CBL & Associates Properties, Inc. (CBL) Lowered to “Neutral” at Hilliard Lyons

Hilliard Lyons downgraded shares of CBL & Associates Properties, Inc. (NYSE:CBL) from a long-term buy rating to a neutral rating in a report published on Friday morning.

Several other equities analysts have also recently weighed in on the company. Boenning Scattergood cut CBL & Associates Properties from a neutral rating to an under perform rating in a report on Friday. Wells Fargo & Company cut CBL & Associates Properties from a market perform rating to an underperform rating in a report on Friday. Bank of America Corporation cut CBL & Associates Properties from a neutral rating to an underperform rating and set a $6.50 price target on the stock. in a report on Friday. Mizuho reissued a hold rating and set a $9.00 price target on shares of CBL & Associates Properties in a report on Monday, October 9th. Finally, KeyCorp reissued a hold rating on shares of CBL & Associates Properties in a report on Wednesday, October 4th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company’s stock. CBL & Associates Properties presently has a consensus rating of Hold and a consensus target price of $9.72.

CBL & Associates Properties (CBL) traded down $1.88 during midday trading on Friday, hitting $5.92. The stock had a trading volume of 33,836,772 shares, compared to its average volume of 2,561,377. The stock has a market capitalization of $1.37 billion, a P/E ratio of 3.63, a PEG ratio of 1.27 and a beta of 1.22. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.57 and a current ratio of 0.57.

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The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be issued a $0.20 dividend. The ex-dividend date is Thursday, December 28th. This represents a $0.80 dividend on an annualized basis and a yield of 13.51%. CBL & Associates Properties’s dividend payout ratio is currently 165.63%.

Institutional investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company increased its stake in CBL & Associates Properties by 0.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 130,548 shares of the real estate investment trust’s stock worth $1,101,000 after buying an additional 404 shares in the last quarter. Virginia Retirement Systems ET AL increased its stake in CBL & Associates Properties by 1.7% in the 2nd quarter. Virginia Retirement Systems ET AL now owns 35,800 shares of the real estate investment trust’s stock worth $302,000 after buying an additional 600 shares in the last quarter. Utah Retirement Systems increased its stake in CBL & Associates Properties by 3.1% in the 2nd quarter. Utah Retirement Systems now owns 29,838 shares of the real estate investment trust’s stock worth $252,000 after buying an additional 900 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in CBL & Associates Properties by 8.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,908 shares of the real estate investment trust’s stock worth $109,000 after buying an additional 1,027 shares in the last quarter. Finally, Mirador Capital Partners LP increased its stake in CBL & Associates Properties by 4.4% in the 2nd quarter. Mirador Capital Partners LP now owns 28,289 shares of the real estate investment trust’s stock worth $246,000 after buying an additional 1,188 shares in the last quarter. 89.46% of the stock is currently owned by institutional investors.

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.

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