Alps Advisors Inc. Increases Holdings in CBL & Associates Properties (CBL)

Alps Advisors Inc. raised its holdings in shares of CBL & Associates Properties (NYSE:CBL) by 165.1% in the 1st quarter, HoldingsChannel.com reports. The fund owned 105,143 shares of the real estate investment trust’s stock after buying an additional 65,480 shares during the quarter. Alps Advisors Inc.’s holdings in CBL & Associates Properties were worth $438,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. RMR Advisors LLC lifted its stake in 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. Dimensional Fund Advisors LP lifted its stake in 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. Bank of Montreal Can lifted its stake in CBL & Associates Properties by 74.5% during the 4th quarter. Bank of Montreal Can now owns 30,524 shares of the real estate investment trust’s stock valued at $173,000 after acquiring an additional 13,032 shares during the period. Nisa Investment Advisors LLC lifted its stake in CBL & Associates Properties by 70.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 99,110 shares of the real estate investment trust’s stock valued at $561,000 after acquiring an additional 40,900 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in CBL & Associates Properties by 14.9% during the 4th quarter. Bank of New York Mellon Corp now owns 3,516,069 shares of the real estate investment trust’s stock valued at $19,900,000 after acquiring an additional 456,684 shares during the period. Institutional investors and hedge funds own 81.65% of the company’s stock.

CBL & Associates Properties opened at $4.24 on Thursday, Marketbeat reports. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 3.35. The company has a market cap of $735.54 million, a PE ratio of 2.04, a PEG ratio of -0.81 and a beta of 1.14. CBL & Associates Properties has a 1-year low of $4.22 and a 1-year high of $4.34.

CBL & Associates Properties (NYSE:CBL) last posted its earnings results on Thursday, April 26th. The real estate investment trust reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.48). The firm had revenue of $220.20 million for the quarter, compared to analysts’ expectations of $215.60 million. CBL & Associates Properties had a net margin of 9.65% and a return on equity of 5.59%. analysts expect that CBL & Associates Properties will post 1.75 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 17th. Stockholders of record on Friday, March 30th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 18.87%. The ex-dividend date of this dividend was Wednesday, March 28th. CBL & Associates Properties’s dividend payout ratio (DPR) is 38.46%.

Several analysts have commented on the stock. Stifel Nicolaus decreased their price objective on shares of CBL & Associates Properties from $5.00 to $4.25 and set a “hold” rating for the company in a research note on Friday, April 27th. Mizuho set a $5.00 price objective on shares of CBL & Associates Properties and gave the company a “sell” rating in a research note on Friday, February 16th. ValuEngine cut shares of CBL & Associates Properties from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Jefferies Group restated a “sell” rating and set a $3.00 price objective on shares of CBL & Associates Properties in a research note on Friday, February 23rd. Finally, BTIG Research reaffirmed a “hold” rating on shares of CBL & Associates Properties in a report on Sunday, April 29th. Ten analysts have rated the stock with a sell rating and six have issued a hold rating to the company. CBL & Associates Properties currently has an average rating of “Sell” and a consensus target price of $4.56.

About CBL & Associates Properties

Headquartered in Chattanooga, TN, CBL is one of the largest and most active owners and developers of malls and shopping centers in the United States. CBL owns, holds interests in or manages 119 properties, including 76 regional malls/open-air centers. The properties are located in 27 states and total 74.4 million square feet including 6.2 million square feet of non-owned shopping centers managed for third parties.

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

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