Traders bought shares of CBL & Associates Properties, Inc. (NYSE:CBL) on weakness during trading on Friday. $45.38 million flowed into the stock on the tick-up and $28.32 million flowed out of the stock on the tick-down, for a money net flow of $17.06 million into the stock. Of all companies tracked, CBL & Associates Properties had the 29th highest net in-flow for the day. CBL & Associates Properties traded down ($2.07) for the day and closed at $5.92
Several brokerages have issued reports on CBL. BidaskClub upgraded CBL & Associates Properties from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Stifel Nicolaus began coverage on CBL & Associates Properties in a report on Friday, July 14th. They issued a “hold” rating and a $8.25 price target for the company. Bank of America Corporation downgraded CBL & Associates Properties from a “neutral” rating to an “underperform” rating and set a $6.50 price target for the company. in a report on Friday. Wells Fargo & Company downgraded CBL & Associates Properties from a “market perform” rating to an “underperform” rating in a report on Friday. Finally, Zacks Investment Research upgraded CBL & Associates Properties from a “sell” rating to a “hold” rating in a report on Tuesday, August 15th. Four analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $9.72.
The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 3.27. The firm has a market capitalization of $1.37 billion, a price-to-earnings ratio of 3.63, a PEG ratio of 1.27 and a beta of 1.22.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 13.51%. CBL & Associates Properties’s payout ratio is presently 165.63%.
Hedge funds have recently bought and sold shares of the business. Piedmont Investment Advisors LLC bought a new position in CBL & Associates Properties in the second quarter valued at approximately $312,000. Ray Gerald L & Associates Ltd. grew its stake in CBL & Associates Properties by 8.3% in the second quarter. Ray Gerald L & Associates Ltd. now owns 439,106 shares of the real estate investment trust’s stock valued at $3,701,000 after purchasing an additional 33,705 shares in the last quarter. Comerica Bank grew its stake in CBL & Associates Properties by 45.5% in the second quarter. Comerica Bank now owns 414,176 shares of the real estate investment trust’s stock valued at $3,653,000 after purchasing an additional 129,570 shares in the last quarter. BNP Paribas Arbitrage SA grew its stake in CBL & Associates Properties by 1,153.0% in the second quarter. BNP Paribas Arbitrage SA now owns 163,878 shares of the real estate investment trust’s stock valued at $1,381,000 after purchasing an additional 150,799 shares in the last quarter. Finally, PVG Asset Management Corp grew its stake in CBL & Associates Properties by 71.3% in the second quarter. PVG Asset Management Corp now owns 824,962 shares of the real estate investment trust’s stock valued at $6,954,000 after purchasing an additional 343,436 shares in the last quarter. Hedge funds and other institutional investors own 89.46% of the company’s stock.
TRADEMARK VIOLATION WARNING: “Investors Buy Shares of CBL & Associates Properties, Inc. (CBL) on Weakness” was published by Community Financial News and is the property of of Community Financial News. If you are reading this piece of content on another domain, it was illegally copied and republished in violation of international copyright & trademark law. The legal version of this piece of content can be read at https://www.com-unik.info/2017/11/04/investors-buy-shares-of-cbl-associates-properties-inc-cbl-on-weakness.html.
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.
What are top analysts saying about CBL & Associates Properties Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for CBL & Associates Properties Inc. and related companies.