Geode Capital Management LLC boosted its stake in shares of CBL & Associates Properties, Inc. (NYSE:CBL) by 21.7% during the first quarter, according to its most recent filing with the SEC. The firm owned 2,541,636 shares of the real estate investment trust’s stock after buying an additional 452,803 shares during the period. Geode Capital Management LLC owned approximately 1.49% of CBL & Associates Properties worth $24,246,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in CBL. New York State Teachers Retirement System boosted its position in CBL & Associates Properties by 1.4% in the fourth quarter. New York State Teachers Retirement System now owns 14,900 shares of the real estate investment trust’s stock valued at $171,000 after buying an additional 200 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in CBL & Associates Properties by 0.5% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 188,515 shares of the real estate investment trust’s stock valued at $1,798,000 after buying an additional 978 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in CBL & Associates Properties by 10.9% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,881 shares of the real estate investment trust’s stock valued at $113,000 after buying an additional 1,163 shares during the last quarter. Mirador Capital Partners LP boosted its position in CBL & Associates Properties by 4.9% in the first quarter. Mirador Capital Partners LP now owns 27,101 shares of the real estate investment trust’s stock valued at $259,000 after buying an additional 1,266 shares during the last quarter. Finally, Eqis Capital Management Inc. boosted its position in CBL & Associates Properties by 18.2% in the first quarter. Eqis Capital Management Inc. now owns 11,959 shares of the real estate investment trust’s stock valued at $114,000 after buying an additional 1,843 shares during the last quarter. 90.07% of the stock is currently owned by hedge funds and other institutional investors.

Shares of CBL & Associates Properties, Inc. (CBL) traded up 4.07% during midday trading on Friday, reaching $8.69. The company’s stock had a trading volume of 8,656,814 shares. The stock has a 50-day moving average of $8.60 and a 200 day moving average of $9.18. CBL & Associates Properties, Inc. has a 12-month low of $7.14 and a 12-month high of $14.30. The firm has a market capitalization of $1.49 billion, a P/E ratio of 12.24 and a beta of 1.17.

CBL & Associates Properties (NYSE:CBL) last posted its earnings results on Wednesday, May 3rd. The real estate investment trust reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by $0.01. The business had revenue of $238.01 million for the quarter, compared to analyst estimates of $244.76 million. CBL & Associates Properties had a net margin of 16.64% and a return on equity of 9.98%. During the same quarter in the prior year, the firm earned $0.56 earnings per share. Equities research analysts predict that CBL & Associates Properties, Inc. will post $0.60 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 17th. Shareholders of record on Friday, June 30th were given a $0.265 dividend. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 12.20%. CBL & Associates Properties’s dividend payout ratio (DPR) is currently 149.30%.

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Several research firms have recently weighed in on CBL. Stifel Nicolaus began coverage on CBL & Associates Properties in a report on Friday, July 14th. They set a “hold” rating and a $8.25 price target on the stock. BidaskClub raised CBL & Associates Properties from a “sell” rating to a “hold” rating in a report on Wednesday, June 28th. Barclays PLC restated a “hold” rating and issued a $9.00 price objective on shares of CBL & Associates Properties in a research note on Friday, June 23rd. ValuEngine lowered CBL & Associates Properties from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Jefferies Group LLC restated a “buy” rating and issued a $11.00 price objective on shares of CBL & Associates Properties in a research note on Friday, June 16th. One analyst has rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the stock. CBL & Associates Properties has a consensus rating of “Hold” and a consensus price target of $10.84.

CBL & Associates Properties Company Profile

CBL & Associates Properties, Inc is a self-managed, self-administered, integrated real estate investment trust. 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.

Institutional Ownership by Quarter for CBL & Associates Properties (NYSE:CBL)

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