HGI Capital Management LLC Decreases Stake in Mack Cali Realty Corp (NYSE:CLI)

HGI Capital Management LLC reduced its stake in Mack Cali Realty Corp (NYSE:CLI) by 1.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 169,952 shares of the real estate investment trust’s stock after selling 2,873 shares during the quarter. Mack Cali Realty comprises about 1.8% of HGI Capital Management LLC’s portfolio, making the stock its 20th largest holding. HGI Capital Management LLC owned about 0.19% of Mack Cali Realty worth $3,958,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Marshall Wace North America L.P. raised its position in shares of Mack Cali Realty by 35.9% in the 1st quarter. Marshall Wace North America L.P. now owns 3,408 shares of the real estate investment trust’s stock valued at $76,000 after purchasing an additional 900 shares during the last quarter. Janney Montgomery Scott LLC purchased a new position in shares of Mack Cali Realty in the 1st quarter valued at approximately $210,000. Amica Retiree Medical Trust purchased a new position in shares of Mack Cali Realty in the 1st quarter valued at approximately $238,000. Fox Run Management L.L.C. purchased a new position in shares of Mack Cali Realty in the 2nd quarter valued at approximately $257,000. Finally, Virginia Retirement Systems ET AL purchased a new position in shares of Mack Cali Realty in the 2nd quarter valued at approximately $296,000. 92.64% of the stock is owned by hedge funds and other institutional investors.

CLI traded down $0.02 during trading on Tuesday, reaching $22.49. 11,489 shares of the company’s stock were exchanged, compared to its average volume of 370,393. Mack Cali Realty Corp has a 1 year low of $18.74 and a 1 year high of $24.88. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.62 and a quick ratio of 0.62. The stock has a market capitalization of $2.05 billion, a PE ratio of 12.25 and a beta of 1.02. The stock has a fifty day moving average of $23.49.

The firm also recently declared a quarterly dividend, which was paid on Friday, July 12th. Shareholders of record on Tuesday, July 2nd were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date of this dividend was Monday, July 1st. Mack Cali Realty’s dividend payout ratio is presently 43.72%.

Several equities analysts recently commented on CLI shares. Deutsche Bank increased their price objective on shares of Mack Cali Realty from $21.00 to $23.00 and gave the company a “hold” rating in a research report on Wednesday, April 10th. Zacks Investment Research raised shares of Mack Cali Realty from a “sell” rating to a “hold” rating and set a $19.00 price target for the company in a research report on Tuesday, May 28th. ValuEngine lowered shares of Mack Cali Realty from a “buy” rating to a “hold” rating in a research report on Tuesday. BTIG Research reissued a “buy” rating and set a $30.00 price target (up from $26.00) on shares of Mack Cali Realty in a research report on Thursday, June 13th. Finally, Stifel Nicolaus raised shares of Mack Cali Realty from a “hold” rating to a “buy” rating and set a $21.73 price target for the company in a research report on Tuesday, April 16th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $22.35.

In other Mack Cali Realty news, Director Alan R. Batkin purchased 2,000 shares of Mack Cali Realty stock in a transaction on Wednesday, June 19th. The stock was bought at an average cost of $23.95 per share, with a total value of $47,900.00. Following the transaction, the director now owns 2,000 shares of the company’s stock, valued at approximately $47,900. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 6.83% of the company’s stock.

Mack Cali Realty Company Profile

One of the country's leading real estate investment trusts (REITs), Mack-Cali Realty Corporation is an owner, manager and developer of premier office and multifamily properties in select waterfront and transit-oriented markets throughout the Northeast. Mack-Cali is headquartered in Jersey City, New Jersey, and is the visionary behind the city's flourishing waterfront, where the company is leading development, improvement and place-making initiatives for Harborside, a master-planned destination comprised of class A office, luxury apartments, diverse retail and restaurants, and public spaces.

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Institutional Ownership by Quarter for Mack Cali Realty (NYSE:CLI)

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