CBL & Associates Properties Inc. (NYSE:CBL) saw strong trading volume on Wednesday . 3,753,948 shares traded hands during mid-day trading, an increase of 11% from the previous session’s volume of 3,368,582 shares.The stock last traded at $12.00 and had previously closed at $12.47.

A number of equities research analysts have recently weighed in on the company. Goldman Sachs Group Inc. downgraded CBL & Associates Properties to a “neutral” rating in a research note on Friday, July 15th. Jefferies Group reaffirmed a “buy” rating on shares of CBL & Associates Properties in a research note on Tuesday, September 13th. Canaccord Genuity reaffirmed a “hold” rating on shares of CBL & Associates Properties in a research note on Friday, August 12th. Mizuho raised their price target on CBL & Associates Properties from $13.00 to $14.00 and gave the stock a “neutral” rating in a research note on Monday, August 15th. Finally, Citigroup Inc. raised their price target on CBL & Associates Properties from $11.00 to $11.50 and gave the stock a “neutral” rating in a research note on Friday, August 5th. One analyst has rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company’s stock. CBL & Associates Properties presently has a consensus rating of “Hold” and a consensus target price of $13.61.

The firm has a market cap of $2.11 billion, a PE ratio of 28.72 and a beta of 1.70. The stock’s 50 day moving average price is $12.99 and its 200-day moving average price is $11.52.

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CBL & Associates Properties (NYSE:CBL) last issued its earnings results on Thursday, July 28th. The real estate investment trust reported $0.59 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.03. The company earned $254.97 million during the quarter, compared to the consensus estimate of $246.78 million. CBL & Associates Properties had a return on equity of 6.36% and a net margin of 11.18%. The firm’s revenue for the quarter was up .4% compared to the same quarter last year. During the same period last year, the business posted $0.54 EPS. On average, equities research analysts forecast that CBL & Associates Properties Inc. will post $2.38 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be paid a $0.265 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $1.06 annualized dividend and a dividend yield of 8.58%. CBL & Associates Properties’s dividend payout ratio is presently 252.38%.

Several hedge funds have recently modified their holdings of the stock. Springbok Capital Management LLC increased its stake in shares of CBL & Associates Properties by 8.7% in the first quarter. Springbok Capital Management LLC now owns 10,410 shares of the real estate investment trust’s stock valued at $124,000 after buying an additional 830 shares in the last quarter. Nuveen Asset Management LLC purchased a new stake in shares of CBL & Associates Properties during the second quarter valued at approximately $104,000. Boothbay Fund Management LLC purchased a new stake in shares of CBL & Associates Properties during the first quarter valued at approximately $135,000. Stifel Financial Corp purchased a new stake in shares of CBL & Associates Properties during the second quarter valued at approximately $114,000. Finally, Nuveen Fund Advisors LLC purchased a new stake in shares of CBL & Associates Properties during the second quarter valued at approximately $118,000. Institutional investors own 92.62% of the company’s stock.

CBL & Associates Properties Company Profile

CBL & Associates Properties, Inc (CBL) is a self-managed, self-administered, integrated real estate investment trust (REIT). The Company owns, develops, acquires, leases, manages and operates regional shopping malls, open-air and mixed-use centers, outlet centers, associated centers, community centers and office properties.

5 Day Chart for NYSE:CBL

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