CBL & Associates Properties Inc. (NYSE:CBL) dropped 2.5% on Wednesday . The stock traded as low as $11.75 and last traded at $11.78, with a volume of 2,501,361 shares changing hands. The stock had previously closed at $12.08.

CBL has been the topic of several analyst reports. Mizuho initiated coverage on CBL & Associates Properties in a research report on Wednesday, April 13th. They set a “neutral” rating and a $13.00 price target on the stock. TheStreet upgraded CBL & Associates Properties from a “sell” rating to a “hold” rating in a research report on Wednesday, April 27th. Zacks Investment Research cut CBL & Associates Properties from a “buy” rating to a “hold” rating in a research report on Tuesday, May 3rd. JPMorgan Chase & Co. reiterated a “hold” rating on shares of CBL & Associates Properties in a research report on Thursday, May 5th. Finally, Goldman Sachs Group Inc. cut shares of CBL & Associates Properties from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $12.00 to $10.50 in a research report on Wednesday, June 1st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $12.38.

The firm has a market cap of $2.01 billion and a price-to-earnings ratio of 27.40. The company’s 50-day moving average price is $10.44 and its 200 day moving average price is $10.98.

CBL & Associates Properties (NYSE:CBL) last announced its earnings results on Thursday, July 28th. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.03. During the same period in the previous year, the business posted $0.54 earnings per share. The firm earned $254.97 million during the quarter, compared to analysts’ expectations of $246.78 million. The company’s revenue for the quarter was up .4% on a year-over-year basis. On average, equities analysts predict that CBL & Associates Properties Inc. will post $2.36 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Thursday, June 30th were given a $0.265 dividend. The ex-dividend date of this dividend was Tuesday, June 28th. This represents a $1.06 annualized dividend and a yield of 9.00%.

A number of hedge funds and institutional investors have recently made changes to their positions in CBL. Comerica Bank boosted its position in shares of CBL & Associates Properties by 4.2% in the fourth quarter. Comerica Bank now owns 170,135 shares of the real estate investment trust’s stock valued at $1,979,000 after buying an additional 6,784 shares during the last quarter. New York State Common Retirement Fund boosted its position in shares of CBL & Associates Properties by 13.0% in the fourth quarter. New York State Common Retirement Fund now owns 721,888 shares of the real estate investment trust’s stock valued at $8,930,000 after buying an additional 82,897 shares during the last quarter. Globeflex Capital L P boosted its position in shares of CBL & Associates Properties by 169.8% in the fourth quarter. Globeflex Capital L P now owns 166,525 shares of the real estate investment trust’s stock valued at $2,060,000 after buying an additional 104,809 shares during the last quarter. Alpine Woods Capital Investors LLC boosted its position in shares of CBL & Associates Properties by 272.1% in the fourth quarter. Alpine Woods Capital Investors LLC now owns 328,191 shares of the real estate investment trust’s stock valued at $4,060,000 after buying an additional 240,000 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of CBL & Associates Properties by 3.8% in the fourth quarter. Vanguard Group Inc. now owns 25,362,489 shares of the real estate investment trust’s stock valued at $313,734,000 after buying an additional 926,435 shares during the last quarter.

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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