CBL & Associates Properties Inc. Hits New 52-Week Low at $18.75 (CBL)
Shares of CBL & Associates Properties (NYSE:CBL) hit a new 52-week low during trading hours on Wednesday, Analyst Ratings Network reports. The company traded as low as $18.75 and last traded at $18.76, with a volume of 1,914,562 shares trading hands. The stock had previously closed at $19.29.
Several analysts have recently commented on the stock. Analysts at Cowen and Company cut their price target on shares of CBL & Associates Properties (NYSE:CBL) from $28.00 to $25.00 in a research note to investors on Thursday, September 12th. They now have a “market perform” rating on the stock. Separately, analysts at Janney Montgomery Scott initiated coverage on shares of CBL & Associates Properties (NYSE:CBL) in a research note to investors on Tuesday, September 10th. They set a “neutral” rating on the stock. Finally, analysts at RBC Capital downgraded shares of CBL & Associates Properties (NYSE:CBL) from an “outperform” rating to a “sector perform” rating in a research note to investors on Tuesday, August 6th. They now have a $23.00 price target on the stock, down previously from $29.00.
Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. CBL & Associates Properties presently has a consensus rating of “Hold” and an average target price of $24.75.
CBL & Associates Properties has a 52-week low of $18.75 and a 52-week high of $26.95. The stock has a 50-day moving average of $19.96 and a 200-day moving average of $22.54. The company has a market cap of $3.228 billion and a price-to-earnings ratio of 44.97.
CBL & Associates Properties (NYSE:CBL) last announced its earnings results on Wednesday, July 31st. The company reported $0.55 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.53 by $0.02. The company had revenue of $262.40 million for the quarter, compared to the consensus estimate of $250.29 million. During the same quarter in the prior year, the company posted $0.53 earnings per share. The company’s quarterly revenue was up 4.2% on a year-over-year basis. On average, analysts predict that CBL & Associates Properties will post $2.21 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, October 16th. Investors of record on Monday, September 30th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 4.77%. The ex-dividend date is Thursday, September 26th.
CBL & Associates Properties, Inc (NYSE:CBL), is a self-managed, self-administered, fully integrated real estate investment trust (REIT).
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