Mack-Cali Realty, a real estate investment trust based in Edison, N.J., has been designated the "Bear of the Day" for Aug. 29 by Zacks Equity Research, Chicago. The Bear of the Day is a stock expected to underperform the markets over the next three to six months. Zacks said it is maintaining its Sell recommendation on the office REIT "due to macroeconomic factors" and that suburban office landlords are expected to "have a tough time over the next 12 months." Office occupancies in the company's core markets have risen rapidly, making it difficult to hold occupancy and increase rents, the research firm said. Zacks can be found online at http://www.zacks.com, and Mack-Cali can be found at http://www.mack-cali.com.
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