First Mercantile Trust Co. Decreases Stake in Mack Cali Realty Corp (CLI)

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.



Mack Cali Realty (NYSE:CLI) last released its earnings results on Wednesday, February 20th. The real estate investment trust reported $0.45 earnings per share for the quarter, hitting the consensus estimate of $0.45. Mack Cali Realty had a return on equity of 15.99% and a net margin of 53.15%. The firm had revenue of $132.94 million during the quarter, compared to analysts’ expectations of $133.43 million. During the same period in the prior year, the company earned $0.50 earnings per share. The company’s quarterly revenue was down 7.4% on a year-over-year basis. As a group, analysts predict that Mack Cali Realty Corp will post 1.63 EPS for the current fiscal year.

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.

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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.

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

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