CBL & Associates Properties (CBL) Trading Down 10.2%

Shares of CBL & Associates Properties, Inc. (NYSE:CBL) traded down 10.2% on Thursday . The company traded as low as $4.90 and last traded at $5.01. 8,457,589 shares were traded during trading, an increase of 130% from the average session volume of 3,677,383 shares. The stock had previously closed at $5.58.

A number of analysts have recently weighed in on the company. Stifel Nicolaus upped their price objective on CBL & Associates Properties from $4.25 to $4.75 and gave the stock a “hold” rating in a research report on Thursday. Zacks Investment Research downgraded shares of CBL & Associates Properties from a “hold” rating to a “sell” rating in a research note on Tuesday, June 19th. BTIG Research reiterated a “hold” rating on shares of CBL & Associates Properties in a research note on Sunday, April 29th. ValuEngine downgraded shares of CBL & Associates Properties from a “sell” rating to a “strong sell” rating in a research note on Monday, July 2nd. Finally, TheStreet downgraded shares of CBL & Associates Properties from a “c-” rating to a “d” rating in a research note on Thursday, April 26th. Ten equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company. CBL & Associates Properties currently has a consensus rating of “Sell” and a consensus target price of $4.50.

The company has a debt-to-equity ratio of 3.35, a quick ratio of 0.51 and a current ratio of 0.51. The company has a market capitalization of $941.01 million, a P/E ratio of 2.41, a price-to-earnings-growth ratio of -1.05 and a beta of 1.14.

CBL & Associates Properties (NYSE:CBL) last issued its earnings results on Wednesday, August 1st. The real estate investment trust reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.04. The firm had revenue of $214.59 million during the quarter, compared to the consensus estimate of $210.72 million. CBL & Associates Properties had a net margin of 9.65% and a return on equity of 5.59%. The company’s revenue was down 6.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.58 earnings per share. research analysts expect that CBL & Associates Properties, Inc. will post 1.74 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, July 16th. Investors of record on Monday, July 2nd were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, June 29th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 15.97%. CBL & Associates Properties’s payout ratio is currently 38.46%.

Hedge funds have recently modified their holdings of the stock. Private Advisor Group LLC acquired a new position in CBL & Associates Properties in the first quarter valued at $107,000. Clinton Group Inc. boosted its stake in CBL & Associates Properties by 182.8% in the first quarter. Clinton Group Inc. now owns 36,461 shares of the real estate investment trust’s stock valued at $152,000 after acquiring an additional 23,566 shares in the last quarter. SG Americas Securities LLC boosted its stake in CBL & Associates Properties by 176.0% in the first quarter. SG Americas Securities LLC now owns 70,633 shares of the real estate investment trust’s stock valued at $295,000 after acquiring an additional 45,045 shares in the last quarter. Sentinel Trust Co. LBA boosted its stake in CBL & Associates Properties by 35.3% in the first quarter. Sentinel Trust Co. LBA now owns 73,885 shares of the real estate investment trust’s stock valued at $308,000 after acquiring an additional 19,275 shares in the last quarter. Finally, Eqis Capital Management Inc. boosted its stake in CBL & Associates Properties by 83.2% in the second quarter. Eqis Capital Management Inc. now owns 57,266 shares of the real estate investment trust’s stock valued at $319,000 after acquiring an additional 26,009 shares in the last quarter. Hedge funds and other institutional investors own 75.72% of the company’s stock.

CBL & Associates Properties Company Profile

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 117 properties totaling 73.4 million square feet across 26 states, including 75 high-quality enclosed, outlet and open-air retail centers and 11 properties managed for third parties.

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