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Q3 2020 Earnings Estimate for Mack Cali Realty Corp Issued By Truist Securiti (NYSE:CLI)

Last updated on Sunday, October 18, 2020 | 2020 MarketBeat

Mack Cali Realty Corp (NYSE:CLI) - Analysts at Truist Securiti lowered their Q3 2020 EPS estimates for shares of Mack Cali Realty in a research report issued to clients and investors on Tuesday, October 13th. Truist Securiti analyst M. Lewis now forecasts that the real estate investment trust will post earnings of $0.28 per share for the quarter, down from their prior estimate of $0.30. Truist Securiti also issued estimates for Mack Cali Realty's Q4 2020 earnings at $0.28 EPS and FY2022 earnings at $0.95 EPS.

Several other equities research analysts have also commented on the stock. Deutsche Bank Aktiengesellschaft lowered shares of Mack Cali Realty from a "buy" rating to a "hold" rating and reduced their price target for the company from $20.00 to $14.00 in a report on Tuesday, August 4th. ValuEngine lowered shares of Mack Cali Realty from a "hold" rating to a "sell" rating in a report on Monday, August 3rd. Three research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The stock has an average rating of "Hold" and a consensus target price of $20.25.

NYSE:CLI opened at $11.86 on Friday. Mack Cali Realty has a one year low of $11.71 and a one year high of $23.89. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.64 and a current ratio of 0.64. The firm has a market cap of $1.08 billion, a P/E ratio of -5.47 and a beta of 1.01. The firm has a 50-day simple moving average of $13.03 and a 200-day simple moving average of $14.46. Mack Cali Realty (NYSE:CLI) last posted its quarterly earnings results on Monday, August 3rd. The real estate investment trust reported $0.28 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.03). Mack Cali Realty had a negative net margin of 50.48% and a negative return on equity of 4.46%. The business had revenue of $72.60 million during the quarter, compared to the consensus estimate of $98.91 million. During the same quarter in the prior year, the firm posted $0.40 EPS. The company's revenue for the quarter was down 16.2% compared to the same quarter last year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Marshall Wace North America L.P. increased its stake in Mack Cali Realty by 35.9% during 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 in the last quarter. Point72 Hong Kong Ltd acquired a new position in Mack Cali Realty during the 2nd quarter valued at approximately $119,000. Advisor Group Holdings Inc. acquired a new position in Mack Cali Realty during the 1st quarter valued at approximately $122,000. Schonfeld Strategic Advisors LLC acquired a new position in Mack Cali Realty during the 2nd quarter valued at approximately $159,000. Finally, FDx Advisors Inc. increased its stake in Mack Cali Realty by 601.7% during the 1st quarter. FDx Advisors Inc. now owns 61,339 shares of the real estate investment trust's stock valued at $160,000 after purchasing an additional 52,597 shares in the last quarter. Hedge funds and other institutional investors own 80.29% of the company's stock.

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.

Read More: What is the Fibonacci sequence?

Earnings History and Estimates for Mack Cali Realty (NYSE:CLI)

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The Next 5 Retailers on the Edge of Bankruptcy

Through no fault of theirs, the novel coronavirus has put some retailers on the edge of bankruptcy. And as you’ve seen, many have fallen over that edge including iconic names like Nieman Marcus, J.C. Penney and J.Crew.

In fact, according to the American Bankruptcy Institute, there were 560 commercial Chapter 11 filings in April. That was a 26% increase over last year. And executive director, Amy Quakenboss, suggests that there are more to come.

“As financial challenges continue to escalate amid this crisis,” observes Quakenboss, “bankruptcy is sure to offer a financial safe harbor from the economic storm.”

With no revenue walking through the door, many retailers are seeing a semblance of revenue from e-commerce sales. But for some retailers, the shutdown is more impactful because they didn’t have a strong e-commerce structure. That means that they rely more than others on brick-and-mortar sales.

The real question now is will there really be the pent-up demand that some analysts still swear is just waiting to be unleashed. It may indeed exist. Time will tell. But time is not a commodity many of these retailers have. And we’ve identified five retailers for which the clock is not in their favor.

View the "The Next 5 Retailers on the Edge of Bankruptcy".

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