CBL & Associates Properties (CBL) Earns Hold Rating from Barclays

Barclays reissued their hold rating on shares of CBL & Associates Properties (NYSE:CBL) in a research note issued to investors on Thursday morning. The brokerage currently has a $3.00 target price on the real estate investment trust’s stock.

Other equities analysts have also issued research reports about the company. ValuEngine raised CBL & Associates Properties from a sell rating to a hold rating in a research note on Friday, March 1st. Zacks Investment Research raised CBL & Associates Properties from a sell rating to a hold rating in a research note on Tuesday, January 15th. Stifel Nicolaus reissued a neutral rating on shares of CBL & Associates Properties in a research note on Monday, February 11th. Wells Fargo & Co reissued a sell rating on shares of CBL & Associates Properties in a research note on Tuesday, February 12th. Finally, Mizuho set a $2.00 target price on CBL & Associates Properties and gave the company a sell rating in a research note on Sunday, December 16th. Seven investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. CBL & Associates Properties currently has a consensus rating of Sell and an average target price of $3.29.

NYSE:CBL opened at $1.81 on Thursday. CBL & Associates Properties has a 1-year low of $1.78 and a 1-year high of $6.26. The stock has a market capitalization of $313.97 million, a price-to-earnings ratio of 1.05, a P/E/G ratio of -0.33 and a beta of 1.46.

CBL & Associates Properties (NYSE:CBL) last released its earnings results on Thursday, February 7th. The real estate investment trust reported $0.45 earnings per share for the quarter, meeting the consensus estimate of $0.45. CBL & Associates Properties had a negative return on equity of 6.84% and a negative net margin of 9.33%. The firm had revenue of $216.90 million for the quarter, compared to analyst estimates of $216.50 million. During the same quarter in the prior year, the firm posted $0.56 earnings per share. The company’s quarterly revenue was down 7.8% on a year-over-year basis. Equities research analysts expect that CBL & Associates Properties will post 1.43 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st will be issued a $0.075 dividend. The ex-dividend date is Friday, March 29th. This represents a $0.30 annualized dividend and a dividend yield of 16.57%. CBL & Associates Properties’s dividend payout ratio (DPR) is currently 17.34%.

Several institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC increased its holdings in shares of CBL & Associates Properties by 7.2% in the fourth quarter. Geode Capital Management LLC now owns 2,290,809 shares of the real estate investment trust’s stock worth $4,397,000 after acquiring an additional 154,764 shares in the last quarter. Norges Bank bought a new stake in shares of CBL & Associates Properties in the fourth quarter worth about $3,951,000. Coldstream Capital Management Inc. bought a new stake in shares of CBL & Associates Properties in the fourth quarter worth about $34,000. CWM Advisors LLC increased its holdings in shares of CBL & Associates Properties by 46.3% in the fourth quarter. CWM Advisors LLC now owns 38,074 shares of the real estate investment trust’s stock worth $73,000 after acquiring an additional 12,055 shares in the last quarter. Finally, Public Employees Retirement System of Ohio increased its holdings in shares of CBL & Associates Properties by 2.4% in the fourth quarter. Public Employees Retirement System of Ohio now owns 236,246 shares of the real estate investment trust’s stock worth $454,000 after acquiring an additional 5,506 shares in the last quarter. Institutional investors own 77.09% of the company’s stock.

About CBL & Associates Properties

Headquartered in Chattanooga, TN, CBL Properties owns and manages a national portfolio of market-dominant properties located in dynamic and growing communities. CBL's portfolio is comprised of 114 properties totaling 71.9 million square feet across 26 states, including 73 high-quality enclosed, outlet and open-air retail centers and 12 properties managed for third parties.

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Analyst Recommendations for CBL & Associates Properties (NYSE:CBL)

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