Brokerage Firm Rating Update on Mack-Cali Realty Corporation (CLI)

Mack-Cali Realty Corporation (CLI) : Zacks Investment Research ranks Mack-Cali Realty Corporation (CLI) as 3, which is a Hold recommendation. 1 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. Not everyone is convinced about the stocks future, hence, the stock receives 1 Sell recommendation. 1 more believe that the stock has more downside risks, hence they propose a Strong Sell. A total of 2 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 5 research analysts is 3.2, which indicates as a Hold.

Mack-Cali Realty Corporation (CLI) : The highest short term price target forecast on Mack-Cali Realty Corporation (CLI) is $30 and the lowest target price is $26. A total of 5 equity analysts are currently covering the company. The average price of all the analysts is $28 with a standard deviation of $1.41.


Company shares have received an average consensus rating of Hold for the current week Also, BTIG Research initiates coverage on Mack-Cali Realty Corporation (NYSE:CLI) The brokerage firm has issued a Neutral rating on the shares. The rating by the firm was issued on August 25, 2016.

Mack-Cali Realty Corporation (NYSE:CLI): The stock opened at $28.38 and touched an intraday high of $29.25 on Wednesday. During the day, the stock corrected to an intraday low of $28.249, however, the bulls stepped in and pushed the price higher to close in the green at $29.22 with a gain of 2.71% for the day. The total traded volume for the day was 1,116,747. The stock had closed at $28.45 in the previous trading session.

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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