CBL & Associates Properties (CBL) Downgraded by Zacks Investment Research

CBL & Associates Properties (NYSE:CBL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday.

According to Zacks, “CBL & Associates Properties, Inc. is a fully integrated real estate investment trust which owns, develops, acquires, leases, manages, and operates regional shopping malls, open-air centers, community centers and office properties. The Company conducts substantially all of its business through its operating partnership. It owns two qualified REIT subsidiaries: CBL Holdings I, Inc. and CBL Holdings II, Inc. CBL & Associates Properties is headquartered in Chattanooga, Tennessee. “

Other equities research analysts have also recently issued research reports about the stock. ValuEngine upgraded shares of CBL & Associates Properties from a “sell” rating to a “hold” rating in a research note on Wednesday, August 15th. Bank of America reduced their target price on shares of CBL & Associates Properties from $4.50 to $4.00 and set an “underperform” rating for the company in a research note on Monday, August 13th. Stifel Nicolaus increased their target price on shares of CBL & Associates Properties from $4.25 to $4.75 and gave the company a “hold” rating in a research note on Thursday, August 2nd. Finally, BTIG Research cut shares of CBL & Associates Properties from a “neutral” rating to a “sell” rating in a research note on Tuesday, August 7th. Eleven 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 target price of $4.19.

CBL stock opened at $3.30 on Tuesday. The company has a debt-to-equity ratio of 3.55, a current ratio of 0.45 and a quick ratio of 0.51. CBL & Associates Properties has a 52-week low of $3.18 and a 52-week high of $8.04. The stock has a market cap of $640.60 million, a price-to-earnings ratio of 2.02, a PEG ratio of -0.71 and a beta of 0.96.

CBL & Associates Properties (NYSE:CBL) last released its quarterly earnings results on Monday, October 29th. The real estate investment trust reported $0.02 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.39). CBL & Associates Properties had a net margin of 1.39% and a return on equity of 1.29%. The firm had revenue of $206.88 million for the quarter, compared to the consensus estimate of $209.53 million. During the same quarter last year, the company earned $0.50 earnings per share. The firm’s revenue was down 7.9% on a year-over-year basis. As a group, equities analysts anticipate that CBL & Associates Properties will post 1.74 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position in CBL & Associates Properties by 8.1% in the second quarter. BlackRock Inc. now owns 29,029,587 shares of the real estate investment trust’s stock worth $161,695,000 after purchasing an additional 2,168,991 shares in the last quarter. Global X Management Co LLC acquired a new position in CBL & Associates Properties in the second quarter worth about $8,081,000. First Republic Investment Management Inc. acquired a new position in CBL & Associates Properties in the second quarter worth about $4,739,000. Schwab Charles Investment Management Inc. raised its position 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 in the last quarter. Finally, Orinda Asset Management LLC acquired a new position in CBL & Associates Properties in the second quarter worth about $2,834,000. Institutional investors and hedge funds own 75.82% of the company’s stock.

CBL & Associates Properties Company Profile

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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