CBL & Associates Properties Inc. (CBL) Shares Up 3.5%
Shares of CBL & Associates Properties Inc. (NYSE:CBL) shot up 3.5% during mid-day trading on Thursday . The company traded as high as $13.33 and last traded at $13.20, with a volume of 1,716,135 shares. The stock had previously closed at $12.75.
A number of equities analysts recently weighed in on CBL shares. Zacks Investment Research cut shares of CBL & Associates Properties from a “buy” rating to a “hold” rating in a research report on Tuesday, May 3rd. Goldman Sachs Group Inc. cut shares of CBL & Associates Properties to a “neutral” rating in a research report on Friday, July 15th. Canaccord Genuity reaffirmed a “hold” rating on shares of CBL & Associates Properties in a research report on Friday, August 12th. Mizuho increased their price objective on shares of CBL & Associates Properties from $13.00 to $14.00 and gave the stock a “neutral” rating in a research report on Monday, August 15th. Finally, Citigroup Inc. increased their price objective on shares of CBL & Associates Properties from $11.00 to $11.50 and gave the stock a “neutral” rating in a research report on Friday, August 5th. 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 company. The company currently has a consensus rating of “Hold” and a consensus target price of $12.88.
The company’s 50-day moving average is $11.86 and its 200 day moving average is $11.21. The firm has a market capitalization of $2.26 billion and a P/E ratio of 30.79.
CBL & Associates Properties (NYSE:CBL) last posted its quarterly earnings data on Thursday, July 28th. The real estate investment trust reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.03. The firm earned $254.97 million during the quarter, compared to analyst estimates of $246.78 million. During the same period in the prior year, the firm earned $0.54 EPS. The business’s quarterly revenue was up .4% on a year-over-year basis. Equities analysts forecast that CBL & Associates Properties Inc. will post $2.38 earnings per share 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 position in shares of CBL & Associates Properties Inc. (NYSE:CBL) by 321.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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 about 0.12% of CBL & Associates Properties worth $2,586,000 at the end of the most recent reporting period.
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.