CBL & Associates Properties (CBL) Reaches New 52-Week Low on Disappointing Earnings

CBL & Associates Properties, Inc. (NYSE:CBL)’s share price hit a new 52-week low on Tuesday following a dissappointing earnings announcement. The company traded as low as $3.18 and last traded at $3.46, with a volume of 266960 shares trading hands. The stock had previously closed at $3.56.

The real estate investment trust reported $0.02 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.39). CBL & Associates Properties had a return on equity of 1.76% and a net margin of 2.52%. The firm had revenue of $206.88 million for the quarter, compared to analyst estimates of $209.53 million. During the same quarter last year, the company earned $0.50 earnings per share. The company’s quarterly revenue was down 7.9% compared to the same quarter last year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 16th. Stockholders of record on Monday, December 31st will be given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 8.09%. The ex-dividend date is Sunday, December 30th. CBL & Associates Properties’s dividend payout ratio (DPR) is presently 38.46%.

Several equities research analysts have recently weighed in on CBL shares. Stifel Nicolaus increased their price objective on shares of CBL & Associates Properties from $4.25 to $4.75 and gave the stock a “hold” rating in a research report on Thursday, August 2nd. Zacks Investment Research upgraded shares of CBL & Associates Properties from a “sell” rating to a “hold” rating in a research report on Friday, August 3rd. BTIG Research cut shares of CBL & Associates Properties from a “neutral” rating to a “sell” rating in a research report on Tuesday, August 7th. ValuEngine upgraded shares of CBL & Associates Properties from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 8th. Finally, Bank of America decreased their price objective on shares of CBL & Associates Properties from $4.50 to $4.00 and set an “underperform” rating for the company in a research report on Monday, August 13th. Eleven investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. CBL & Associates Properties presently has a consensus rating of “Sell” and a consensus price target of $4.19.

Large investors have recently bought and sold shares of the business. Laurion Capital Management LP acquired a new stake in CBL & Associates Properties in the second quarter worth $1,567,000. Boulegeris Investments Inc. grew its holdings in CBL & Associates Properties by 18.8% in the second quarter. Boulegeris Investments Inc. now owns 293,935 shares of the real estate investment trust’s stock worth $1,637,000 after purchasing an additional 46,420 shares during the period. First Republic Investment Management Inc. acquired a new stake in CBL & Associates Properties in the second quarter worth $4,739,000. Schwab Charles Investment Management Inc. grew its holdings in CBL & Associates Properties by 19.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 3,853,945 shares of the real estate investment trust’s stock worth $21,467,000 after purchasing an additional 638,513 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in CBL & Associates Properties by 2.3% in the first quarter. Principal Financial Group Inc. now owns 1,341,071 shares of the real estate investment trust’s stock worth $5,592,000 after purchasing an additional 29,957 shares during the period. Institutional investors and hedge funds own 75.82% of the company’s stock.

The company has a debt-to-equity ratio of 3.55, a quick ratio of 0.51 and a current ratio of 0.51. The firm has a market capitalization of $574.98 million, a P/E ratio of 1.78, a price-to-earnings-growth ratio of -0.64 and a beta of 0.96.

CBL & Associates Properties Company Profile (NYSE:CBL)

CBL & Associates Properties, Inc is a real estate investment trust, which owns and operates retail properties. The firm engages in owning, developing, acquiring, leasing, managing and operating regional shopping malls, open-air centers, community centers and office properties. It operates through Malls and All Other segments.

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