CBL & Associates Properties (CBL) Trading Down 11.1%

CBL & Associates Properties, Inc. (NYSE:CBL)’s share price was down 11.1% on Wednesday . The stock traded as low as $3.25 and last traded at $3.30. Approximately 7,764,733 shares were traded during trading, an increase of 110% from the average daily volume of 3,694,760 shares. The stock had previously closed at $3.71.

Several equities analysts recently weighed in on CBL shares. ValuEngine raised shares of CBL & Associates Properties from a “sell” rating to a “hold” rating in a research report on Wednesday, August 15th. Zacks Investment Research raised shares of CBL & Associates Properties from a “sell” rating to a “hold” rating in a research report on Friday, August 3rd. Stifel Nicolaus raised their price objective on shares of CBL & Associates Properties from $4.25 to $4.75 and gave the company a “hold” rating in a research report on Thursday, August 2nd. BTIG Research lowered shares of CBL & Associates Properties from a “neutral” rating to a “sell” rating in a research report on Tuesday, August 7th. Finally, Bank of America cut their price objective on shares of CBL & Associates Properties from $4.50 to $4.00 and set an “underperform” rating on the stock 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 stock. CBL & Associates Properties has a consensus rating of “Sell” and a consensus target price of $4.19.

The stock has a market cap of $640.60 million, a P/E ratio of 2.02, a P/E/G ratio of -0.71 and a beta of 0.96. The company has a current ratio of 0.45, a quick ratio of 0.51 and a debt-to-equity ratio of 3.55.

CBL & Associates Properties (NYSE:CBL) last released its quarterly earnings results on Monday, October 29th. The real estate investment trust reported $0.02 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 during the quarter, compared to the consensus estimate of $209.53 million. During the same period in the prior year, the business earned $0.50 EPS. The company’s revenue for the quarter was down 7.9% compared to the same quarter last year. On average, equities analysts anticipate that CBL & Associates Properties, Inc. will post 1.74 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 16th. Stockholders of record on Monday, December 31st will be given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 9.09%. The ex-dividend date is Sunday, December 30th. CBL & Associates Properties’s dividend payout ratio is 38.46%.

Several large investors have recently added to or reduced their stakes in CBL. Wells Fargo & Company MN raised its position in shares of CBL & Associates Properties by 5.7% in the first quarter. Wells Fargo & Company MN now owns 320,535 shares of the real estate investment trust’s stock valued at $1,337,000 after purchasing an additional 17,335 shares during the period. Principal Financial Group Inc. raised its position in shares of 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 valued at $5,592,000 after purchasing an additional 29,957 shares during the period. UBS Group AG raised its position in shares of CBL & Associates Properties by 10.1% in the first quarter. UBS Group AG now owns 616,595 shares of the real estate investment trust’s stock valued at $2,571,000 after purchasing an additional 56,572 shares during the period. Royal Bank of Canada raised its position in shares of CBL & Associates Properties by 18.4% in the first quarter. Royal Bank of Canada now owns 501,604 shares of the real estate investment trust’s stock valued at $2,093,000 after purchasing an additional 78,117 shares during the period. Finally, Nisa Investment Advisors LLC raised its position in shares of CBL & Associates Properties by 59.7% in the second quarter. Nisa Investment Advisors LLC now owns 172,360 shares of the real estate investment trust’s stock valued at $960,000 after purchasing an additional 64,400 shares during the period. 75.82% of the stock is currently owned by institutional investors.

About CBL & Associates Properties (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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