|Bid||13.72 x 800|
|Ask||13.74 x 1400|
|Day's Range||13.48 - 14.01|
|52 Week Range||12.56 - 23.89|
|Beta (5Y Monthly)||1.10|
|PE Ratio (TTM)||N/A|
|Earnings Date||Oct 28, 2020 - Nov 02, 2020|
|Forward Dividend & Yield||0.80 (6.05%)|
|Ex-Dividend Date||Jul 10, 2020|
|1y Target Est||17.67|
CLI earnings call for the period ending June 30, 2020.
Mack-Cali (CLI) delivered FFO and revenue surprises of -9.68% and -38.83%, respectively, for the quarter ended June 2020. Do the numbers hold clues to what lies ahead for the stock?
Mack-Cali Realty Corp. reported Monday adjusted funds from operations that missed expectations has revenue surprisingly fell, as the real estate investment trust has experienced challenges as a result of the COVID-19 pandemic. The net loss narrowed for the quarter was $34.9 million, or 41 cents a share, after a loss of $22.1 million, or 43 cents a share, in the year-ago period. Core funds from operations, or net income before noncontrolling interests and excluding nonrecurring items, fell to 28 cents a share from 40 cents, missing the FactSet consensus of 31 cents. Total revenue fell to $72.65 million from $86.61 million, while the FactSet consensus was for an increase to $112.8 million. Office collections averaged 96% during the quarter and 98% in July, while residential collections averaged 98% in the quarter and 99% in July. The company is not providing financial guidance given the uncertainties associated with the COVID-19 pandemic. Interim Chief Executive MaryAnne Gilmartin said the company has begun its search for a permanent CEO. The stock, which was still inactive in premarket trading, has tumbled 37.7% year to date through Friday, while the SPDR Real Estate Select Services ETF has lost 6.2% and the S&P 500 has edged up 1.3%.