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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.