Insider Buying: CBL & Associates Properties, Inc. (NYSE:CBL) Director Purchases 900,000 Shares of Stock

CBL & Associates Properties, Inc. (NYSE:CBL) Director Michael L. Ashner bought 900,000 shares of the stock in a transaction dated Wednesday, February 26th. The shares were acquired at an average price of $0.51 per share, with a total value of $459,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Michael L. Ashner also recently made the following trade(s):

  • On Friday, January 10th, Michael L. Ashner sold 5,000 shares of CBL & Associates Properties stock. The shares were sold at an average price of $4.62, for a total value of $23,100.00.

Shares of CBL & Associates Properties stock traded up $0.01 during trading hours on Wednesday, hitting $0.52. 3,131,992 shares of the company’s stock traded hands, compared to its average volume of 1,711,911. The stock has a 50 day simple moving average of $0.85 and a 200-day simple moving average of $1.11. The company has a quick ratio of 0.45, a current ratio of 0.56 and a debt-to-equity ratio of 4.57. The company has a market cap of $88.31 million, a PE ratio of -1.08 and a beta of 1.65. CBL & Associates Properties, Inc. has a twelve month low of $0.46 and a twelve month high of $2.20.

CBL & Associates Properties (NYSE:CBL) last announced its earnings results on Thursday, February 6th. The real estate investment trust reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.09). The business had revenue of $189.51 million for the quarter, compared to analyst estimates of $186.64 million. CBL & Associates Properties had a negative net margin of 4.99% and a negative return on equity of 2.44%. As a group, equities research analysts predict that CBL & Associates Properties, Inc. will post 1.07 EPS for the current year.

Several analysts have recently weighed in on the company. ValuEngine downgraded CBL & Associates Properties from a “sell” rating to a “strong sell” rating in a research note on Tuesday, February 4th. Zacks Investment Research downgraded CBL & Associates Properties from a “hold” rating to a “sell” rating in a research note on Monday, February 17th. Three investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. CBL & Associates Properties has a consensus rating of “Sell” and a consensus target price of $1.27.

Several institutional investors have recently made changes to their positions in CBL. Jeereddi Investments LP acquired a new stake in shares of CBL & Associates Properties during the fourth quarter valued at about $25,000. Capital Square LLC acquired a new stake in shares of CBL & Associates Properties during the fourth quarter valued at about $28,000. Tower Research Capital LLC TRC grew its stake in CBL & Associates Properties by 151.7% in the third quarter. Tower Research Capital LLC TRC now owns 26,636 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 16,052 shares in the last quarter. Coldstream Capital Management Inc. acquired a new position in CBL & Associates Properties in the third quarter worth about $35,000. Finally, Triad Investment Management acquired a new position in CBL & Associates Properties in the fourth quarter worth about $37,000. Institutional investors own 69.91% 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.

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