State Street Corp Raises Stake in CBL & Associates Properties, Inc. (CBL)

State Street Corp raised its holdings in shares of CBL & Associates Properties, Inc. (NYSE:CBL) by 16.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,874,361 shares of the real estate investment trust’s stock after acquiring an additional 952,473 shares during the quarter. State Street Corp owned approximately 4.02% of CBL & Associates Properties worth $57,954,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the company. Shelton Capital Management bought a new position in shares of CBL & Associates Properties during the 2nd quarter worth approximately $143,000. Royal Bank of Canada grew its stake in shares of CBL & Associates Properties by 8.5% during the 2nd quarter. Royal Bank of Canada now owns 336,801 shares of the real estate investment trust’s stock worth $2,839,000 after acquiring an additional 26,395 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of CBL & Associates Properties by 2.2% during the 2nd quarter. Goldman Sachs Group Inc. now owns 2,325,643 shares of the real estate investment trust’s stock worth $19,605,000 after acquiring an additional 49,946 shares in the last quarter. Steel Canyon Capital LLC bought a new position in shares of CBL & Associates Properties during the 2nd quarter worth approximately $548,000. Finally, Voya Investment Management LLC grew its stake in shares of CBL & Associates Properties by 199.4% during the 2nd quarter. Voya Investment Management LLC now owns 185,970 shares of the real estate investment trust’s stock worth $1,568,000 after acquiring an additional 123,853 shares in the last quarter. 89.46% of the stock is owned by institutional investors.

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The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Monday, October 2nd were paid a $0.265 dividend. The ex-dividend date of this dividend was Friday, September 29th. This represents a $1.06 dividend on an annualized basis and a yield of 13.52%. CBL & Associates Properties’s dividend payout ratio (DPR) is presently 179.66%.

Several brokerages have recently weighed in on CBL. Boenning Scattergood reaffirmed a “hold” rating on shares of CBL & Associates Properties in a research note on Monday, August 7th. Zacks Investment Research raised CBL & Associates Properties from a “sell” rating to a “hold” rating in a report on Tuesday, August 15th. Stifel Nicolaus assumed coverage on CBL & Associates Properties in a report on Friday, July 14th. They issued a “hold” rating and a $8.25 price objective for the company. ValuEngine downgraded CBL & Associates Properties from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Finally, BidaskClub downgraded CBL & Associates Properties from a “buy” rating to a “hold” rating in a report on Monday, August 14th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $10.22.

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.

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

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