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CLI - Mack-Cali: Overlevered Hedge Fund Target Is A REIT To Avoid
Mack-Cali Realty Corporation
As yields have sunk, I've been doing some due diligence on REITs I could use as yield generating for my portfolio. Mack-Cali came to my attention due to its relatively low forward P/FFO ratio of 11.6x. I wanted to publish my due diligence on Mack-Cali (CLI) and show why it is a REIT to avoid.
Mack-Cali is a REIT focused on an assortment of properties situated in the waterfront area of New Jersey and New York as well as other properties along the Northeast. The company has 71 real estate properties (41 office