Mack-Cali Realty Corp. (NYSE:CLI) had its price target decreased by JPMorgan Chase & Co. from $27.00 to $26.00 in a research report sent to investors on Friday morning, AmericanBankingNews.com reports. The firm currently has a neutral rating on the stock.
Shares of Mack-Cali Realty Corp. (NYSE:CLI) traded down 0.94% on Friday, hitting $21.17. The stock had a trading volume of 35,001 shares. Mack-Cali Realty Corp. has a 52 week low of $20.71 and a 52 week high of $29.39. The stock’s 50-day moving average is $22.23 and its 200-day moving average is $25.66. The company has a market cap of $1.863 billion and a P/E ratio of 62.30.
Mack-Cali Realty Corp. (NYSE:CLI) last released its earnings data on Thursday, October 24th. The company reported $0.57 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.58 by $0.01. The company had revenue of $162.51 million for the quarter, compared to the consensus estimate of $176.73 million. During the same quarter last year, the company posted $0.65 earnings per share. Mack-Cali Realty Corp.’s revenue was up 3.6% compared to the same quarter last year. On average, analysts predict that Mack-Cali Realty Corp. will post $2.40 earnings per share for the current fiscal year.
CLI has been the subject of a number of other recent research reports. Analysts at Cowen and Company cut their price target on shares of Mack-Cali Realty Corp. from $30.00 to $25.00 in a research note to investors on Thursday, September 12th. They now have an outperform rating on the stock. Separately, analysts at Zacks downgraded shares of Mack-Cali Realty Corp. from a neutral rating to an underperform rating in a research note to investors on Wednesday, August 28th. They now have a $20.00 price target on the stock. Finally, analysts at Barclays cut their price target on shares of Mack-Cali Realty Corp. from $23.00 to $22.00 in a research note to investors on Monday, August 26th. They now have an equal weight rating on the stock. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $25.17.
Mack-Cali Realty Corporation is a self-administered and self-managed real estate investment trust (NYSE:CLI), which owns and operates a real estate portfolios consisted of Class A office and office/flex properties located in the Northeast.
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