta of 1.11.
CLI has been the topic of a number of analyst reports. Stifel Nicolaus raised Mack Cali Realty from a “hold” rating to a “buy” rating and set a $21.73 price target on the stock in a research report on Tuesday, April 16th. ValuEngine raised Mack Cali Realty from a “hold” rating to a “buy” rating in a research report on Friday, February 8th. BTIG Research raised Mack Cali Realty from a “neutral” rating to a “buy” rating and set a $26.00 price target on the stock in a research report on Tuesday, March 19th. TheStreet raised Mack Cali Realty from a “c” rating to a “b-” rating in a research report on Monday, May 6th. Finally, Zacks Investment Research cut Mack Cali Realty from a “hold” rating to a “strong sell” rating in a research note on Monday, April 29th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $21.75.
ILLEGAL ACTIVITY NOTICE: This story was reported by Dakota Financial News and is the property of of Dakota Financial News. If you are reading this story on another domain, it was illegally copied and republished in violation of US & international copyright laws. The original version of this story can be read at https://dakotafinancialnews.com/2019/05/24/first-mercantile-trust-co-decreases-stake-in-mack-cali-realty-corp-cli.html.
Mack Cali Realty 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.
Recommended Story: What is the Beige Book?
Want to see what other hedge funds are holding CLI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mack Cali Realty Corp (NYSE:CLI).
Receive News & Ratings for Mack Cali Realty Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mack Cali Realty and related companies with MarketBeat.com's FREE daily email newsletter.