Published On: Sat, Sep 17th, 2016

CBL & Associates Properties Inc. (CBL) Given “Buy” Rating at Jefferies Group

CBL & Associates Properties Inc. (NYSE:CBL)‘s stock had its “buy” rating reissued by investment analysts at Jefferies Group in a note issued to investors on Tuesday.
Other equities research analysts have also issued research reports about the stock. Goldman Sachs Group Inc. lowered shares of CBL & Associates Properties to a “neutral” rating in a report on Friday, July 15th. Canaccord Genuity reissued a “hold” rating on shares of CBL & Associates Properties in a report on Friday, August 12th. 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 report on Friday, August 5th. 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 report on Monday, August 15th. Finally, KeyCorp raised shares of CBL & Associates Properties from a “sector weight” rating to an “overweight” rating and set a $15.00 price objective on the stock in a report on Thursday, July 14th. One analyst has rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $13.61.
Shares of CBL & Associates Properties (NYSE:CBL) traded down 0.63% on Tuesday, reaching $12.68. 4,700,599 shares of the company were exchanged. The stock has a 50 day moving average price of $12.80 and a 200-day moving average price of $11.49. The stock has a market capitalization of $2.17 billion, a P/E ratio of 29.49 and a beta of 1.70. CBL & Associates Properties has a 12 month low of $8.86 and a 12 month high of $15.59.

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CBL & Associates Properties (NYSE:CBL) last issued its quarterly earnings data on Thursday, July 28th. The real estate investment trust reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.03. CBL & Associates Properties had a net margin of 11.18% and a return on equity of 6.36%. The firm had revenue of $254.97 million for the quarter, compared to analyst estimates of $246.78 million. During the same quarter in the prior year, the firm earned $0.54 EPS. The company’s revenue was up .4% on a year-over-year basis. On average, equities analysts expect that CBL & Associates Properties will post $2.38 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be given a $0.265 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 8.36%. CBL & Associates Properties’s dividend payout ratio is 252.38%.
Several hedge funds have recently made changes to their positions in the stock. Macquarie Group Ltd. increased its stake in shares of CBL & Associates Properties by 1.2% in the second quarter. Macquarie Group Ltd. now owns 499,019 shares of the real estate investment trust’s stock worth $4,645,000 after buying an additional 5,850 shares in the last quarter. Nomura Holdings Inc. purchased a new stake in shares of CBL & Associates Properties during the second quarter worth $1,164,000. Wolverine Asset Management LLC increased its stake in shares of CBL & Associates Properties by 151.1% in the second quarter. Wolverine Asset Management LLC now owns 167,940 shares of the real estate investment trust’s stock worth $1,563,000 after buying an additional 101,046 shares in the last quarter. Royal Bank of Canada increased its stake in shares of CBL & Associates Properties by 19.2% in the second quarter. Royal Bank of Canada now owns 286,571 shares of the real estate investment trust’s stock worth $2,668,000 after buying an additional 46,132 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its stake in shares of CBL & Associates Properties by 29.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,586,304 shares of the real estate investment trust’s stock worth $14,769,000 after buying an additional 357,773 shares in the last quarter. Institutional investors and hedge funds own 92.62% of the company’s stock.
CBL & Associates Properties Company Profile
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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