NEW YORK ( TheStreet) -- The ex-dividend date for Mack-Cali Realty Corporation (NYSE: CLI) is tomorrow, July 1, 2011. Owners of shares as of market close today will be eligible for a dividend of 45 cents per share. At a price of $33.06 as of 9:32 a.m. ET, the dividend yield is 5.5%. The average volume for Mack-Cali has been 786,000 shares per day over the past 30 days. Mack-Cali has a market cap of $2.8 billion and is part of the financial sector and real estate industry. Shares are down 0.2% year to date as of the close of trading on Wednesday. Mack-Cali Realty Corporation is a real estate investment trust (REIT). It engages in the leasing, management, acquisition, development, and construction of commercial real estate properties in the United States. The company has a P/E ratio of 51.6, above the average real estate industry P/E ratio of 47.8 and above the S&P 500 P/E ratio of 17.7.
Practice your dividend trading strategies and win cash in our stock game.
TheStreet Ratings rates Mack-Cali as a buy. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels, growth in earnings per share, increase in stock price during the past year and increase in net income. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. You can view the full Mack-Cali Ratings Report. See our dividend calendar or top-yielding stocks list.