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Last $18.30 USD
Change Today +0.055 / 0.30%
Volume 156.3K
CLI On Other Exchanges
Symbol
Exchange
New York
Frankfurt
As of 12:16 PM 09/3/15 All times are local (Market data is delayed by at least 15 minutes).

mack-cali realty corp (CLI) Key Developments

Mack-Cali Realty Corporation Announces 115,000-Square-Foot Lease with Brown Brothers Harriman

Mack-Cali Realty Corporation announced that Brown Brothers Harriman (BBH) has signed a new 11-year lease for 114,798 square feet at the company's Harborside Plaza 5 in Jersey City, New Jersey.

Mack-Cali Realty Corp. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Provides Earnings Guidance for the Year of 2015

Mack-Cali Realty Corp. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported total revenues of $148.567 million compared to $160.300 million a year ago. Operating income was $27.353 million compared to $29.557 million a year ago. Net income available to common shareholders was $35.379 million or $0.40 per basic and diluted share compared to $51.123 million or $0.58 per basic and diluted share a year ago. Funds from operations available to common shareholders were $46.549 million or $0.46 per diluted share compared to $50.344 million or $0.50 per diluted share a year ago. For the quarter compared to last year, the decrease in FFO per share results primarily from lower NOI as a result of assets sold of $0.05 and lower revenue from decreased percentage leased of $0.04, partially offset by increased net real estate tax appeal proceeds of $0.02, decreased acquisition related general and administrative costs of $0.02 and decreased interest expense of $0.01. Results for the quarter were primarily driven by the company's same-store results for office portfolio received approximately $0.02 per diluted share of net real estate tax appeal proceeds. For the six months, the company reported total revenues of $302.282 million compared to $329.896 million a year ago. Operating income was $54.361 million compared to $42.724 million a year ago. Net income available to common shareholders was $32.858 million or $0.37 per basic and diluted share compared to $35.825 million or $0.40 per basic and diluted share a year ago. Funds from operations available to common shareholders were $89.601 million or $0.89 per diluted share compared to $80.486 million or $0.81 per diluted share a year ago. For the year of 2015, the company expects net income available to common shareholders per diluted share of $0.22 to $0.32 and funds from operations per diluted share of $1.70 to $1.80.

Mack-Cali Realty Corp. to Report Q2, 2015 Results on Jul 22, 2015

Mack-Cali Realty Corp. announced that they will report Q2, 2015 results at 9:00 AM, Eastern Standard Time on Jul 22, 2015

Mack-Cali Realty Corp., Q2 2015 Earnings Call, Jul 22, 2015

Mack-Cali Realty Corp., Q2 2015 Earnings Call, Jul 22, 2015

Mack-Cali Realty Corporation Announces Management Appointments

Mack-Cali Realty Corporation announced a new executive leadership team of Mitchell E. Rudin and Michael J. DeMarco. Effective immediately, Mr. Rudin will serve as chief executive officer and Mr. DeMarco will serve as president and chief operating officer. Messrs. Rudin and DeMarco are accomplished industry veterans, each with more than 30 years of experience in real estate. Most recently, Mr. Rudin served as the president and chief executive officer of U.S. Commercial Operations at Brookfield Office Properties and prior to that he served as the president and chief executive officer of the New York Tri-State Region for CBRE Inc. Mr. DeMarco's expertise is in the areas of investment banking, capital markets, and restructuring of operations, which includes his time as a senior managing director at Lehman Brothers, a managing director at Fortress Investment Group, and an executive vice president at Vornado Realty Trust.

 

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Valuation CLI Industry Range
Price/Earnings 71.4x
Price/Sales 2.7x
Price/Book 1.0x
Price/Cash Flow 8.5x
TEV/Sales NM Not Meaningful
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