What Does Investor Sentiment Say About Mack Cali Realty Corp (CLI)?

Seeing as Mack Cali Realty Corp (NYSE:CLI) has faced a declination in interest from the smart money, we can see that there was a specific group of hedge funds who were dropping their full holdings by the end of the third quarter. Interestingly, John Khoury’s Long Pond Capital sold off the largest position of all the hedgies monitored by Insider Monkey, comprising an estimated $66.2 million in stock. Soros Fund Management, a family office founded by George Soros, also cut its stock, about $38.1 million worth. These transactions are intriguing to say the least, as aggregate hedge fund interest stayed the same (this is a bearish signal in our experience).

Let’s check out hedge fund activity in other stocks similar to Mack Cali Realty Corp (NYSE:CLI). We will take a look at Matson Inc (NYSE:MATX), Alexander & Baldwin Inc (NYSE:ALEX), Capitol Federal Financial, Inc. (NASDAQ:CFFN), and Scorpio Tankers Inc. (NYSE:STNG). This group of stocks’ market values are closest to CLI’s market value.

As you can see these stocks had an average of 17.25 hedge funds with bullish positions and the average amount invested in these stocks was $180 million. That figure was $123 million in CLI’s case. Scorpio Tankers Inc. (NYSE:STNG) is the most popular stock in this table. On the other hand Capitol Federal Financial, Inc. (NASDAQ:CFFN) is the least popular one with only 11 bullish hedge fund positions. Mack Cali Realty Corp (NYSE:CLI) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard STNG might be a better candidate to consider for a long position.