CBL & Associates Properties, Inc. (NYSE:CBL) declared a quarterly dividend on Friday, November 3rd, Wall Street Journal reports. Shareholders of record on Friday, December 29th will be paid a dividend of 0.20 per share by the real estate investment trust on Tuesday, January 16th. This represents a $0.80 annualized dividend and a yield of 13.52%. The ex-dividend date of this dividend is Thursday, December 28th.

CBL & Associates Properties has raised its dividend payment by an average of 5.2% per year over the last three years. CBL & Associates Properties has a payout ratio of 48.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect CBL & Associates Properties to earn $2.18 per share next year, which means the company should continue to be able to cover its $1.06 annual dividend with an expected future payout ratio of 48.6%.

Shares of CBL & Associates Properties (CBL) traded down $1.89 during trading on Friday, reaching $5.92. 31,878,869 shares of the company’s stock traded hands, compared to its average volume of 2,561,377. The company has a market cap of $1.37 billion, a PE ratio of 3.63 and a beta of 1.22.

CBL has been the topic of a number of research reports. Boenning Scattergood restated a “hold” rating on shares of CBL & Associates Properties in a research report on Monday, August 7th. Mizuho restated a “hold” rating and set a $9.00 target price on shares of CBL & Associates Properties in a research report on Monday, October 9th. ValuEngine lowered shares of CBL & Associates Properties from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Stifel Nicolaus restated a “hold” rating and set a $7.50 target price on shares of CBL & Associates Properties in a research report on Friday. Finally, KeyCorp restated a “hold” rating on shares of CBL & Associates Properties in a research report on Wednesday, October 4th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. CBL & Associates Properties has an average rating of “Hold” and a consensus target price of $9.72.

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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.

Dividend History for CBL & Associates Properties (NYSE:CBL)

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