Mack Cali Realty Corp Announces Quarterly Dividend of $0.20 (CLI)

Mack Cali Realty Corp (NYSE:CLI) announced a quarterly dividend on Thursday, March 14th, RTT News reports. Investors of record on Tuesday, April 2nd will be given a dividend of 0.20 per share by the real estate investment trust on Friday, April 12th. This represents a $0.80 annualized dividend and a yield of 3.76%.

Mack Cali Realty has increased its dividend payment by an average of 10.1% per year over the last three years and has raised its dividend annually for the last 3 consecutive years. Mack Cali Realty has a dividend payout ratio of 43.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Mack Cali Realty to earn $1.78 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 44.9%.

Shares of NYSE CLI opened at $21.26 on Friday. The firm has a market capitalization of $1.94 billion, a price-to-earnings ratio of 11.62 and a beta of 1.10. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.65. Mack Cali Realty has a fifty-two week low of $15.86 and a fifty-two week high of $22.26.

Mack Cali Realty (NYSE:CLI) last announced its quarterly earnings data on Wednesday, February 20th. The real estate investment trust reported $0.45 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.45. The firm had revenue of $132.94 million during the quarter, compared to analysts’ expectations of $133.43 million. Mack Cali Realty had a return on equity of 4.62% and a net margin of 14.71%. The company’s quarterly revenue was down 7.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.50 EPS. As a group, equities research analysts forecast that Mack Cali Realty will post 1.65 EPS for the current fiscal year.

Several equities analysts have weighed in on CLI shares. SunTrust Banks cut Mack Cali Realty from a “buy” rating to a “hold” rating in a report on Tuesday, January 15th. ValuEngine raised Mack Cali Realty from a “hold” rating to a “buy” rating in a report on Friday, February 8th. Finally, Zacks Investment Research raised Mack Cali Realty from a “sell” rating to a “hold” rating in a report on Wednesday, December 5th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $20.25.

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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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Dividend History for Mack Cali Realty (NYSE:CLI)

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