Mack-Cali Realty Corporation (CLI) : 5 analysts are covering Mack-Cali Realty Corporation (CLI) and their average rating on the stock is 3.2, which is read as a Hold. 1 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. A Zacks Investment Research rank of 3, which recommends a Hold affirms that they expect a large upside in the stock from the current levels. However, 1 analysts consider that the stock has more downward risks ahead, hence, they suggest a Strong Sell on the stock. 1 more analyst has given the stock a Sell recommendation. A total of 2 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.
Mack-Cali Realty Corporation (CLI) : The consensus price target for Mack-Cali Realty Corporation (CLI) is $28.2 for the short term with a standard deviation of $1.1. The most optimist securities analyst among the 5 who monitor the stock believes that the stock can reach $30, however, the pessimist price target for the company is $27.
Also, BTIG Research initiates coverage on Mack-Cali Realty Corporation (NYSE:CLI).The analysts at the brokerage house have a current rating of Neutral on the shares. The rating by the firm was issued on August 25, 2016.
Mack-Cali Realty Corporation (NYSE:CLI): The stock opened in the green at $26.46 on Thursday, but the bulls found it difficult to push the prices higher. The stock reached a high of $26.6825 and a low of $26.35 for the day. The stock did not find buyers even at the lows and closed at $26.46 recording a loss of -0.15%. 603,102 shares exchanged hands during the trading day. The stock had closed at $26.5 in the previous days trading.
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 2,000 commercial tenants; around 19 multi-family rental properties containing 5,484 residential units, and developable land. The properties are located in seven states, primarily in the Northeast, and the District of Columbia.