Mack-Cali Realty Corp’s CLI second-quarter 2020 core funds from operations (FFO) per share of 28 cents missed the Zacks Consensus Estimate of 31 cents. Moreover, the figure compares unfavorably with the year-ago quarter’s reported number of 40 cents.The company’s same-store cash net operating income (NOI) for the office portfolio increased year over year. However, leasing activity decreased in its office portfolio.Quarterly revenues of $72.7 million missed the Zacks Consensus Estimate of $118.8 million. The revenue figure also comes in 16.1% lower than the prior-year quarter’s $86.6 million.In the second quarter, the company collected average office rents of 96% and average residential rents of 98%. Moreover, the company has collected about 98% of its total rent from office tenants and about 99% of its total rent from residential tenants for July.Shares of Mack-Cali depreciated 8.39% to $15.54 during Monday's regular trading session.The company did not issue the ongoing-year outlook due to the pandemic-related uncertainties.Quarter in DetailAs of Jun 30, 2020, Mack-Cali’s consolidated core office properties were 80.3% leased, reflecting a decrease from 81.1% as of Mar 31, 2020. Notably, the Class A suburban portfolio was leased 89.5%, while Suburban and Waterfront portfolios were leased 77.4% and 78.6%, respectively, as of the same date.Same-store cash revenues for the office portfolio climbed 4.3% and the same-store cash NOI was up 13.4%, year over year.During the reported quarter, Mack-Cali executed eight lease deals, spanning 155,054 square feet, in the company’s consolidated in-service commercial portfolio. This comprised 6.8% for new leases, and 93.2% for lease renewals and other tenant-retention transactions.In addition, for the core portfolio, rental rate roll up for second-quarter 2020 transactions was 3.4% on a cash basis.Further, Roseland, its subsidiary engaged in multi-family residential operations, reported that its stabilized operating portfolio was 92.6% leased at the end of the quarter, contracting 310 basis points (bps) from the prior quarter’s end. The multi-family property’s same-store NOI decreased 5% for the June-end quarter.Portfolio ActivityDuring the second quarter, Mack- Cali contracted to sell 111 River Street, an office building for $244.5 million and this is subject to due diligence.Balance Sheet PositionThe company exited second-quarter 2020 with $26.3 million in cash, up from $25.6 million as of Dec 31, 2019.Mack-Cali’s net debt to adjusted EBITDA was 13.0X for the reported quarter compared with the prior-year quarter’s 9.5X.Dividend UpdateMack-Cali announced a quarterly cash dividend of 20 cents per share in July. This was paid on Jul 24, to shareholders of record as of Jul 13, 2020.Mack-Cali currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.MackCali Realty Corporation Price, Consensus and EPS Surprise MackCali Realty Corporation price-consensus-eps-surprise-chart | MackCali Realty Corporation QuoteOther REIT PerformancesSL Green Realty Corp. SLG reported second-quarter 2020 FFO per share of $1.70, surpassing the Zacks Consensus Estimate of $1.55. The figure, however, compared unfavorably with the year-ago quarter’s $1.82.CBRE Group Inc. CBRE delivered second-quarter adjusted earnings per share of 35 cents, beating the Zacks Consensus Estimate of 30 cents. However, the figure plummeted 57.1% year over year.Duke Realty Corporation’s DRE second-quarter 2020 core FFO per share of 38 cents surpassed the Zacks Consensus Estimate of 37 cents. The figure also increased from the year-ago tally of 36 cents.Note: Anything related to earnings presented in this write-up represents funds from operations (FFO) — a widely used metric to gauge the performance of REITs.Biggest Tech Breakthrough in a GenerationBe among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.See 8 breakthrough stocks now>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Duke Realty Corporation (DRE): Free Stock Analysis Report SL Green Realty Corporation (SLG): Free Stock Analysis Report MackCali Realty Corporation (CLI): Free Stock Analysis Report CBRE Group, Inc. (CBRE): Free Stock Analysis Report To read this article on Zacks.com click here.