Investors Buy Shares of CBL & Associates Properties, Inc. (CBL) on Weakness

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.

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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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