Analysts Set CBL & Associates Properties, Inc. (NYSE:CBL) PT at $1.41

Shares of CBL & Associates Properties, Inc. (NYSE:CBL) have received a consensus rating of “Hold” from the six research firms that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and one has given a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $1.41.

A number of equities analysts have commented on the stock. Zacks Investment Research downgraded shares of CBL & Associates Properties from a “hold” rating to a “sell” rating in a research report on Thursday, December 5th. ValuEngine upgraded shares of CBL & Associates Properties from a “hold” rating to a “buy” rating in a research report on Friday, January 3rd.

NYSE:CBL traded down $0.02 during trading hours on Tuesday, reaching $0.99. 27,828 shares of the company’s stock were exchanged, compared to its average volume of 1,203,509. The firm has a market capitalization of $173.50 million, a price-to-earnings ratio of -0.88 and a beta of 1.54. The company has a 50-day moving average of $1.05 and a 200 day moving average of $1.16. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 4.57. CBL & Associates Properties has a 1-year low of $0.77 and a 1-year high of $2.61.

CBL & Associates Properties (NYSE:CBL) last issued its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported ($0.26) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.19). The business had revenue of $187.25 million for the quarter, compared to analyst estimates of $191.77 million. CBL & Associates Properties had a negative return on equity of 14.39% and a negative net margin of 19.09%. Research analysts forecast that CBL & Associates Properties will post 1.34 EPS for the current fiscal year.

In related news, Director Michael L. Ashner purchased 1,000,000 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was acquired at an average price of $1.04 per share, for a total transaction of $1,040,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 12.31% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in CBL. Luxor Capital Group LP purchased a new position in shares of CBL & Associates Properties in the 3rd quarter valued at about $8,946,000. Renaissance Technologies LLC increased its holdings in shares of CBL & Associates Properties by 94.1% in the 2nd quarter. Renaissance Technologies LLC now owns 3,247,600 shares of the real estate investment trust’s stock valued at $3,378,000 after purchasing an additional 1,574,800 shares in the last quarter. Millennium Management LLC increased its holdings in shares of CBL & Associates Properties by 173.6% in the 3rd quarter. Millennium Management LLC now owns 996,591 shares of the real estate investment trust’s stock valued at $1,285,000 after purchasing an additional 632,315 shares in the last quarter. Wealthstreet Investment Advisors LLC increased its holdings in shares of CBL & Associates Properties by 164.7% in the 4th quarter. Wealthstreet Investment Advisors LLC now owns 885,668 shares of the real estate investment trust’s stock valued at $930,000 after purchasing an additional 551,062 shares in the last quarter. Finally, Marshall Wace North America L.P. increased its holdings in shares of CBL & Associates Properties by 420.4% in the 2nd quarter. Marshall Wace North America L.P. now owns 437,270 shares of the real estate investment trust’s stock valued at $455,000 after purchasing an additional 353,238 shares in the last quarter. Institutional investors and hedge funds own 66.71% of the company’s stock.

CBL & Associates Properties Company Profile

Headquartered in Chattanooga, TN, CBL Properties owns and manages a national portfolio of market-dominant properties located in dynamic and growing communities. CBL's portfolio is comprised of 114 properties totaling 71.1 million square feet across 26 states, including 71 high-quality enclosed, outlet and open-air retail centers and 11 properties managed for third parties.

Further Reading: Asset Allocation, Balancing Your Investments

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