|Bid||27.50 x 100|
|Ask||199,999.98 x 100|
|Day's Range||27.77 - 28.09|
|52 Week Range||24.59 - 29.70|
|PE Ratio (TTM)||38.53|
|Dividend & Yield||0.80 (2.86%)|
|1y Target Est||N/A|
Ushering in good news for shareholders, Mack-Cali Realty Corporation (CLI) announced a 33.3% hike in its quarterly cash dividend, denoting its first increase since 2006.
CEO Michael J. DeMarco, commented: We feel that our operations, specifically distributable cash flow, have improved significantly to the point that we felt that our shareholders should receive an increase on their cash return. The firm has Mack-Cali as one of its only Buy-rated stocks among the "low barrier" office REITS. Analysts wrote June 8: In the low barrier office world, our only Buy-rated office REITs are Mack-Cali (CLI, Buy, $27.06) due to its substantial valuation discount relative to the other low barrier office REITs, Brandywine (BDN, Buy, $17.39) due to attractive valuation metrics and internal growth comparable to Manhattan-centric office REITs, and Highwoods (HIW, Buy, $50.60) due to its ability to improve all of its valuation metrics with over $350mm of development delivering in 2H17.
Mack-Cali Realty Corp. said Monday it will raise its quarterly dividend by 33% to 20 cents a share, from 15 cents a share, marking the first increase since 2006. The new dividend will be payable July 14 ...