CBL & Associates Properties Inc. (CBL) Trading Up 3.5%
CBL & Associates Properties Inc. (NYSE:CBL)’s share price was up 3.5% on Thursday . The stock traded as high as $13.33 and last traded at $13.20, with a volume of 1,716,135 shares changing hands. The stock had previously closed at $12.75.
Several equities analysts have recently weighed in on CBL shares. Goldman Sachs Group Inc. downgraded CBL & Associates Properties from a “buy” rating to a “neutral” rating and reduced their price target for the company from $12.00 to $10.50 in a report on Wednesday, June 1st. Citigroup Inc. reduced their price target on CBL & Associates Properties from $12.00 to $11.00 and set a “neutral” rating for the company in a report on Thursday, July 7th. Mizuho reduced their price target on CBL & Associates Properties from $12.00 to $10.50 and set a “neutral” rating for the company in a report on Thursday, May 26th. Jefferies Group restated a “hold” rating and set a $10.50 price target on shares of CBL & Associates Properties in a report on Friday, July 29th. Finally, KeyCorp upgraded CBL & Associates Properties from a “sector weight” rating to an “overweight” rating and set a $15.00 price target for the company in a report on Thursday, July 14th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the stock. CBL & Associates Properties has an average rating of “Hold” and an average target price of $12.88.
The stock has a market cap of $2.24 billion and a price-to-earnings ratio of 30.53. The stock has a 50-day moving average of $11.67 and a 200 day moving average of $11.17.
CBL & Associates Properties (NYSE:CBL) last issued its earnings results on Thursday, July 28th. The real estate investment trust reported $0.59 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.03. During the same quarter in the prior year, the company posted $0.54 earnings per share. The firm earned $254.97 million during the quarter, compared to analysts’ expectations of $246.78 million. CBL & Associates Properties’s quarterly revenue was up .4% compared to the same quarter last year. Equities analysts anticipate that CBL & Associates Properties Inc. will post $2.38 EPS for the current fiscal year.
A hedge fund recently raised its stake in CBL & Associates Properties stock. Connor Clark & Lunn Investment Management Ltd. boosted its stake in CBL & Associates Properties Inc. (NYSE:CBL) by 321.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 209,075 shares of the real estate investment trust’s stock after buying an additional 159,525 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.12% of CBL & Associates Properties worth $2,586,000 as of its most recent filing with the SEC.
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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