CBL & Associates Properties, Inc. (NYSE:CBL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Monday.

According to Zacks, “CBL & Associates Properties, Inc. is a fully integrated real estate investment trust which owns, develops, acquires, leases, manages, and operates regional shopping malls, open-air centers, community centers and office properties. The Company conducts substantially all of its business through its operating partnership. It owns two qualified REIT subsidiaries: CBL Holdings I, Inc. and CBL Holdings II, Inc. CBL & Associates Properties is headquartered in Chattanooga, Tennessee. “

A number of other research analysts also recently issued reports on the company. TheStreet raised CBL & Associates Properties from a “d+” rating to a “c” rating in a report on Wednesday, February 1st. Citigroup Inc raised CBL & Associates Properties from a “sell” rating to a “neutral” rating in a report on Monday, January 30th. Barclays PLC lowered their price target on CBL & Associates Properties from $13.00 to $10.00 and set an “equal weight” rating on the stock in a report on Monday, January 23rd. Finally, BTIG Research assumed coverage on CBL & Associates Properties in a report on Tuesday, January 3rd. They set a “neutral” rating on the stock. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. CBL & Associates Properties has a consensus rating of “Hold” and an average price target of $12.79.

Analyst Recommendations for CBL & Associates Properties (NYSE:CBL)

CBL & Associates Properties (NYSE:CBL) remained flat at $9.62 on Monday. 1,945,059 shares of the stock were exchanged. The firm’s 50 day moving average is $10.18 and its 200-day moving average is $11.40. The stock has a market capitalization of $1.65 billion, a PE ratio of 12.83 and a beta of 1.27. CBL & Associates Properties has a 1-year low of $8.86 and a 1-year high of $14.30.

CBL & Associates Properties (NYSE:CBL) last released its earnings results on Wednesday, February 1st. The real estate investment trust reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.45. The firm had revenue of $258.49 million for the quarter, compared to analysts’ expectations of $262.42 million. CBL & Associates Properties had a return on equity of 10.25% and a net margin of 16.81%. The company’s quarterly revenue was down 6.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.71 earnings per share. Analysts anticipate that CBL & Associates Properties will post $0.64 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 17th. Stockholders of record on Thursday, March 30th will be paid a $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 11.02%. The ex-dividend date of this dividend is Tuesday, March 28th. CBL & Associates Properties’s dividend payout ratio (DPR) is currently 141.33%.

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Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Japan Co. Ltd boosted its stake in CBL & Associates Properties by 3.5% in the third quarter. BlackRock Japan Co. Ltd now owns 8,269 shares of the real estate investment trust’s stock valued at $100,000 after buying an additional 279 shares in the last quarter. Horizon Investments LLC boosted its stake in CBL & Associates Properties by 1.0% in the fourth quarter. Horizon Investments LLC now owns 11,420 shares of the real estate investment trust’s stock valued at $131,000 after buying an additional 114 shares in the last quarter. New York State Teachers Retirement System boosted its stake in CBL & Associates Properties by 1.4% in the fourth quarter. New York State Teachers Retirement System now owns 14,900 shares of the real estate investment trust’s stock valued at $171,000 after buying an additional 200 shares in the last quarter. ARP Americas LLC acquired a new stake in CBL & Associates Properties during the fourth quarter valued at about $177,000. Finally, Shinko Asset Management Co. Ltd. boosted its stake in CBL & Associates Properties by 42.0% in the third quarter. Shinko Asset Management Co. Ltd. now owns 16,900 shares of the real estate investment trust’s stock valued at $205,000 after buying an additional 5,000 shares in the last quarter. 94.92% of the stock is currently owned by hedge funds and other institutional investors.

About CBL & Associates Properties

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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