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Mack-Cali Realty Corporation (CLI) reported a net loss of $(0.41) per diluted share for Q2 2020, compared to $(0.43) in Q2 2019. Year-to-date, the loss was $(0.88) per share versus $2.24 the prior year. Core Funds from Operations (FFO) decreased to $0.28 per share from $0.40. The multifamily portfolio was 92.6% leased, with a 10.2% decline in same-store Net Operating Income (NOI). Despite a decline in revenues and increased expenses, the company declared a $0.20 dividend. However, it withdrew full-year 2020 guidance due to COVID-19 uncertainties.
Mack-Cali Realty Corporation (NYSE: CLI) announced it will release its second quarter 2020 earnings results on August 3, 2020, before market opening. A live conference call will follow at 8:00 a.m. Eastern Time, available via their website and phone. As a leading real estate investment trust, Mack-Cali focuses on premier office and multifamily properties in New Jersey, playing a vital role in the development of the waterfront in Jersey City.
Mack-Cali Realty Corporation (NYSE: CLI) announced a cash dividend of $0.20 per common share for the period April 1, 2020 to June 30, 2020, translating to an annual rate of $0.80. The dividend is set to be paid on July 24, 2020, to shareholders on record as of July 13, 2020. The company, a prominent real estate investment trust, focuses on managing and developing prime office and multifamily properties in New Jersey's key markets, particularly the flourishing waterfront of Jersey City.
Mack-Cali Realty Corporation (NYSE: CLI) has announced the rescheduling of its 2020 Annual Meeting of Stockholders to July 1, 2020, at 12:00 p.m. EST. The meeting will be held virtually due to public health concerns amid the ongoing COVID-19 pandemic, prohibiting in-person attendance. Only stockholders recorded by April 16, 2020, will have the right to participate. Mack-Cali Realty Corporation is recognized as a leading REIT, focusing on premier office and multifamily properties in New Jersey.
Mack-Cali Realty Corporation (NYSE: CLI) has appointed MaryAnne Gilmartin as the new Chair of the Board, effective immediately. This move is part of a larger strategy to reconstitute the Board, aimed at enhancing corporate governance and shareholder value. The new Board includes notable members such as Alan R. Batkin and Michael Berman. A revised slate of director candidates will be presented at the rescheduled 2020 Annual Meeting on July 1, 2020. Gilmartin, who has extensive experience in real estate, expressed commitment to driving meaningful transformation for stakeholders.
