Will Investors Now Buy Mack-Cali Realty (NYSE:CLI) Stock Following Today’s, JP Morgan Upgrades?


Mack-Cali Realty (NYSE:CLI) Stock Upgrade

In an interesting research report distributed on 17 December, JP Morgan increased shares of Mack-Cali Realty (NYSE:CLI) to a “Neutral”. The previous rating for CLI was a “Underweight”.

From a total of 9 analysts covering Mack Cali Realty Corp (NYSE:CLI) stock, 2 rate it a ”Buy”, 3 a “Sell”, and 5 a ”Hold”. This means that 20% of the ratings are positive. The highest target price is $25.5 while the lowest target price is $19. The mean of all analyst targets is $22.83 with a 0.43% above today’s ($23.3) stock price. Mack Cali Realty Corp was the topic of 10 analyst reports since August 14, 2015 according to the firm StockzIntelligence Inc. Stifel Nicolaus maintained shares on November 2 with “Buy” rating. Zacks upgraded CLI stock in a recent report from August 24 to “Hold” rating.

Approximately 226,681 shares of stock traded hands. Mack Cali Realty Corp (NYSE:CLI) has risen 29.69% since May 14, 2015 and is uptrending. It has outperformed by 31.95% the S&P500.

The overall sentiment of institutions has is 1.35 in Q2 2015. Its the same as in 2015Q2. The ratio is the same, as 14 institutions have sold all the shares of Mack Cali Realty Corp that they owned while 70 funds have taken shares off the table. only 27 funds have purchased shares for the first time while 86 added to their positions. These institutions now hold 72.90 million shares or 12.67% less than the 83.48 million shares they owned in 2015Q2.

The Fund Land & Buildings Investment Management Llc currently is holding shares equating to 6.4% of its total portfolio in Mack Cali Realty Corp representing a total of 817,900 shares. Another fund,Forum Securities Ltd, is holding a total of 243,276 shares equating to 5.28% of their holdings. Additionally, Real Estate Management Services Llc has a 1.06 million share stake in Mack Cali Realty Corp which represents 3.11% of their total portfolio. The Fund, Proxima Capital Management Llc, based out of New York, has also built up a stake in the stock, which represents a total of 2.74% of their total portfolio. Finally Cooper Creek Partners Management Llc, a fund which is based in the state of New York reported a total holdings of 123,148 shares.

Insider activity is a very important aspect to track on any stock. Going back to September 17, 2015, shareholders of Mack Cali Realty Corp have witnessed 2 insider purchases, and a total of 0 sales equating to a net activity of approximately $6.68 million . Litt Jonathan bought 130,500 shares worth approximately $2.49 million.

Mack-Cali Realty Corporation is a self-administered and self-managed real estate investment trust . The company has a market cap of $2.04 billion. The Firm owns and operates a real estate portfolio of Class A office and office/flex and multi-family rental properties located primarily in the Northeast. It currently has negative earnings. The Firm operates through three divisions: commercial and other real estate, multi-family real estate and multi-family services.

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.”