The stock of Mack Cali Realty Corp (CLI) shows a multiple tops pattern with $30.69 target or 8.00% above today’s $28.42 share price. The 9 months chart pattern indicates low risk for the $2.55B company. It was reported on Jan, 11 by Finviz.com. If the $30.69 price target is reached, the company will be worth $204.00 million more.
Multiple tops are chart patterns with decent performance in a bull market. The failure rate is higher but the average decline is reasonable. Back-tests of such patterns show that the break even failure rate is 10%, the average rise: 19%, the throwback rate: 61% and the percentage of stocks meeting their price targets: 40%. About 25,813 shares traded hands. Mack Cali Realty Corp (NYSE:CLI) has risen 7.41% since June 7, 2016 and is uptrending. It has underperformed by 0.01% the S&P500.
Analysts await Mack Cali Realty Corp (NYSE:CLI) to report earnings on February, 22. They expect $0.54 earnings per share, up 14.89% or $0.07 from last year’s $0.47 per share. CLI’s profit will be $48.45M for 13.16 P/E if the $0.54 EPS becomes a reality. After $0.56 actual earnings per share reported by Mack Cali Realty Corp for the previous quarter, Wall Street now forecasts -3.57% negative EPS growth.
Mack Cali Realty Corp (NYSE:CLI) Ratings Coverage
Out of 8 analysts covering Mack Cali Realty Corp (NYSE:CLI), 3 rate it a “Buy”, 1 “Sell”, while 4 “Hold”. This means 38% are positive. $28 is the highest target while $20 is the lowest. The $24.86 average target is -12.53% below today’s ($28.42) stock price. Mack Cali Realty Corp has been the topic of 24 analyst reports since August 14, 2015 according to StockzIntelligence Inc. The firm earned “Buy” rating on Friday, September 11 by Citigroup. On Monday, August 24 the stock rating was upgraded by Zacks to “Hold”. Deutsche Bank maintained the stock with “Hold” rating in Monday, May 16 report. Barclays Capital maintained the shares of CLI in a report on Tuesday, July 19 with “Underweight” rating. The stock of Mack Cali Realty Corp (NYSE:CLI) has “Buy” rating given on Friday, August 14 by Zacks. The rating was upgraded by JP Morgan on Friday, December 16 to “Overweight”. The stock of Mack Cali Realty Corp (NYSE:CLI) earned “Hold” rating by Deutsche Bank on Monday, July 18. Stifel Nicolaus maintained the stock with “Buy” rating in Monday, January 18 report. Zacks upgraded Mack Cali Realty Corp (NYSE:CLI) on Monday, August 17 to “Hold” rating. The firm has “Neutral” rating by Citigroup given on Friday, December 9.
According to Zacks Investment Research, “Mack-Cali Realty Corp. is a fully-integrated, self-administered and self-managed real estate investment trust that owns and operates a portfolio comprised predominantly of Class A office and office/flex properties located primarily in the Northeast, as well as commercial real estate leasing, management, acquisition, development and construction businesses.”
Insitutional Activity: The institutional sentiment decreased to 0.99 in Q3 2016. Its down 0.12, from 1.11 in 2016Q2. The ratio turned negative, as 26 funds sold all Mack Cali Realty Corp shares owned while 74 reduced positions. 30 funds bought stakes while 69 increased positions. They now own 91.27 million shares or 0.59% less from 91.82 million shares in 2016Q2.
Texas Permanent School Fund, a Texas-based fund reported 68,295 shares. Cubist Systematic Strategies Ltd Company, a Connecticut-based fund reported 12,787 shares. Commonwealth Of Pennsylvania Pub School Empls Retrmt accumulated 0.01% or 13,261 shares. Comerica Bancshares owns 61,914 shares or 0.01% of their US portfolio. Quantbot Tech L P reported 4,525 shares or 0.01% of all its holdings. Ny State Teachers Retirement Systems last reported 0.01% of its portfolio in the stock. Forward Mngmt Limited Liability Corp accumulated 1.52% or 734,000 shares. Gemmer Asset Mngmt Ltd last reported 0% of its portfolio in the stock. Ellington Mngmt Limited Liability Co holds 0.07% or 9,100 shares in its portfolio. Moreover, Blackrock Fund Advisors has 0.03% invested in Mack Cali Realty Corp (NYSE:CLI) for 5.22 million shares. Joel Isaacson Ltd has 650 shares for 0% of their US portfolio. Invesco holds 431,392 shares or 0% of its portfolio. Nomura Asset Management Limited has 0.03% invested in the company for 56,800 shares. Moreover, American Gp has 0% invested in Mack Cali Realty Corp (NYSE:CLI) for 221,962 shares. Moreover, Blackrock Invest Mgmt Limited Liability Com has 0.02% invested in Mack Cali Realty Corp (NYSE:CLI) for 590,487 shares.
CLI Company Profile
Mack-Cali Realty Corporation, incorporated on May 24, 1994, is a self-administered and self-managed real estate investment trust (REIT). The Firm owns and operates a real estate portfolio of Class A office and office/flex properties located primarily in the Northeast. The Company’s divisions include commercial and other real estate, multi-family real estate, multi-family services, and corporate & other. 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. It is engaged in real estate leasing, management, acquisition, development and construction services on an in-house basis. The Firm owns or has interests in approximately 270 properties, consisting of approximately 150 office and over 110 flex properties, totaling approximately 29.9 million square feet, leased to approximately 1,900 commercial tenants and over 20 multi-family rental properties containing approximately 5,640 residential units, plus developable land (collectively, the Properties). The properties are located in over seven states, primarily in the Northeast and the District of Columbia.
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