CLI - Watch for Continued Gains in Shares of Mack-Cali Realty Corporation (CLI)
Mack-Cali Realty Corporation (NYSE:CLI) traded today at a new 52-week high of $18.71. So far today approximately 92,000 shares have been exchanged, as compared to an average 30-day volume of 665,000 shares.
Over the past year, Mack-Cali Realty Corporation has traded in a range of $10.35 to $18.71 and is now at $18.46, 78% above that low.
Mack-Cali Realty Corporation (NYSE:CLI) has potential upside of 21.7% based on a current price of $18.46 and analysts' consensus price target of $22.47.
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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