Waterfront Capital Partners LLC Acquires Shares of 215,803 Mack Cali Realty Corp (CLI)

Waterfront Capital Partners LLC acquired a new position in shares of Mack Cali Realty Corp (NYSE:CLI) during the 3rd quarter, Holdings Channel reports. The institutional investor acquired 215,803 shares of the real estate investment trust’s stock, valued at approximately $4,588,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CLI. First Hawaiian Bank acquired a new stake in shares of Mack Cali Realty during the 3rd quarter valued at $123,000. State of Alaska Department of Revenue boosted its stake in shares of Mack Cali Realty by 89.9% during the 2nd quarter. State of Alaska Department of Revenue now owns 7,424 shares of the real estate investment trust’s stock valued at $150,000 after buying an additional 3,514 shares during the period. Point72 Hong Kong Ltd boosted its stake in shares of Mack Cali Realty by 729.3% during the 2nd quarter. Point72 Hong Kong Ltd now owns 8,973 shares of the real estate investment trust’s stock valued at $182,000 after buying an additional 7,891 shares during the period. Engineers Gate Manager LP acquired a new stake in shares of Mack Cali Realty during the 3rd quarter valued at $210,000. Finally, Verition Fund Management LLC acquired a new stake in shares of Mack Cali Realty during the 2nd quarter valued at $284,000. Hedge funds and other institutional investors own 98.65% of the company’s stock.

CLI stock opened at $21.13 on Monday. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.71 and a quick ratio of 0.71. Mack Cali Realty Corp has a 1 year low of $15.86 and a 1 year high of $22.56. The firm has a market capitalization of $1.91 billion, a P/E ratio of 9.48 and a beta of 1.18.

In related news, EVP Robert Andrew Marshall sold 1,426 shares of Mack Cali Realty stock in a transaction on Monday, September 10th. The shares were sold at an average price of $21.28, for a total value of $30,345.28. Following the completion of the sale, the executive vice president now owns 1,426 shares of the company’s stock, valued at approximately $30,345.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 6.83% of the stock is currently owned by insiders.

A number of equities research analysts have issued reports on CLI shares. ValuEngine raised shares of Mack Cali Realty from a “sell” rating to a “hold” rating in a research note on Friday, October 19th. Barclays reissued a “sell” rating and set a $18.00 target price on shares of Mack Cali Realty in a research note on Sunday, October 14th. Deutsche Bank lifted their target price on shares of Mack Cali Realty from $21.00 to $22.00 and gave the company a “hold” rating in a research note on Wednesday, August 29th. Stifel Nicolaus decreased their target price on shares of Mack Cali Realty from $23.00 to $21.00 and set a “hold” rating for the company in a research note on Tuesday, September 25th. Finally, Zacks Investment Research lowered shares of Mack Cali Realty from a “hold” rating to a “sell” rating in a research note on Tuesday, October 16th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $21.80.

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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.

Further Reading: What is the Coverage Ratio?

Want to see what other hedge funds are holding CLI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mack Cali Realty Corp (NYSE:CLI).

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

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