Evercore ISI Group Upgrades Mack Cali Realty Corp to Buy

Brokerage firm Evercore ISI Group Upgrades its rating on Mack Cali Realty Corp(NYSE:CLI). The shares have been rated Buy. Previously, the analysts had a Hold rating on the shares. The rating by Evercore ISI Group was issued on Sep 19, 2016.

In a different note, BTIG Research said it Initiates Coverage on Mack Cali Realty Corp, according to a research note issued on Aug 25, 2016. The shares have been rated ‘Neutral’ by the firm. On Aug 5, 2016, Stifel Nicolaus said it Maintains its rating on Mack Cali Realty Corp. In the research note, the firm Raises the price-target to $28.00 per share. The shares have been rated ‘Buy’ by the firm. On Jul 19, 2016, Barclays said it Maintains its rating on Mack Cali Realty Corp. In the research note, the firm Raises the price-target to $26.00 per share. The shares have been rated ‘Underweight’ by the firm. On Jul 7, 2016, Citigroup said it Maintains its rating on Mack Cali Realty Corp. In the research note, the firm Raises the price-target to $29.50 per share. The shares have been rated ‘Buy’ by the firm.

Mack Cali Realty Corp (CLI) made into the market gainers list on Thursdays trading session with the shares advancing 2.39% or 0.65 points. Due to strong positive momentum, the stock ended at $27.85, which is also near the day’s high of $28.11. The stock began the session at $27.5 and the volume stood at 7,44,162 shares. The 52-week high of the shares is $29.25 and the 52 week low is $17.35. The company has a current market capitalization of $2,497 M and it has 8,96,50,891 shares in outstanding.

Mack Cali Realty Corp(CLI) last announced its earnings results on Aug 2, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $149.23M. Analysts had an estimated revenue of $156.82M. Earnings per share were $0.55. Analysts had estimated an EPS of $0.53.

Several Insider Transactions has been reported to the SEC. On Feb 5, 2016, Ricardo Cardoso (EVP & Chief Investment Officer) purchased 23,000 shares at $19.54 per share price.Also, On Sep 30, 2015, Jonathan Litt (director) purchased 130,500 shares at $19.08 per share price.

Mack-Cali Realty Corporation is a self-administered and self-managed real estate investment trust (REIT). The Company owns and operates a real estate portfolio of Class A office and office/flex and multi-family rental properties located primarily in the Northeast. The Company operates through three segments: commercial and other real estate multi-family real estate and multi-family services. It provides leasing property management acquisition development construction and tenant-related services for its commercial and other real estate and multi-family real estate portfolio. The Company holds interests in approximately 283 properties consisting of around 264 commercial properties totaling approximately 31.0 million square feet leased to approximately 2000 commercial tenants; around 19 multi-family rental properties containing 5484 residential units and developable land. The properties are located in seven states primarily in the Northeast and the District of Columbia.

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