Mack-Cali Realty (CLI) Tops Q3 EPS by 5c; Guides Above the Street

Mack-Cali Realty (NYSE: CLI) reported Q3 FFO of $0.60, $0.05 better than the analyst estimate of $0.55. Revenue for the quarter came in at $157.52 million versus the consensus estimate of $157.45 million.

GUIDANCE:

Mack-Cali Realty sees FY2016 FFO of $2.14-$2.16, versus the consensus of $2.11.

Mack-Cali Realty sees FY2017 FFO of $2.25-$2.40, versus the consensus of $2.22.

Michael J. DeMarco, president, commented "We continue to successfully execute against our strategic initiatives making meaningful strides across all aspects of the enterprise including improvements in our operations, portfolio composition and capital structure. The progress completed to date gives us the confidence to introduce preliminary 2017 guidance that would again represent meaningful year-over-year growth. While we have made great progress, there are many additional opportunities to extract value. Our singular focus is to position Mack-Cali for improved cash flow and growth over the long term."

For earnings history and earnings-related data on Mack-Cali Realty (CLI) click here.

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