CBL & Associates Properties Inc. (CBL) Stock Price Down 1.5%
CBL & Associates Properties Inc. (NYSE:CBL)’s share price traded down 1.5% during mid-day trading on Thursday . The company traded as low as $12.25 and last traded at $12.38, with a volume of 2,107,828 shares. The stock had previously closed at $12.57.
A number of equities analysts recently issued reports on the company. Goldman Sachs Group Inc. reissued a “hold” rating and issued a $10.50 price objective on shares of CBL & Associates Properties in a report on Thursday, June 2nd. TheStreet raised CBL & Associates Properties from a “sell” rating to a “hold” rating in a report on Wednesday, April 27th. Jefferies Group restated a “hold” rating and issued a $10.50 target price on shares of CBL & Associates Properties in a research report on Friday, July 29th. Mizuho cut their target price on CBL & Associates Properties from $12.00 to $10.50 and set a “neutral” rating for the company in a research report on Thursday, May 26th. Finally, Zacks Investment Research downgraded CBL & Associates Properties from a “buy” rating to a “hold” rating in a research report on Tuesday, May 3rd. One investment analyst has rated the stock with a sell rating, nine 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 price target of $12.44.
The company’s 50 day moving average price is $10.95 and its 200 day moving average price is $11.05. The company has a market capitalization of $2.15 billion and a P/E ratio of 29.21.
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, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.03. The firm had revenue of $254.97 million for the quarter, compared to analyst estimates of $246.78 million. The business’s quarterly revenue was up .4% on a year-over-year basis. During the same period in the previous year, the business posted $0.54 EPS. Analysts forecast that CBL & Associates Properties Inc. will post $2.37 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 15th. Stockholders of record on Thursday, June 30th were issued a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a dividend yield of 8.44%. The ex-dividend date was Tuesday, June 28th.
Several hedge funds have recently bought and sold shares of CBL. Vanguard Group Inc. raised its stake in 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. New York State Common Retirement Fund raised its stake in 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. Finally, Alpine Woods Capital Investors LLC raised its stake in 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.
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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