CBL & Associates Properties, Inc. (NYSE:CBL) issued an update on its FY17 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $2.18-2.25 for the period, compared to the Thomson Reuters consensus estimate of $2.19.
Shares of CBL & Associates Properties, Inc. (CBL) traded down 0.71% during midday trading on Thursday, hitting $8.35. 4,221,814 shares of the company’s stock were exchanged. The company has a 50-day moving average of $8.60 and a 200-day moving average of $9.18. CBL & Associates Properties, Inc. has a 52 week low of $7.14 and a 52 week high of $14.30. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of 11.76 and a beta of 1.17.
CBL & Associates Properties (NYSE:CBL) last released its earnings results on Wednesday, May 3rd. The real estate investment trust reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by $0.01. The business had revenue of $238.01 million during the quarter, compared to the consensus estimate of $244.76 million. CBL & Associates Properties had a net margin of 16.64% and a return on equity of 9.98%. During the same period last year, the business posted $0.56 EPS. Equities research analysts expect that CBL & Associates Properties, Inc. will post $0.60 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 17th. Investors of record on Friday, June 30th were given a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 12.69%. The ex-dividend date was Wednesday, June 28th. CBL & Associates Properties’s dividend payout ratio (DPR) is currently 149.30%.
A number of research analysts recently weighed in on CBL shares. ValuEngine raised shares of CBL & Associates Properties from a buy rating to a strong-buy rating in a research report on Thursday, May 11th. BidaskClub raised shares of CBL & Associates Properties from a sell rating to a hold rating in a research report on Wednesday, June 28th. Zacks Investment Research downgraded shares of CBL & Associates Properties from a hold rating to a sell rating in a research report on Monday, April 10th. Morgan Stanley reaffirmed an underweight rating and issued a $6.00 target price (down previously from $10.00) on shares of CBL & Associates Properties in a research report on Saturday, June 3rd. Finally, Boenning Scattergood raised shares of CBL & Associates Properties from an underperform rating to a neutral rating in a research report on Monday, May 15th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of Hold and an average target price of $10.84.
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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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