CBL & Associates Properties, Inc. (NYSE:CBL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Monday.

According to Zacks, “CBL & Associates Properties, Inc. is a fully integrated real estate investment trust which owns, develops, acquires, leases, manages, and operates regional shopping malls, open-air centers, community centers and office properties. The Company conducts substantially all of its business through its operating partnership. It owns two qualified REIT subsidiaries: CBL Holdings I, Inc. and CBL Holdings II, Inc. CBL & Associates Properties is headquartered in Chattanooga, Tennessee. “

Several other research firms also recently issued reports on CBL. Citigroup Inc downgraded CBL & Associates Properties from a “neutral” rating to a “sell” rating and set a $11.00 target price on the stock. in a research report on Tuesday, December 13th. BTIG Research began coverage on CBL & Associates Properties in a research report on Tuesday, January 3rd. They issued a “neutral” rating on the stock. TheStreet upgraded CBL & Associates Properties from a “d+” rating to a “c” rating in a research report on Wednesday, February 1st. Finally, Barclays PLC lowered their price objective on CBL & Associates Properties from $13.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Monday, January 23rd. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. CBL & Associates Properties presently has an average rating of “Hold” and a consensus target price of $12.79.

Analyst Recommendations for CBL & Associates Properties (NYSE:CBL)

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Shares of CBL & Associates Properties (NYSE:CBL) remained flat at $9.62 on Monday. The stock had a trading volume of 1,945,059 shares. The company’s 50 day moving average price is $10.18 and its 200 day moving average price is $11.40. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of 12.83 and a beta of 1.27. CBL & Associates Properties has a 1-year low of $8.86 and a 1-year high of $14.30.

CBL & Associates Properties (NYSE:CBL) last posted its earnings results on Wednesday, February 1st. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.45. The firm had revenue of $258.49 million for the quarter, compared to the consensus estimate of $262.42 million. CBL & Associates Properties had a return on equity of 10.25% and a net margin of 16.81%. The business’s quarterly revenue was down 6.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.71 earnings per share. Analysts predict that CBL & Associates Properties will post $0.64 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 17th. Investors of record on Thursday, March 30th will be given a $0.265 dividend. The ex-dividend date of this dividend is Tuesday, March 28th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 11.02%. CBL & Associates Properties’s dividend payout ratio (DPR) is presently 141.33%.

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Several large investors have recently modified their holdings of CBL. BlackRock Japan Co. Ltd increased its stake in shares of CBL & Associates Properties by 3.5% in the third quarter. BlackRock Japan Co. Ltd now owns 8,269 shares of the real estate investment trust’s stock worth $100,000 after buying an additional 279 shares during the period. Horizon Investments LLC increased its stake in shares of CBL & Associates Properties by 1.0% in the fourth quarter. Horizon Investments LLC now owns 11,420 shares of the real estate investment trust’s stock worth $131,000 after buying an additional 114 shares during the period. New York State Teachers Retirement System increased its stake in shares of CBL & Associates Properties by 1.4% in the fourth quarter. New York State Teachers Retirement System now owns 14,900 shares of the real estate investment trust’s stock worth $171,000 after buying an additional 200 shares during the period. ARP Americas LLC acquired a new stake in shares of CBL & Associates Properties during the fourth quarter worth about $177,000. Finally, Shinko Asset Management Co. Ltd. increased its stake in shares of CBL & Associates Properties by 42.0% in the third quarter. Shinko Asset Management Co. Ltd. now owns 16,900 shares of the real estate investment trust’s stock worth $205,000 after buying an additional 5,000 shares during the period. Institutional investors own 94.92% 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.

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