Tocqueville Asset Management L.P. Lowers Stake in CBL & Associates Properties, Inc. (NYSE:CBL)

Tocqueville Asset Management L.P. trimmed its position in CBL & Associates Properties, Inc. (NYSE:CBL) by 62.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 40,000 shares of the real estate investment trust’s stock after selling 67,841 shares during the period. Tocqueville Asset Management L.P.’s holdings in CBL & Associates Properties were worth $226,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. RMR Advisors LLC grew its position in shares of CBL & Associates Properties by 74.6% during the 4th quarter. RMR Advisors LLC now owns 233,963 shares of the real estate investment trust’s stock valued at $1,324,000 after acquiring an additional 99,963 shares during the period. D.A. Davidson & CO. grew its position in shares of CBL & Associates Properties by 38.4% during the 3rd quarter. D.A. Davidson & CO. now owns 227,195 shares of the real estate investment trust’s stock valued at $1,906,000 after acquiring an additional 63,000 shares during the period. Raymond James Financial Services Advisors Inc. grew its position in shares of CBL & Associates Properties by 21.2% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 170,824 shares of the real estate investment trust’s stock valued at $1,433,000 after acquiring an additional 29,864 shares during the period. JPMorgan Chase & Co. grew its position in shares of CBL & Associates Properties by 49.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,922,137 shares of the real estate investment trust’s stock valued at $16,875,000 after acquiring an additional 631,703 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of CBL & Associates Properties by 5.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,615,849 shares of the real estate investment trust’s stock valued at $21,949,000 after acquiring an additional 139,145 shares during the period. 79.78% of the stock is owned by institutional investors and hedge funds.

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CBL opened at $4.40 on Friday. The company has a market capitalization of $754.45, a P/E ratio of 2.12, a price-to-earnings-growth ratio of -0.83 and a beta of 1.15. CBL & Associates Properties, Inc. has a 12 month low of $4.00 and a 12 month high of $10.11. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 3.42.

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

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

A number of research analysts have recently weighed in on the stock. Raymond James Financial downgraded shares of CBL & Associates Properties from a “market perform” rating to an “underperform” rating in a research report on Wednesday, December 20th. Stifel Nicolaus reissued a “hold” rating and set a $6.00 target price on shares of CBL & Associates Properties in a research report on Friday, January 12th. ValuEngine downgraded shares of CBL & Associates Properties from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Morgan Stanley reaffirmed an “underweight” rating and issued a $4.75 price objective on shares of CBL & Associates Properties in a report on Thursday, December 14th. Finally, Citigroup downgraded shares of CBL & Associates Properties from a “neutral” rating to a “sell” rating and set a $4.00 price objective for the company. in a report on Thursday, December 14th. Nine analysts have rated the stock with a sell rating and six have given a hold rating to the company. The stock presently has an average rating of “Sell” and a consensus target price of $6.47.

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CBL & Associates Properties 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.

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

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