Shell Asset Management Co. held its stake in shares of CBL & Associates Properties, Inc. (NYSE:CBL) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 73,559 shares of the real estate investment trust’s stock at the end of the second quarter. Shell Asset Management Co.’s holdings in CBL & Associates Properties were worth $620,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in CBL. Norges Bank purchased a new stake in shares of CBL & Associates Properties during the fourth quarter valued at $16,442,000. Raymond James Financial Services Advisors Inc. raised its stake in shares of CBL & Associates Properties by 17.7% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 134,701 shares of the real estate investment trust’s stock valued at $1,285,000 after buying an additional 20,210 shares in the last quarter. M&T Bank Corp raised its stake in shares of CBL & Associates Properties by 14.8% in the first quarter. M&T Bank Corp now owns 15,202 shares of the real estate investment trust’s stock valued at $145,000 after buying an additional 1,964 shares in the last quarter. Credit Suisse AG raised its stake in shares of CBL & Associates Properties by 10.7% in the first quarter. Credit Suisse AG now owns 749,690 shares of the real estate investment trust’s stock valued at $7,152,000 after buying an additional 72,287 shares in the last quarter. Finally, KBC Group NV raised its stake in shares of CBL & Associates Properties by 19.0% in the first quarter. KBC Group NV now owns 517,872 shares of the real estate investment trust’s stock valued at $4,940,000 after buying an additional 82,582 shares in the last quarter. 90.50% of the stock is owned by hedge funds and other institutional investors.

CBL & Associates Properties, Inc. (CBL) opened at 8.40 on Friday. CBL & Associates Properties, Inc. has a 52 week low of $7.15 and a 52 week high of $14.30. The firm has a 50-day moving average price of $8.66 and a 200-day moving average price of $9.10. The firm has a market capitalization of $1.44 billion, a P/E ratio of 14.29 and a beta of 1.17.

The business also recently declared a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Friday, June 30th were paid a dividend of $0.265 per share. The ex-dividend date was Wednesday, June 28th. This represents a $1.06 annualized dividend and a dividend yield of 12.62%. CBL & Associates Properties’s dividend payout ratio (DPR) is currently 179.66%.

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CBL has been the subject of several research analyst reports. Boenning Scattergood raised CBL & Associates Properties from an “underperform” rating to a “neutral” rating in a report on Monday, May 15th. ValuEngine raised CBL & Associates Properties from a “buy” rating to a “strong-buy” rating in a report on Thursday, May 11th. Morgan Stanley restated an “underweight” rating and issued a $6.00 target price (down from $10.00) on shares of CBL & Associates Properties in a research note on Saturday, June 3rd. Hilliard Lyons downgraded CBL & Associates Properties to a “buy” rating and decreased their target price for the company from $19.00 to $17.50 in a research note on Thursday, May 4th. Finally, Zacks Investment Research upgraded CBL & Associates Properties from a “sell” rating to a “hold” rating in a research note on Tuesday, April 18th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $10.84.

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.

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Institutional Ownership by Quarter for CBL & Associates Properties (NYSE:CBL)

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