Brokerages Expect CBL & Associates Properties, Inc. (CBL) to Post $0.54 Earnings Per Share
Analysts expect CBL & Associates Properties, Inc. (NYSE:CBL) to announce earnings of $0.54 per share for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for CBL & Associates Properties’ earnings. The lowest EPS estimate is $0.53 and the highest is $0.55. CBL & Associates Properties posted earnings of ($0.05) per share in the same quarter last year, which would suggest a positive year over year growth rate of 1,180%. The firm is expected to report its next earnings report after the market closes on Thursday, November 2nd.
On average, analysts expect that CBL & Associates Properties will report full-year earnings of $2.18 per share for the current financial year, with EPS estimates ranging from $2.15 to $2.27. For the next financial year, analysts expect that the firm will post earnings of $2.18 per share, with EPS estimates ranging from $2.04 to $2.23. Zacks’ EPS calculations are a mean average based on a survey of research analysts that follow CBL & Associates Properties.
CBL has been the topic of several research analyst reports. BidaskClub upgraded shares of CBL & Associates Properties from a “sell” rating to a “hold” rating in a research report on Wednesday, June 28th. Boenning Scattergood reaffirmed a “hold” rating on shares of CBL & Associates Properties in a report on Monday, August 7th. ValuEngine downgraded shares of CBL & Associates Properties from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Barclays PLC reaffirmed a “hold” rating and set a $9.00 price objective on shares of CBL & Associates Properties in a report on Friday, June 23rd. Finally, KeyCorp reaffirmed a “hold” rating on shares of CBL & Associates Properties in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company. CBL & Associates Properties has a consensus rating of “Hold” and an average price target of $10.39.
CBL & Associates Properties (CBL) traded up 0.82% during trading on Thursday, reaching $8.56. 2,580,198 shares of the company’s stock were exchanged. CBL & Associates Properties has a 1-year low of $7.15 and a 1-year high of $12.35. The company’s 50-day moving average is $8.31 and its 200-day moving average is $8.59. The company has a market capitalization of $1.46 billion, a PE ratio of 14.56 and a beta of 1.18.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, October 2nd will be issued a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 12.38%. The ex-dividend date is Friday, September 29th. CBL & Associates Properties’s dividend payout ratio is currently 179.66%.
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A number of hedge funds have recently made changes to their positions in the stock. Brookfield Asset Management Inc. lifted its holdings in CBL & Associates Properties by 12.7% during the 2nd quarter. Brookfield Asset Management Inc. now owns 14,811,925 shares of the real estate investment trust’s stock valued at $124,865,000 after purchasing an additional 1,665,655 shares during the last quarter. WFG Advisors LP bought a new position in shares of CBL & Associates Properties in the second quarter worth about $124,000. Public Employees Retirement System of Ohio raised its stake in shares of CBL & Associates Properties by 12.4% in the second quarter. Public Employees Retirement System of Ohio now owns 237,507 shares of the real estate investment trust’s stock worth $2,002,000 after acquiring an additional 26,151 shares during the last quarter. Koch Industries Inc. bought a new position in shares of CBL & Associates Properties in the second quarter worth about $537,000. Finally, Piedmont Investment Advisors LLC bought a new position in shares of CBL & Associates Properties in the second quarter worth about $312,000. 89.46% of the stock is owned by hedge funds and other institutional investors.
About CBL & Associates Properties
CBL & Associates Properties, Inc is a self-managed, self-administered, integrated real estate investment trust. 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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