Mack-Cali Realty Corporation (CLI) has been under a strong bear grip, hence the stock is down -2.61% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 1.54% in the past 1 week. The stock has risen by 1.51% in the past week indicating that the buyers are active at lower levels, but the stock is down -2.23% in the past 4 weeks.
Mack-Cali Realty Corp. is up 11.57% in the last 3-month period. Year-to-Date the stock performance stands at 20.27%. The stock has recorded a 20-day Moving Average of 0.28% and the 50-Day Moving Average is 0.76%.
Mack-Cali Realty Corporation (NYSE:CLI): The stock opened at $27.65 on Friday but the bulls could not build on the opening and the stock topped out at $27.65 for the day. The stock traded down to $27.05 during the day, due to lack of any buying support eventually closed down at $27.57 with a loss of -0.14% for the day. The stock had closed at $27.61 on the previous day. The total traded volume was 881,933 shares.
Also, In a research note released to the investors, Stifel Nicolaus maintains its rating on Mack-Cali Realty Corporation (NYSE:CLI).The analysts at the brokerage house have a current rating of Buy on the shares. In a recent information released to the investors, Stifel Nicolaus raises the new price target from $28 per share to $30 per share. The rating by the firm was issued on August 5, 2016.
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.