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Mack-Cali Realty In Retrospect: Shares Up 0.6% Since Upgraded One Week Ago (CLI)

Published on Thu, 01/17/2013 - 10:09
By Adrienne Chilton

Mack-Cali Realty was upgraded from Hold to Buy by Keybanc one week ago. Mack-Cali Realty stocks closed at $26.49, a 0.6% gain over the course of one week.

Mack-Cali Realty share prices have moved between a 52-week high of $29.80 and a 52-week low of $24.37 and are now trading 9% above that low price at $26.56 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

Mack-Cali Realty Corporation is a fully integrated, self administered, self managed real estate investment trust (REIT) providing management, leasing, development, construction, and other tenant related services for its class A real estate portfolio. The properties are primarily office and office/flex buildings located in the Northeast.

There is potential upside of 7.8% for shares of Mack-Cali Realty based on a current price of $26.56 and an average consensus analyst price target of $28.62. The stock should find resistance at its 200-day moving average (MA) of $27.14, as well as support at its 50-day MA of $25.72.

By Adrienne Chilton
achilton@fnno.com