Mack-Cali Realty Corporation (CLI) has been under a strong bear grip, hence the stock is down -0.84% 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 1.96% in the past 1 week. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 2.58% in the last 1 week, and is up 5.86% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Mack-Cali Realty Corporation (NYSE:CLI): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $27.71 and $27.71 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $28.34. The buying momentum continued till the end and the stock did not give up its gains. It closed at $28.20, notching a gain of 1.84% for the day. The total traded volume was 839,328 . The stock had closed at $27.69 on the previous day.
The stock has recorded a 20-day Moving Average of 3.03% and the 50-Day Moving Average is 5.92%. Mack-Cali Realty Corp. is up 13.93% in the last 3-month period. Year-to-Date the stock performance stands at 23.02%.
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.