UBS Asset Management Americas Inc. raised its stake in shares of CBL & Associates Properties, Inc. (NYSE:CBL) by 10.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 436,128 shares of the real estate investment trust’s stock after purchasing an additional 42,807 shares during the quarter. UBS Asset Management Americas Inc. owned about 0.25% of CBL & Associates Properties worth $2,468,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of CBL. Engineers Gate Manager LP acquired a new stake in shares of CBL & Associates Properties in the fourth quarter worth $144,000. Fox Run Management L.L.C. acquired a new stake in shares of CBL & Associates Properties in the fourth quarter worth $148,000. Bank of Montreal Can increased its stake in shares of CBL & Associates Properties by 74.5% in the fourth quarter. Bank of Montreal Can now owns 30,524 shares of the real estate investment trust’s stock worth $173,000 after acquiring an additional 13,032 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of CBL & Associates Properties in the third quarter worth $190,000. Finally, Crossmark Global Holdings Inc. acquired a new stake in shares of CBL & Associates Properties in the third quarter worth $194,000. Institutional investors and hedge funds own 79.78% of the company’s stock.
NYSE CBL traded down $0.04 during mid-day trading on Friday, reaching $4.40. 1,740,374 shares of the stock were exchanged, compared to its average volume of 3,852,035. The company has a debt-to-equity ratio of 3.42, a quick ratio of 0.55 and a current ratio of 0.55. The company has a market capitalization of $759.63, a PE ratio of 2.12, a price-to-earnings-growth ratio of -0.84 and a beta of 1.15. CBL & Associates Properties, Inc. has a 1 year low of $4.00 and a 1 year high of $10.11.
CBL & Associates Properties (NYSE:CBL) last posted its quarterly earnings data on Thursday, February 8th. The real estate investment trust reported $0.56 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.41. The business had revenue of $235.30 million for the quarter, compared to the consensus estimate of $246.46 million. CBL & Associates Properties had a net margin of 13.04% and a return on equity of 8.14%. The company’s revenue was down 9.0% compared to the same quarter last year. During the same period last year, the firm posted $0.68 earnings per share. equities analysts expect that CBL & Associates Properties, Inc. will post 1.75 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 17th. Shareholders of record on Friday, March 30th will be issued a dividend of $0.20 per share. 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 payout ratio is 38.46%.
A number of analysts have recently weighed in on the stock. Raymond James Financial lowered shares of CBL & Associates Properties from a “market perform” rating to an “underperform” rating in a research note on Wednesday, December 20th. Mizuho set a $5.00 price objective on shares of CBL & Associates Properties and gave the stock a “sell” rating in a research note on Friday, February 16th. ValuEngine lowered shares of CBL & Associates Properties from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Citigroup lowered shares of CBL & Associates Properties from a “neutral” rating to a “sell” rating and set a $4.00 price objective on the stock. in a research note on Thursday, December 14th. Finally, Jefferies Group reissued a “sell” rating and set a $3.00 price target on shares of CBL & Associates Properties in a report on Friday, February 23rd. Nine equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. CBL & Associates Properties presently has an average rating of “Sell” and an average price target of $6.47.
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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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