CBL & Associates Properties, Inc. (CBL) Shares Sold by State of Tennessee Treasury Department

State of Tennessee Treasury Department lowered its stake in CBL & Associates Properties, Inc. (NYSE:CBL) by 9.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 136,030 shares of the real estate investment trust’s stock after selling 14,811 shares during the quarter. State of Tennessee Treasury Department owned about 0.08% of CBL & Associates Properties worth $770,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CBL. BlackRock Inc. increased its stake in shares of CBL & Associates Properties by 4.7% during the fourth quarter. BlackRock Inc. now owns 26,276,039 shares of the real estate investment trust’s stock worth $148,724,000 after buying an additional 1,187,464 shares during the period. Schroder Investment Management Group increased its stake in shares of CBL & Associates Properties by 11,623.1% during the fourth quarter. Schroder Investment Management Group now owns 3,775,662 shares of the real estate investment trust’s stock worth $21,370,000 after buying an additional 3,743,455 shares during the period. Bank of New York Mellon Corp increased its stake in shares of CBL & Associates Properties by 14.9% during the fourth quarter. Bank of New York Mellon Corp now owns 3,516,069 shares of the real estate investment trust’s stock worth $19,900,000 after buying an additional 456,684 shares during the period. Schwab Charles Investment Management Inc. increased its stake in shares of CBL & Associates Properties by 2.1% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 2,838,718 shares of the real estate investment trust’s stock worth $16,068,000 after buying an additional 57,221 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of CBL & Associates Properties by 5.6% during the third quarter. Dimensional Fund Advisors LP now owns 2,615,849 shares of the real estate investment trust’s stock worth $21,949,000 after buying an additional 139,145 shares during the period. 79.78% of the stock is currently owned by institutional investors.

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A number of analysts recently weighed in on CBL shares. ValuEngine lowered shares of CBL & Associates Properties from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Morgan Stanley restated an “underweight” rating and set a $4.75 target price on shares of CBL & Associates Properties in a research note on Thursday, December 14th. Jefferies Group reaffirmed a “sell” rating and issued a $3.00 price target on shares of CBL & Associates Properties in a report on Friday, February 23rd. Stifel Nicolaus reaffirmed a “hold” rating and issued a $6.00 price target on shares of CBL & Associates Properties in a report on Friday, January 12th. Finally, Raymond James Financial downgraded CBL & Associates Properties from a “market perform” rating to an “underperform” rating in a report on Wednesday, December 20th. Nine research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. The stock has a consensus rating of “Sell” and a consensus target price of $6.47.

Shares of CBL stock traded down $0.04 during trading hours on Friday, hitting $4.40. The stock had a trading volume of 1,740,374 shares, compared to its average volume of 3,852,035. The company has a market capitalization of $766.54, a P/E ratio of 2.12, a PEG ratio of -0.85 and a beta of 1.15. CBL & Associates Properties, Inc. has a twelve month low of $4.00 and a twelve month high of $10.11. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 3.42.

CBL & Associates Properties (NYSE:CBL) last issued its quarterly earnings results on Thursday, February 8th. The real estate investment trust reported $0.56 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.41. CBL & Associates Properties had a return on equity of 8.14% and a net margin of 13.04%. The firm had revenue of $235.30 million during the quarter, compared to the consensus estimate of $246.46 million. During the same period last year, the company earned $0.68 earnings per share. The company’s revenue for the quarter was down 9.0% on a year-over-year basis. research analysts predict that CBL & Associates Properties, Inc. will post 1.75 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 17th. Shareholders of record on Friday, March 30th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 18.18%. The ex-dividend date is Wednesday, March 28th. CBL & Associates Properties’s payout ratio is 38.46%.

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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.

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

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