CBL & Associates Properties (CBL) Downgraded to “Sell” at Zacks Investment Research

CBL & Associates Properties (NYSE:CBL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday, November 15th.

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. “

Several other research firms have also recently commented on CBL. Jefferies Group cut CBL & Associates Properties from a “buy” rating to a “hold” rating in a research report on Monday, November 6th. Boenning Scattergood reaffirmed a “hold” rating on shares of CBL & Associates Properties in a research note on Monday, August 7th. Mizuho reaffirmed a “hold” rating and set a $9.00 price target on shares of CBL & Associates Properties in a research note on Monday, October 9th. ValuEngine lowered CBL & Associates Properties from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $7.50 price target on shares of CBL & Associates Properties in a research note on Friday, November 3rd. Six investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $9.72.

CBL & Associates Properties (NYSE:CBL) traded up $0.07 on Wednesday, reaching $5.69. The company had a trading volume of 5,816,035 shares, compared to its average volume of 4,079,770. CBL & Associates Properties has a 12-month low of $5.46 and a 12-month high of $12.34. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 3.39. The firm has a market cap of $973.57, a PE ratio of 2.55, a P/E/G ratio of 0.67 and a beta of 1.10.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Piedmont Investment Advisors LLC purchased a new stake in shares of CBL & Associates Properties in the second quarter valued at $312,000. Ray Gerald L & Associates Ltd. lifted its holdings in shares of CBL & Associates Properties by 8.3% in the second quarter. Ray Gerald L & Associates Ltd. now owns 439,106 shares of the real estate investment trust’s stock valued at $3,701,000 after purchasing an additional 33,705 shares in the last quarter. Comerica Bank lifted its holdings in shares of CBL & Associates Properties by 45.5% in the second quarter. Comerica Bank now owns 414,176 shares of the real estate investment trust’s stock valued at $3,653,000 after purchasing an additional 129,570 shares in the last quarter. PVG Asset Management Corp lifted its holdings in shares of CBL & Associates Properties by 71.3% in the second quarter. PVG Asset Management Corp now owns 824,962 shares of the real estate investment trust’s stock valued at $6,954,000 after purchasing an additional 343,436 shares in the last quarter. Finally, BNP Paribas Arbitrage SA lifted its holdings in shares of CBL & Associates Properties by 1,153.0% in the second quarter. BNP Paribas Arbitrage SA now owns 163,878 shares of the real estate investment trust’s stock valued at $1,381,000 after purchasing an additional 150,799 shares in the last quarter. Institutional investors own 95.84% of the company’s stock.

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CBL & Associates Properties Company Profile

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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