CBL & Associates Properties, Inc. (NYSE:CBL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Monday.

According to Zacks, “CBL & Associates Properties, Inc. is a fully integrated real estate investment trust which owns, develops, acquires, leases, manages, and operates regional shopping malls, open-air centers, community centers and office properties. The Company conducts substantially all of its business through its operating partnership. It owns two qualified REIT subsidiaries: CBL Holdings I, Inc. and CBL Holdings II, Inc. CBL & Associates Properties is headquartered in Chattanooga, Tennessee. “

CBL has been the topic of several other reports. Citigroup Inc upgraded CBL & Associates Properties from a “sell” rating to a “neutral” rating in a research note on Monday, January 30th. Barclays PLC dropped their price objective on CBL & Associates Properties from $13.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Monday, January 23rd. BTIG Research initiated coverage on CBL & Associates Properties in a research note on Tuesday, January 3rd. They set a “neutral” rating on the stock. Finally, TheStreet upgraded CBL & Associates Properties from a “d+” rating to a “c” rating in a research note on Wednesday, February 1st. Eight analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $12.79.

Analyst Recommendations for CBL & Associates Properties (NYSE:CBL)

CBL & Associates Properties (NYSE:CBL) remained flat at $9.62 during trading on Monday. 1,945,059 shares of the company’s stock traded hands. The company has a 50-day moving average price of $10.18 and a 200 day moving average price of $11.40. CBL & Associates Properties has a 52 week low of $8.86 and a 52 week high of $14.30. The stock has a market capitalization of $1.65 billion, a P/E ratio of 12.83 and a beta of 1.27.

CBL & Associates Properties (NYSE:CBL) last issued its quarterly earnings data on Wednesday, February 1st. The real estate investment trust reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.45. CBL & Associates Properties had a return on equity of 10.25% and a net margin of 16.81%. The business had revenue of $258.49 million for the quarter, compared to analysts’ expectations of $262.42 million. During the same period last year, the business earned $0.71 EPS. The business’s revenue was down 6.9% on a year-over-year basis. Equities research analysts expect that CBL & Associates Properties will post $0.64 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 17th. Investors of record on Thursday, March 30th will be issued a $0.265 dividend. This represents a $1.06 annualized dividend and a yield of 11.02%. The ex-dividend date of this dividend is Tuesday, March 28th. CBL & Associates Properties’s dividend payout ratio (DPR) is currently 141.33%.

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A number of large investors have recently made changes to their positions in CBL. Virginia Retirement Systems ET AL raised its stake in shares of CBL & Associates Properties by 11.6% in the third quarter. Virginia Retirement Systems ET AL now owns 194,100 shares of the real estate investment trust’s stock valued at $2,356,000 after buying an additional 20,100 shares during the period. Capital Fund Management S.A. raised its position in CBL & Associates Properties by 372.2% in the third quarter. Capital Fund Management S.A. now owns 284,765 shares of the real estate investment trust’s stock worth $3,457,000 after buying an additional 224,457 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD bought a new position in CBL & Associates Properties during the third quarter worth $3,953,000. Chicago Equity Partners LLC raised its position in CBL & Associates Properties by 10.0% in the third quarter. Chicago Equity Partners LLC now owns 1,168,730 shares of the real estate investment trust’s stock worth $14,188,000 after buying an additional 106,210 shares during the last quarter. Finally, Arrow Investment Advisors LLC raised its position in CBL & Associates Properties by 33.5% in the third quarter. Arrow Investment Advisors LLC now owns 68,904 shares of the real estate investment trust’s stock worth $836,000 after buying an additional 17,300 shares during the last quarter. 94.92% of the stock is owned by institutional investors.

CBL & Associates Properties Company Profile

CBL & Associates Properties, Inc (CBL) is a self-managed, self-administered, integrated real estate investment trust (REIT). The Company owns, develops, acquires, leases, manages and operates regional shopping malls, open-air and mixed-use centers, outlet centers, associated centers, community centers and office properties.

5 Day Chart for NYSE:CBL

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