NYSE:CLI

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Executive Summary

One of the country's leading real estate investment trusts (REITs), Mack-Cali Realty Corporation is an owner, manager and developer of premier office and multifamily properties in select waterfront and transit-oriented markets throughout the Northeast.


Snowflake Analysis

Average dividend payer and slightly overvalued.


Similar Companies

Share Price & News

How has Mack-Cali Realty's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: CLI's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

2.6%

CLI

2.0%

US REITs

1.0%

US Market


1 Year Return

-35.5%

CLI

-14.8%

US REITs

4.1%

US Market

Return vs Industry: CLI underperformed the US REITs industry which returned -14.8% over the past year.

Return vs Market: CLI underperformed the US Market which returned 4.1% over the past year.


Shareholder returns

CLIIndustryMarket
7 Day2.6%2.0%1.0%
30 Day-2.8%1.1%5.4%
90 Day-28.3%-21.8%-5.7%
1 Year-32.9%-35.5%-11.2%-14.8%6.5%4.1%
3 Year-39.8%-46.4%6.4%-6.8%28.3%19.8%
5 Year-0.3%-15.6%30.4%3.5%52.2%35.0%

Price Volatility Vs. Market

How volatile is Mack-Cali Realty's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Mack-Cali Realty undervalued compared to its fair value and its price relative to the market?

18.3%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: CLI ($14.37) is trading below our estimate of fair value ($17.58)

Significantly Below Fair Value: CLI is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: CLI is unprofitable, so we can't compare its PE Ratio to the REITs industry average.

PE vs Market: CLI is unprofitable, so we can't compare its PE Ratio to the US market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate CLI's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: CLI is good value based on its PB Ratio (0.9x) compared to the US REITs industry average (1.3x).


Next Steps

Future Growth

How is Mack-Cali Realty forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?

53.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CLI is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: CLI is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: CLI is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: CLI's revenue (6.3% per year) is forecast to grow slower than the US market (8.9% per year).

High Growth Revenue: CLI's revenue (6.3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: CLI is forecast to be unprofitable in 3 years.


Next Steps

Past Performance

How has Mack-Cali Realty performed over the past 5 years?

39.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: CLI is currently unprofitable.

Growing Profit Margin: CLI is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: CLI is unprofitable, but has reduced losses over the past 5 years at a rate of 39.8% per year.

Accelerating Growth: Unable to compare CLI's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: CLI is unprofitable, making it difficult to compare its past year earnings growth to the REITs industry (5.3%).


Return on Equity

High ROE: CLI has a negative Return on Equity (-2.19%), as it is currently unprofitable.


Next Steps

Financial Health

How is Mack-Cali Realty's financial position?


Financial Position Analysis

Short Term Liabilities: CLI's short term assets ($1.1B) exceed its short term liabilities ($211.7M).

Long Term Liabilities: CLI's short term assets ($1.1B) do not cover its long term liabilities ($2.9B).


Debt to Equity History and Analysis

Debt Level: CLI's debt to equity ratio (134.5%) is considered high.

Reducing Debt: CLI's debt to equity ratio has increased from 112.9% to 134.5% over the past 5 years.

Debt Coverage: CLI's debt is not well covered by operating cash flow (4.5%).

Interest Coverage: CLI is unprofitable, therefore interest payments are not well covered by earnings.


Balance Sheet


Next Steps

Dividend

What is Mack-Cali Realty's current dividend yield, its reliability and sustainability?

5.57%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: CLI's dividend (5.57%) is higher than the bottom 25% of dividend payers in the US market (1.75%).

High Dividend: CLI's dividend (5.57%) is in the top 25% of dividend payers in the US market (4.73%)


Stability and Growth of Payments

Stable Dividend: CLI's dividend payments have been volatile in the past 10 years.

Growing Dividend: CLI's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: At its current payout ratio (98.2%), CLI's payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: CLI's dividends in 3 years are forecast to be thoroughly covered by earnings (0.8% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

2.3yrs

Average management tenure


CEO

Mike DeMarco (59yo)

5.33yrs

Tenure

US$8,967,501

Compensation

Mr. Michael J. DeMarco, also known as Mike, C.P.A, has been the Chief Executive Officer at Mack-Cali Realty Corporation since 2015 and served as its President and Chief Operating Officer from June 2015 to  ...


CEO Compensation Analysis

Compensation vs Market: Mike's total compensation ($USD8.97M) is above average for companies of similar size in the US market ($USD4.91M).

Compensation vs Earnings: Mike's compensation has increased whilst the company is unprofitable.


Leadership Team

NamePositionTenureCompensationOwnership
Michael DeMarco
CEO & Director5.33yrsUS$8.97m0.15% $2.2m
David Smetana
Chief Financial Officer2.25yrsUS$1.27m0.0064% $92.2k
Ricardo Cardoso
Executive VP & Chief Investment Officer4.67yrsUS$1.27m0.048% $685.1k
Gary Wagner
Executive VP6yrsUS$1.26m0.023% $333.8k
Giovanni DeBari
Chief Accounting Officer1.17yrsno data0.0042% $61.0k
Nicholas Mitarotonda
Senior VP & Chief Information Officer0.33yrno datano data
Deidre Crockett
Executive VP & Chief Administrative Officer0.42yrno data0.0016% $23.7k
Dean Cingolani
Senior Vice President of Property Managementno datano datano data
Manuel Garcia
Senior Vice President of Architectural Servicesno datano datano data
Nicholas Hilton
Executive Vice President of Leasing2.25yrsno datano data

2.3yrs

Average Tenure

47yo

Average Age

Experienced Management: CLI's management team is considered experienced (2.3 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Michael DeMarco
CEO & Director5.33yrsUS$8.97m0.15% $2.2m
John Cali
Member of Advisory Boardno dataUS$28.00kno data
William Mack
Chairman of the Board20.33yrsUS$162.49k0.057% $813.6k
Irvin Reid
Independent Director26.33yrsUS$192.49k0.033% $480.3k
Robert Weinberg
Member of Advisory Boardno dataUS$28.00kno data
Alan Bernikow
Lead Independent Director6.17yrsUS$253.49k0.051% $726.2k
Lisa Myers
Independent Director0.92yrUS$145.38k0.0047% $67.7k
Frederic Mack
Member of Advisory Boardno datano datano data
Marshall Tycher
Chairman of Roseland Residential Trustno dataUS$4.17m0.059% $848.6k
Rebecca Robertson
Independent Director3.67yrsUS$172.99k0.017% $244.6k

4.9yrs

Average Tenure

74.5yo

Average Age

Experienced Board: CLI's board of directors are considered experienced (4.9 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Mack-Cali Realty Corporation's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Mack-Cali Realty Corporation
  • Ticker: CLI
  • Exchange: NYSE
  • Founded: 1994
  • Industry: Office REITs
  • Sector: Real Estate
  • Implied Market Cap: US$1.438b
  • Market Cap: US$1.301b
  • Shares outstanding: 100.07m
  • Website: https://www.mack-cali.com

Number of Employees


Location

  • Mack-Cali Realty Corporation
  • Harborside 3
  • Suite 400
  • Jersey City
  • New Jersey
  • 7311
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CLINYSE (New York Stock Exchange)YesCommon StockUSUSDAug 1994
WY4DB (Deutsche Boerse AG)YesCommon StockDEEURAug 1994

Biography

One of the country's leading real estate investment trusts (REITs), Mack-Cali Realty Corporation is an owner, manager and developer of premier office and multifamily properties in select waterfront and transit-oriented markets throughout the Northeast. Mack-Cali is headquartered in Jersey City, New Jersey, and is the visionary behind the city's flourishing waterfront, where the company is leading development, improvement and place-making initiatives for Harborside, a master-planned destination comprised of class A office, luxury apartments, diverse retail and restaurants, and public spaces. A fully-integrated and self-managed company, Mack-Cali has provided world-class management, leasing, and development services throughout New Jersey and the surrounding region for two decades. By regularly investing in its properties and innovative lifestyle amenity packages, Mack-Cali creates environments that empower tenants and residents to reimagine the way they work and live. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/05/26 11:39
End of Day Share Price2020/05/22 00:00
Earnings2020/03/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.