CBL & Associates Properties, Inc. (NYSE:CBL) Short Interest Update

CBL & Associates Properties, Inc. (NYSE:CBL) was the target of a significant decline in short interest in the month of July. As of July 15th, there was short interest totalling 42,254,700 shares, a decline of 5.5% from the June 15th total of 44,694,800 shares. Based on an average daily volume of 2,940,000 shares, the short-interest ratio is currently 14.4 days. Approximately 25.3% of the shares of the company are short sold.

Shares of NYSE:CBL opened at $1.05 on Thursday. The company has a fifty day moving average of $1.06. CBL & Associates Properties has a fifty-two week low of $0.77 and a fifty-two week high of $5.79. The company has a market capitalization of $185.62 million, a PE ratio of 0.61, a price-to-earnings-growth ratio of -0.24 and a beta of 1.50. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 4.07.

A number of large investors have recently made changes to their positions in the business. SG Americas Securities LLC grew its stake in CBL & Associates Properties by 39.9% in the second quarter. SG Americas Securities LLC now owns 330,257 shares of the real estate investment trust’s stock valued at $343,000 after purchasing an additional 94,204 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in CBL & Associates Properties by 92.0% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 209,479 shares of the real estate investment trust’s stock valued at $218,000 after purchasing an additional 100,400 shares in the last quarter. Parsec Financial Management Inc. grew its stake in CBL & Associates Properties by 14.2% in the second quarter. Parsec Financial Management Inc. now owns 120,730 shares of the real estate investment trust’s stock valued at $126,000 after purchasing an additional 15,000 shares in the last quarter. State of Alaska Department of Revenue grew its stake in CBL & Associates Properties by 10.1% in the second quarter. State of Alaska Department of Revenue now owns 125,617 shares of the real estate investment trust’s stock valued at $129,000 after purchasing an additional 11,559 shares in the last quarter. Finally, Commonwealth Equity Services LLC grew its stake in CBL & Associates Properties by 14.6% in the second quarter. Commonwealth Equity Services LLC now owns 158,547 shares of the real estate investment trust’s stock valued at $164,000 after purchasing an additional 20,141 shares in the last quarter. Hedge funds and other institutional investors own 76.84% of the company’s stock.

A number of analysts have weighed in on CBL shares. BTIG Research upgraded CBL & Associates Properties from a “sell” rating to a “neutral” rating and set a $0.82 price target on the stock in a research report on Friday, May 31st. Zacks Investment Research cut CBL & Associates Properties from a “hold” rating to a “sell” rating in a research report on Wednesday, June 12th. Wells Fargo & Co reiterated a “sell” rating on shares of CBL & Associates Properties in a research report on Wednesday, June 26th. Barclays reiterated a “hold” rating and issued a $2.00 price target on shares of CBL & Associates Properties in a research report on Tuesday, April 16th. Finally, ValuEngine cut CBL & Associates Properties from a “hold” rating to a “sell” rating in a research report on Thursday, July 18th. Seven equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. CBL & Associates Properties presently has a consensus rating of “Sell” and a consensus price target of $2.60.

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 114 properties totaling 71.1 million square feet across 26 states, including 71 high-quality enclosed, outlet and open-air retail centers and 11 properties managed for third parties.

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