Neuberger Berman Group LLC cut its position in CBL & Associates Properties, Inc. (NYSE:CBL) by 14.6% during the first quarter, Holdings Channel reports. The firm owned 476,245 shares of the real estate investment trust’s stock after selling 81,489 shares during the period. Neuberger Berman Group LLC owned 0.28% of CBL & Associates Properties worth $4,543,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in CBL & Associates Properties during the fourth quarter worth approximately $16,442,000. Numeric Investors LLC increased its position in CBL & Associates Properties by 38.8% in the fourth quarter. Numeric Investors LLC now owns 4,374,573 shares of the real estate investment trust’s stock worth $50,308,000 after buying an additional 1,221,794 shares during the period. Russell Investments Group Ltd. purchased a new position in CBL & Associates Properties during the fourth quarter worth approximately $10,543,000. Henderson Group PLC purchased a new position in CBL & Associates Properties during the first quarter worth approximately $5,182,000. Finally, Adams Asset Advisors LLC purchased a new position in CBL & Associates Properties during the first quarter worth approximately $4,176,000. Institutional investors own 93.26% of the company’s stock.

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

CBL & Associates Properties, Inc. (CBL) opened at 8.45 on Friday. CBL & Associates Properties, Inc. has a 52-week low of $7.14 and a 52-week high of $14.30. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of 11.90 and a beta of 1.24. The company’s 50-day moving average price is $8.14 and its 200-day moving average price is $9.86.

CBL & Associates Properties (NYSE:CBL) last released its quarterly earnings results on Wednesday, May 3rd. The real estate investment trust reported $0.52 EPS for the quarter, missing the Zacks’ consensus estimate of $0.53 by $0.01. CBL & Associates Properties had a return on equity of 9.98% and a net margin of 16.64%. The business had revenue of $238.01 million for the quarter, compared to the consensus estimate of $244.76 million. During the same quarter last year, the company earned $0.56 earnings per share. Analysts predict that CBL & Associates Properties, Inc. will post $0.56 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 17th. Shareholders of record on Friday, June 30th will be issued a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 12.54%. The ex-dividend date is Wednesday, June 28th. CBL & Associates Properties’s dividend payout ratio is 149.30%.

COPYRIGHT VIOLATION WARNING: “Neuberger Berman Group LLC Reduces Stake in CBL & Associates Properties, Inc. (CBL)” was posted by Financial Market News and is the property of of Financial Market News. If you are accessing this story on another site, it was illegally copied and republished in violation of international copyright law. The correct version of this story can be accessed at https://www.financial-market-news.com/2017/06/17/neuberger-berman-group-llc-reduces-stake-in-cbl-associates-properties-inc-cbl.html.

Several brokerages recently commented on CBL. Zacks Investment Research upgraded CBL & Associates Properties from a “sell” rating to a “hold” rating in a report on Tuesday, April 4th. Boenning Scattergood upgraded CBL & Associates Properties from an “underperform” rating to a “neutral” rating in a report on Monday, May 15th. Hilliard Lyons downgraded CBL & Associates Properties to a “buy” rating and dropped their target price for the company from $19.00 to $17.50 in a report on Thursday, May 4th. ValuEngine upgraded CBL & Associates Properties from a “buy” rating to a “strong-buy” rating in a report on Thursday, May 11th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $13.00 target price on shares of CBL & Associates Properties in a report on Monday, May 22nd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $12.07.

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.

Want to see what other hedge funds are holding CBL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CBL & Associates Properties, Inc. (NYSE:CBL).

Receive News & Ratings for CBL & Associates Properties Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CBL & Associates Properties Inc. and related companies with MarketBeat.com's FREE daily email newsletter.