Geode Capital Management LLC boosted its stake in Mack Cali Realty Corp (NYSE:CLI) by 6.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,233,597 shares of the real estate investment trust’s stock after acquiring an additional 79,521 shares during the period. Geode Capital Management LLC owned 1.37% of Mack Cali Realty worth $24,166,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new stake in Mack Cali Realty during the 4th quarter valued at about $22,824,000. Municipal Employees Retirement System of Michigan purchased a new stake in shares of Mack Cali Realty during the 4th quarter valued at about $425,000. Metropolitan Life Insurance Co. NY boosted its holdings in shares of Mack Cali Realty by 66.0% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 57,921 shares of the real estate investment trust’s stock valued at $1,135,000 after acquiring an additional 23,024 shares during the last quarter. Nuveen Asset Management LLC purchased a new stake in shares of Mack Cali Realty during the 4th quarter valued at about $1,815,000. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp boosted its holdings in shares of Mack Cali Realty by 36.6% during the 4th quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 62,675 shares of the real estate investment trust’s stock valued at $1,228,000 after acquiring an additional 16,778 shares during the last quarter. 92.72% of the stock is currently owned by institutional investors and hedge funds.
CLI has been the topic of a number of recent analyst reports. TheStreet raised shares of Mack Cali Realty from a “c” rating to a “b-” rating in a report on Monday, May 6th. Stifel Nicolaus raised shares of Mack Cali Realty from a “hold” rating to a “buy” rating and set a $21.73 price objective on the stock in a report on Tuesday, April 16th. BTIG Research upgraded shares of 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. Zacks Investment Research raised shares of Mack Cali Realty from a “sell” rating to a “hold” rating and set a $19.00 price objective for the company in a research note on Tuesday, May 28th. Finally, Deutsche Bank lifted their price objective on shares of Mack Cali Realty from $21.00 to $23.00 and gave the stock a “hold” rating in a research note on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. Mack Cali Realty currently has an average rating of “Hold” and a consensus price target of $22.35.
Shares of CLI traded down $0.05 during trading hours on Monday, reaching $23.24. 601,893 shares of the company traded hands, compared to its average volume of 443,473. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 1.38. The stock has a fifty day moving average of $23.14. The stock has a market capitalization of $2.10 billion, a price-to-earnings ratio of 12.70 and a beta of 1.02. Mack Cali Realty Corp has a 12-month low of $18.74 and a 12-month high of $24.88.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Tuesday, July 2nd will be issued a $0.20 dividend. The ex-dividend date is Monday, July 1st. This represents a $0.80 dividend on an annualized basis and a yield of 3.44%. Mack Cali Realty’s dividend payout ratio is presently 43.72%.
About Mack Cali Realty
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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