CBL & Associates Properties Rating Lowered to Hold at Stifel Nicolaus (CBL)
CBL & Associates Properties (NYSE:CBL) was downgraded by equities research analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating in a research note issued to investors on Monday, TheFlyOnTheWall.com reports.
Other equities research analysts have also recently issued reports about the stock. Analysts at Jefferies Group initiated coverage on shares of CBL & Associates Properties in a research note to investors on Tuesday, December 17th. They set a “hold” rating and a $19.00 price target on the stock. Separately, analysts at Citigroup Inc. reiterated a “neutral” rating on shares of CBL & Associates Properties in a research note to investors on Monday, December 2nd. They now have a $21.50 price target on the stock, down previously from $23.50. Finally, analysts at RBC Capital cut their price target on shares of CBL & Associates Properties from $23.00 to $21.00 in a research note to investors on Thursday, November 7th. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $22.92.
CBL & Associates Properties (NYSE:CBL) opened at 18.50 on Monday. CBL & Associates Properties has a one year low of $17.41 and a one year high of $26.95. The stock has a 50-day moving average of $18. and a 200-day moving average of $20.0. The company has a market cap of $3.143 billion and a price-to-earnings ratio of 31.55.
CBL & Associates Properties (NYSE:CBL) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.56 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.54 by $0.02. The company had revenue of $257.10 million for the quarter, compared to the consensus estimate of $263.35 million. During the same quarter in the prior year, the company posted $0.54 earnings per share. The company’s quarterly revenue was up 3.2% 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 declared a quarterly dividend, which is scheduled for Wednesday, January 15th. Stockholders of record on Monday, December 30th will be given a dividend of 0.245 per share. This represents a $0.98 dividend on an annualized basis and a yield of 5.30%. The ex-dividend date of this dividend is Thursday, December 26th. This is a boost from CBL & Associates Properties’s previous quarterly dividend of $0.23.
CBL & Associates Properties, Inc (NYSE:CBL), is a self-managed, self-administered, fully integrated real estate investment trust (REIT).
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