Stifel Nicolaus initiated coverage on shares of CBL & Associates Properties, Inc. (NYSE:CBL) in a report issued on Friday, July 14th, Marketbeat reports. The firm issued a hold rating and a $8.25 target price on the real estate investment trust’s stock.
A number of other analysts have also commented on the company. BidaskClub raised CBL & Associates Properties from a sell rating to a hold rating in a report on Wednesday, June 28th. Barclays PLC reissued a hold rating and issued a $9.00 target price on shares of CBL & Associates Properties in a report on Friday, June 23rd. Jefferies Group LLC restated a buy rating and issued a $11.00 price target on shares of CBL & Associates Properties in a research note on Friday, June 16th. Morgan Stanley restated an underweight rating and issued a $6.00 price target (down from $10.00) on shares of CBL & Associates Properties in a research note on Saturday, June 3rd. Finally, ValuEngine downgraded CBL & Associates Properties from a buy rating to a hold rating in a research note on Friday, June 2nd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company. CBL & Associates Properties presently has a consensus rating of Hold and an average price target of $10.84.
Shares of CBL & Associates Properties (NYSE:CBL) traded up 4.07% during midday trading on Friday, hitting $8.69. 8,656,814 shares of the stock traded hands. The company has a market capitalization of $1.49 billion, a P/E ratio of 12.24 and a beta of 1.17. The stock has a 50 day moving average of $8.60 and a 200 day moving average of $9.18. CBL & Associates Properties has a 1-year low of $7.14 and a 1-year high of $14.30.
CBL & Associates Properties (NYSE:CBL) last posted its quarterly earnings data on Wednesday, May 3rd. The real estate investment trust reported $0.52 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.53 by $0.01. The company had revenue of $238.01 million for the quarter, compared to the consensus estimate of $244.76 million. CBL & Associates Properties had a net margin of 14.88% and a return on equity of 9.38%. During the same period last year, the business earned $0.56 EPS. Equities research analysts predict that CBL & Associates Properties will post $0.60 earnings per share for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which was paid on Monday, July 17th. Shareholders of record on Friday, June 30th were paid a dividend of $0.265 per share. The ex-dividend date was Wednesday, June 28th. This represents a $1.06 annualized dividend and a yield of 12.20%. CBL & Associates Properties’s payout ratio is currently 179.66%.
A number of large investors have recently modified their holdings of CBL. Vanguard Group Inc. boosted its stake in shares of CBL & Associates Properties by 5.5% in the first quarter. Vanguard Group Inc. now owns 34,755,930 shares of the real estate investment trust’s stock valued at $331,572,000 after buying an additional 1,803,571 shares during the last quarter. BlackRock Inc. boosted its stake in shares of CBL & Associates Properties by 5,739.4% in the first quarter. BlackRock Inc. now owns 15,437,415 shares of the real estate investment trust’s stock valued at $147,273,000 after buying an additional 15,173,049 shares during the last quarter. Brookfield Asset Management Inc. boosted its stake in shares of CBL & Associates Properties by 2.1% in the first quarter. Brookfield Asset Management Inc. now owns 13,146,270 shares of the real estate investment trust’s stock valued at $125,415,000 after buying an additional 273,750 shares during the last quarter. State Street Corp boosted its stake in shares of CBL & Associates Properties by 4.1% in the first quarter. State Street Corp now owns 5,921,888 shares of the real estate investment trust’s stock valued at $56,502,000 after buying an additional 233,155 shares during the last quarter. Finally, Denver Investment Advisors LLC boosted its stake in shares of CBL & Associates Properties by 136.6% in the second quarter. Denver Investment Advisors LLC now owns 3,696,445 shares of the real estate investment trust’s stock valued at $31,161,000 after buying an additional 2,134,359 shares during the last quarter. 90.07% of the stock is currently owned by institutional investors.
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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