UPDATE: JPMorgan Downgrades Mack-Cali Realty (CLI) to Underweight

(update comment)

JPMorgan analyst Anthony Paolone downgraded Mack-Cali Realty (NYSE: CLI) from Neutral to Underweight with a price target of $20.00 (from $25.00).

The analyst comments "We think even if traction picks up in the new year, it could take some time before we see cash rents flowing through."

For an analyst ratings summary and ratings history on Mack-Cali Realty click here. For more ratings news on Mack-Cali Realty click here.

Shares of Mack-Cali Realty closed at $20.42 yesterday.

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