Credit Suisse AG Has $7.15 Million Position in CBL & Associates Properties, Inc. (NYSE:CBL)

Credit Suisse AG boosted its stake in shares of CBL & Associates Properties, Inc. (NYSE:CBL) by 10.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 749,690 shares of the real estate investment trust’s stock after buying an additional 72,287 shares during the period. Credit Suisse AG owned 0.44% of CBL & Associates Properties worth $7,152,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in CBL. Independent Portfolio Consultants Inc. raised its stake in CBL & Associates Properties by 28.0% in the first quarter. Independent Portfolio Consultants Inc. now owns 11,540 shares of the real estate investment trust’s stock valued at $110,000 after buying an additional 2,525 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of CBL & Associates Properties by 10.9% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,881 shares of the real estate investment trust’s stock valued at $113,000 after buying an additional 1,163 shares during the period. Eqis Capital Management Inc. raised its stake in shares of CBL & Associates Properties by 18.2% in the first quarter. Eqis Capital Management Inc. now owns 11,959 shares of the real estate investment trust’s stock valued at $114,000 after buying an additional 1,843 shares during the period. Daiwa Securities Group Inc. raised its stake in shares of CBL & Associates Properties by 29.6% in the first quarter. Daiwa Securities Group Inc. now owns 13,145 shares of the real estate investment trust’s stock valued at $125,000 after buying an additional 3,000 shares during the period. Finally, Fox Run Management L.L.C. bought a new stake in shares of CBL & Associates Properties during the first quarter valued at about $131,000. Institutional investors own 89.47% of the company’s stock.

CBL & Associates Properties, Inc. (NYSE:CBL) opened at 8.73 on Tuesday. The stock has a market capitalization of $1.49 billion, a P/E ratio of 12.30 and a beta of 1.16. CBL & Associates Properties, Inc. has a 1-year low of $7.14 and a 1-year high of $14.30. The stock has a 50 day moving average of $8.06 and a 200 day moving average of $9.64.

CBL & Associates Properties (NYSE:CBL) last issued its quarterly earnings data on Wednesday, May 3rd. The real estate investment trust reported $0.52 EPS for the quarter, missing the Zacks’ consensus estimate of $0.53 by $0.01. The business had revenue of $238.01 million during the quarter, compared to analyst estimates 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 in the previous year, the company posted $0.56 earnings per share. On average, analysts expect that CBL & Associates Properties, Inc. will post $0.60 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 17th. Investors of record on Friday, June 30th were paid a $0.265 dividend. The ex-dividend date was Wednesday, June 28th. This represents a $1.06 dividend on an annualized basis and a yield of 12.14%. CBL & Associates Properties’s payout ratio is 149.30%.

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Several analysts have recently issued reports on the stock. Stifel Nicolaus assumed coverage on shares of CBL & Associates Properties in a research report on Friday. They issued a “hold” rating and a $8.25 target price on the stock. BidaskClub upgraded shares of CBL & Associates Properties from a “sell” rating to a “hold” rating in a research report on Wednesday, June 28th. Barclays PLC reiterated a “hold” rating and issued a $9.00 target price on shares of CBL & Associates Properties in a research report on Friday, June 23rd. Jefferies Group LLC reiterated a “buy” rating and issued a $11.00 target price on shares of CBL & Associates Properties in a research report on Friday, June 16th. Finally, Morgan Stanley reiterated 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. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the company’s stock. CBL & Associates Properties currently has a consensus rating of “Hold” and a consensus target price of $10.84.

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.

Institutional Ownership by Quarter for CBL & Associates Properties (NYSE:CBL)

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