CBL & Associates Properties, Inc. (CBL) Updates FY17 Earnings Guidance
CBL & Associates Properties, Inc. (NYSE:CBL) issued an update on its FY17 earnings guidance on Thursday morning. The company provided earnings per share guidance of $2.08-2.12 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.20.
The company also recently declared a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Monday, October 2nd were given a dividend of $0.265 per share. The ex-dividend date of this dividend was Friday, September 29th. This represents a $1.06 dividend on an annualized basis and a yield of 13.52%. CBL & Associates Properties’s dividend payout ratio (DPR) is currently 179.66%.
A number of analysts have commented on the stock. BidaskClub raised shares of CBL & Associates Properties from a hold rating to a buy rating in a research report on Tuesday, August 1st. Stifel Nicolaus assumed coverage on shares of CBL & Associates Properties in a research report on Friday, July 14th. They set a hold rating and a $8.25 price target on the stock. Zacks Investment Research raised shares of CBL & Associates Properties from a sell rating to a hold rating in a research report on Tuesday, August 15th. KeyCorp reaffirmed a hold rating on shares of CBL & Associates Properties in a research report on Wednesday, October 4th. Finally, ValuEngine raised shares of CBL & Associates Properties from a hold rating to a buy rating in a research report on Monday, October 2nd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $10.22.
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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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