Analyst Rating Update on Mack-Cali Realty Corporation (CLI)

Mack-Cali Realty Corporation (NYSE:CLI) : The consensus on Mack-Cali Realty Corporation (NYSE:CLI) based on 6 analyst recommendation on the company stock is 3.17, which is interpreted as a Hold recommendation. Zacks Investment Research has issued a rank of 2 which endorses a Buy on the stock. However, 1 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 3 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating. 1 analyst sees the stock overvalued at current levels and advises a Strong Sell on the stock. 1 analyst also believes that the downside risk to the stock is higher and suggests a Sell on Mack-Cali Realty Corporation (NYSE:CLI).

Mack-Cali Realty Corporation (NYSE:CLI) : The highest level Mack-Cali Realty Corporation (NYSE:CLI) is projected to reach is $28 for the short term and the lowest estimate is at $19. The consolidated price target from 6 rating analysts who initiate coverage on the stock is $25 and the possibility the share price can swing is $3.16.

Company shares have received an average consensus rating of Hold for the current week Also, Major Brokerage house, Deutsche Bank maintains its ratings on Mack-Cali Realty Corporation (NYSE:CLI). In the latest research report, Deutsche Bank raises the target price from $22 per share to $25 per share. According to the latest information available, the shares are now rated Hold by the analysts at the agency. The rating by the firm was issued on May 16, 2016.

Mack-Cali Realty Corporation (NYSE:CLI): stock turned positive on Tuesday. Though the stock opened at $25.81, the bulls momentum made the stock top out at $26.21 level for the day. The stock recorded a low of $25.6701 and closed the trading day at $26.05, in the green by 1.56%. The total traded volume for the day was 915,245. The stock had closed at $25.65 in the previous days trading.

In an insider trading activity, Cardoso Ricardo, officer (EVP & Chief Investment Officer) of Mack Cali Realty Corp, had purchased 23,000 shares on February 4, 2016. The total value of the transaction was $449,420. The information was disclosed with the SEC in a Form 4 Filing. The information is based on open market trades at the market prices.Option exercises are not covered.

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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