Mack-Cali Realty Corporation (CLI) Receives Price Target

Mack-Cali Realty Corporation (CLI) : 5 investment research analysts covering Mack-Cali Realty Corporation (CLI) have an average price target of $28 for the near short term. The highest target price given by the Brokerage Firm to the stock is $30 and the lowest target is $26 for the short term. Analysts expect the variance to be within $1.41 of the average price.

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.


Also, BTIG Research initiates coverage on Mack-Cali Realty Corporation (NYSE:CLI). The shares have now been rated Neutral by the stock experts at the ratings house. The rating by the firm was issued on August 25, 2016.

Mack-Cali Realty Corporation (NYSE:CLI): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $27.78 and $27.51 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $27.97. The buying momentum continued till the end and the stock did not give up its gains. It closed at $27.84, notching a gain of 0.29% for the day. The total traded volume was 458,418 . The stock had closed at $27.76 on the previous day.

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.

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