Mack-Cali Realty Q4 FFO Down

(RTTNews) - Mack-Cali Realty Corp. (CLI) reported that its fourth-quarter funds from operations declined to $12.2 million or $0.12 per share from $49.0 million or $0.49 per share in the prior year.

Net loss available to common shareholders for the quarter was $54.7 million or $0.64 per share, compared to net income of $43.8 million or $0.45 per share in the prior year.

Core funds from operations was $44.1 million, or $0.44 per share, compared to $45.3 million or $0.45 per share in the previous year.

Total revenues for quarter decreased to $86.67 million from $90.28 million in the previous year.

The company expects Core FFO to be in the range of $1.24 - $1.36 per share for full year 2020.