Welcome to our dedicated page for CLI news (Ticker: CLI), a resource for investors and traders seeking the latest updates and insights on CLI stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect CLI's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of CLI's position in the market.
Mack-Cali Realty Corporation (NYSE: CLI) has announced the sale of its Short Hills, New Jersey office portfolio for $255 million. This four-building portfolio spans 843,300 square feet and will provide $100 million in net proceeds after debt repayments. The funds will be used to reduce unsecured corporate debt, enhancing financial stability. CEO Mahbod Nia emphasized that the sale is part of a strategic move to simplify the company and strengthen its balance sheet. This follows the recent successful sale of the Metropark portfolio for $254 million.
Mack-Cali Realty Corporation (NYSE: CLI) announced the sale of its Metropark portfolio in New Jersey for $254 million to Opal Holdings. This transaction, consisting of four office buildings totaling 945,906 square feet, is one of the year's largest suburban office deals, reinforcing Mack-Cali's strategy to divest non-core assets. The proceeds will be used to reduce unsecured corporate debt in Q2 2021. The portfolio is over 90% leased to reputable tenants and has benefited from recent upgrades, contributing positively to Mack-Cali's ongoing business strategy.
Mack-Cali Realty Corporation (NYSE: CLI) announced the continuation of its common dividend suspension for the remainder of 2021, aimed at conserving capital amid economic uncertainty. The Board will review the dividend's resumption in Q1 2022 based on projected taxable income estimates. Mack-Cali, a leading real estate investment trust, focuses on developing premier properties in New Jersey and has been pivotal in enhancing the state's waterfront areas.
Mack-Cali Realty Corporation (NYSE: CLI) has appointed Mahbod Nia as CEO effective March 8, 2021. Nia, with over 20 years of real estate experience, previously led NorthStar Realty Europe Corp. where he achieved a 40% net asset value growth. He succeeds MaryAnne Gilmartin, who transitions to Special Advisor. Tammy K. Jones has been appointed Board Chair. Gilmartin's leadership during the pandemic was praised, and the company aims to unlock shareholder value under Nia's leadership. Nia will receive 950,000 stock options upon his start date.
Mack-Cali Realty Corporation (NYSE: CLI) reported its fourth quarter and full-year 2020 results, showing a net income of $0.67 per diluted share for Q4 compared to a loss of $(0.64) in Q4 2019. For the full year, the loss was $(0.70) per share versus $0.95 in 2019. Core Funds from Operations (FFO) decreased to $0.16 per diluted share in Q4 from $0.44 in the prior year. Roseland's multifamily portfolio was 92% leased, while the office portfolio was 78.7% leased. The company also announced a suspension of dividends to enhance financial flexibility. Initial Core FFO guidance for Q1 2021 is projected at $0.12 - $0.15.
Roseland Residential Trust, a subsidiary of Mack-Cali Realty Corporation (NYSE: CLI), has unveiled The Capstone at Port Imperial, a luxurious residential building in New Jersey. The Capstone features 360 units, ranging from studios to four-bedroom homes, designed for modern renters. The building includes notable amenities such as a rooftop lounge, outdoor fitness areas, and retail space. Roseland aims to enhance the Port Imperial community, which is becoming a desired lifestyle destination due to its waterfront location and accessibility to Manhattan. For leasing inquiries, visit thecapstonepi.com.
Mack-Cali Realty Corporation (NYSE: CLI) announced it will release its fourth quarter 2020 earnings results after market close on February 25, 2021. A conference call with management will take place the following day, February 26, 2021, at 8:30 a.m. ET. Investors can access the call online or by phone at (323) 289-6576, using the confirmation code 5369397. Mack-Cali specializes in managing and developing premier office and multifamily properties, primarily in New Jersey, and is committed to enhancing urban spaces like the Harborside waterfront.
Mack-Cali Realty Corporation (NYSE: CLI) has announced the tax treatment of its 2020 dividends, totaling $0.60 per share. The dividends are classified as follows: $0.200 per share payable on January 10, 2020; $0.200 on April 14, 2020; and $0.200 on July 24, 2020. Taxable ordinary dividends are $0.116391 per share, while total capital gain is $0.483609 per share. Shareholders are advised to consult tax advisors regarding the specific treatment of these dividends.
Mack-Cali Realty Corporation (NYSE: CLI) has announced three significant transactions in its residential portfolio. These include the sale of interests in Crystal House Apartments for $377 million and Riverwatch Commons for $47 million. The firm has also refinanced its construction loan for The Emery at Overlook Ridge with a new mortgage of $72 million. The transactions will increase the average revenue per home to over $3,100 and decrease the average age of assets to seven years. CEO MaryAnne Gilmartin emphasized a focus on core markets and effective balance sheet management.
