Teachers Insurance & Annuity Association of America trimmed its holdings in Mack Cali Realty Corp (NYSE:CLI) by 2.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 115,067 shares of the real estate investment trust’s stock after selling 2,557 shares during the period. Teachers Insurance & Annuity Association of America’s holdings in Mack Cali Realty were worth $2,446,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. State of Alaska Department of Revenue grew its holdings in Mack Cali Realty by 89.9% in the second quarter. State of Alaska Department of Revenue now owns 7,424 shares of the real estate investment trust’s stock worth $150,000 after purchasing an additional 3,514 shares during the period. Westpac Banking Corp purchased a new stake in Mack Cali Realty in the second quarter worth about $2,110,000. Aperio Group LLC grew its holdings in Mack Cali Realty by 150.9% in the second quarter. Aperio Group LLC now owns 109,724 shares of the real estate investment trust’s stock worth $2,225,000 after purchasing an additional 65,988 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Mack Cali Realty in the second quarter worth about $392,000. Finally, First Trust Advisors LP grew its holdings in Mack Cali Realty by 18.8% in the second quarter. First Trust Advisors LP now owns 123,244 shares of the real estate investment trust’s stock worth $2,499,000 after purchasing an additional 19,518 shares during the period. 98.65% of the stock is currently owned by institutional investors.
In other news, EVP Robert Andrew Marshall sold 1,426 shares of the stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $21.28, for a total transaction of $30,345.28. Following the sale, the executive vice president now owns 1,426 shares in the company, valued at $30,345.28. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 6.83% of the company’s stock.
A number of brokerages have weighed in on CLI. Deutsche Bank upped their price objective on shares of Mack Cali Realty from $21.00 to $22.00 and gave the stock a “hold” rating in a report on Wednesday, August 29th. Stifel Nicolaus restated a “hold” rating and issued a $23.00 price objective (up previously from $21.00) on shares of Mack Cali Realty in a report on Thursday, August 16th. ValuEngine upgraded shares of Mack Cali Realty from a “sell” rating to a “hold” rating in a report on Wednesday, August 15th. Zacks Investment Research cut shares of Mack Cali Realty from a “hold” rating to a “sell” rating in a report on Tuesday, October 16th. Finally, Barclays restated a “sell” rating and issued a $18.00 price objective on shares of Mack Cali Realty in a report on Sunday, October 14th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $21.80.
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About Mack Cali Realty
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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