CLI - Mack-Cali Realty Corporation Looks to Continue to Trade Above its Annual-High Share Price Today
Mack-Cali Realty Corporation (NYSE:CLI) traded today at a new 52-week high of $17.95. This new high was reached on below average trading volume as 148,000 shares traded hands, while the average 30-day volume is approximately 863,000 shares.
There is potential upside of 292.2% for shares of Mack-Cali Realty Corporation based on a current price of $17.85 and an average consensus analyst price target of $70.00.
In the past 52 weeks, shares of Mack-Cali Realty Corporation have traded between a low of $10.35 and a high of $17.95 and is now at $17.85, which is 73% above that low price.
Mack-Cali Realty Corp is a real estate investment trust that owns and operates office, flex, industrial, and multifamily properties in the Northeastern United States. The vast majority of the company's real estate portfolio is split between office buildings and flex facilities, which are buildings that combine warehouse and office space into one location. Mack-Cali primarily derives its revenue as rental income from tenants. The urban and suburban real estate markets of Jersey City, New Jersey; Newark, New Jersey; Westchester-Rockland, New York; and Bergen-Passaic, New Jersey generate most of the company's total revenue. Mack-Cali's largest tenants include a variety of financial, insurance, manufacturing, and legal services firms.
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