CBL & Associates Properties, Inc. (CBL) Upgraded at ValuEngine

ValuEngine upgraded shares of CBL & Associates Properties, Inc. (NYSE:CBL) from a buy rating to a strong-buy rating in a research report sent to investors on Thursday, May 11th.

Other equities research analysts have also recently issued reports about the company. Zacks Investment Research raised CBL & Associates Properties from a sell rating to a hold rating in a research report on Tuesday, April 4th. Hilliard Lyons cut CBL & Associates Properties to a buy rating and reduced their price objective for the company from $19.00 to $17.50 in a research report on Thursday, May 4th. Citigroup Inc. raised CBL & Associates Properties from a sell rating to a neutral rating in a research report on Monday, January 30th. TheStreet raised CBL & Associates Properties from a d+ rating to a c rating in a research report on Wednesday, February 1st. Finally, Barclays PLC reduced their price objective on CBL & Associates Properties from $13.00 to $10.00 and set an equal weight rating for the company in a research report on Monday, January 23rd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $12.36.

CBL & Associates Properties (NYSE CBL) opened at 8.45 on Thursday. The stock’s 50 day moving average is $8.14 and its 200-day moving average is $9.86. CBL & Associates Properties has a 52-week low of $7.14 and a 52-week high of $14.30. The firm has a market capitalization of $1.45 billion, a PE ratio of 11.90 and a beta of 1.24.

CBL & Associates Properties (NYSE:CBL) last announced 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 company had revenue of $238.01 million for the quarter, compared to the consensus estimate of $244.76 million. CBL & Associates Properties had a return on equity of 9.98% and a net margin of 16.64%. During the same period in the previous year, the company earned $0.56 EPS. Equities analysts expect that CBL & Associates Properties will post $0.56 earnings per share for the current year.

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The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 17th. Shareholders of record on Friday, June 30th will be paid a dividend of $0.265 per share. The ex-dividend date is Wednesday, June 28th. This represents a $1.06 annualized dividend and a yield of 12.54%. CBL & Associates Properties’s dividend payout ratio is currently 149.30%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Independent Portfolio Consultants Inc. raised its position in CBL & Associates Properties by 28.0% in the first quarter. Independent Portfolio Consultants Inc. now owns 11,540 shares of the real estate investment trust’s stock valued at $110,000 after buying an additional 2,525 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised 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 in the last quarter. Eqis Capital Management Inc. raised 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 in the last quarter. Daiwa Securities Group Inc. raised its position in CBL & Associates Properties by 29.6% in the first quarter. Daiwa Securities Group Inc. now owns 13,145 shares of the real estate investment trust’s stock valued at $125,000 after buying an additional 3,000 shares in the last quarter. Finally, Horizon Investments LLC raised its position in CBL & Associates Properties by 1.0% in the fourth quarter. Horizon Investments LLC now owns 11,420 shares of the real estate investment trust’s stock valued at $131,000 after buying an additional 114 shares in the last quarter. Hedge funds and other institutional investors own 93.26% of the company’s stock.

About CBL & Associates Properties

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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