CBL & Associates Properties, Inc. (CBL) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. reduced its stake in shares of CBL & Associates Properties, Inc. (NYSE:CBL) by 3.9% in the second quarter, according to its most recent filing with the SEC. The fund owned 320,756 shares of the real estate investment trust’s stock after selling 12,897 shares during the period. Alliancebernstein L.P. owned approximately 0.19% of CBL & Associates Properties worth $2,704,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of CBL. BlackRock Inc. lifted its holdings in shares of CBL & Associates Properties by 5,739.4% during the 1st quarter. BlackRock Inc. now owns 15,437,415 shares of the real estate investment trust’s stock worth $147,273,000 after acquiring an additional 15,173,049 shares during the last quarter. Forward Management LLC purchased a new position in CBL & Associates Properties in the 2nd quarter worth $25,165,000. Denver Investment Advisors LLC raised its position in CBL & Associates Properties by 136.6% in the 2nd quarter. Denver Investment Advisors LLC now owns 3,696,445 shares of the real estate investment trust’s stock worth $31,161,000 after purchasing an additional 2,134,359 shares during the period. Vanguard Group Inc. raised its position in CBL & Associates Properties by 5.5% in the 1st quarter. Vanguard Group Inc. now owns 34,755,930 shares of the real estate investment trust’s stock worth $331,572,000 after purchasing an additional 1,803,571 shares during the period. Finally, Principal Financial Group Inc. raised its position in CBL & Associates Properties by 6,402.3% in the 2nd quarter. Principal Financial Group Inc. now owns 1,322,120 shares of the real estate investment trust’s stock worth $11,146,000 after purchasing an additional 1,301,787 shares during the period. 89.46% of the stock is owned by institutional investors.

CBL & Associates Properties, Inc. (NYSE CBL) opened at 8.47 on Friday. CBL & Associates Properties, Inc. has a 52-week low of $7.15 and a 52-week high of $12.35. The firm has a 50 day moving average of $8.38 and a 200-day moving average of $8.56. The stock has a market cap of $1.45 billion, a PE ratio of 14.40 and a beta of 1.18.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, October 2nd will be issued a $0.265 dividend. The ex-dividend date of this dividend is Friday, September 29th. This represents a $1.06 annualized dividend and a dividend yield of 12.51%. CBL & Associates Properties’s dividend payout ratio (DPR) is presently 179.66%.

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A number of equities analysts recently commented on CBL shares. 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. 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. BidaskClub upgraded shares of CBL & Associates Properties from a “sell” rating to a “hold” rating in a research report on Wednesday, June 28th. Stifel Nicolaus started coverage on shares of CBL & Associates Properties in a research report on Friday, July 14th. They issued a “hold” rating and a $8.25 target price on the stock. Finally, Boenning Scattergood reiterated a “hold” rating on shares of CBL & Associates Properties in a research report on Monday, August 7th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $10.22.

CBL & Associates Properties Profile

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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