CBL & Associates Properties, Inc. (CBL) Holdings Raised by Bridgeway Capital Management Inc.

Bridgeway Capital Management Inc. grew its holdings in CBL & Associates Properties, Inc. (NYSE:CBL) by 21.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 403,000 shares of the real estate investment trust’s stock after buying an additional 70,500 shares during the period. Bridgeway Capital Management Inc.’s holdings in CBL & Associates Properties were worth $1,608,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cubist Systematic Strategies LLC raised its stake in shares of CBL & Associates Properties by 73.8% in the second quarter. Cubist Systematic Strategies LLC now owns 32,175 shares of the real estate investment trust’s stock worth $179,000 after purchasing an additional 13,661 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of CBL & Associates Properties by 7.2% in the third quarter. Wells Fargo & Company MN now owns 360,132 shares of the real estate investment trust’s stock worth $1,438,000 after purchasing an additional 24,057 shares during the last quarter. Eqis Capital Management Inc. raised its stake in shares of CBL & Associates Properties by 83.2% in the second quarter. Eqis Capital Management Inc. now owns 57,266 shares of the real estate investment trust’s stock worth $319,000 after purchasing an additional 26,009 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of CBL & Associates Properties in the second quarter worth about $145,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of CBL & Associates Properties by 150.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 46,015 shares of the real estate investment trust’s stock worth $256,000 after purchasing an additional 27,668 shares during the last quarter. 77.17% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:CBL opened at $2.40 on Thursday. The company has a debt-to-equity ratio of 3.67, a current ratio of 0.46 and a quick ratio of 0.46. The stock has a market capitalization of $414.41 million, a PE ratio of 1.30, a PEG ratio of -0.46 and a beta of 1.07. CBL & Associates Properties, Inc. has a 52-week low of $2.39 and a 52-week high of $6.26.

CBL & Associates Properties (NYSE:CBL) last announced its quarterly earnings results on Monday, October 29th. The real estate investment trust reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.39). The company had revenue of $206.88 million for the quarter, compared to analysts’ expectations of $209.53 million. CBL & Associates Properties had a net margin of 1.39% and a return on equity of 1.29%. The firm’s revenue was down 7.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.50 earnings per share. As a group, equities analysts predict that CBL & Associates Properties, Inc. will post 1.73 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 16th. Investors of record on Monday, December 31st will be given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 12.50%. The ex-dividend date of this dividend is Sunday, December 30th. CBL & Associates Properties’s dividend payout ratio is currently 38.46%.

Several research analysts have recently issued reports on CBL shares. ValuEngine upgraded CBL & Associates Properties from a “sell” rating to a “hold” rating in a research note on Wednesday, August 15th. Bank of America reduced their price objective on CBL & Associates Properties from $4.50 to $4.00 and set an “underperform” rating for the company in a research note on Monday, August 13th. Zacks Investment Research cut CBL & Associates Properties from a “hold” rating to a “sell” rating in a research note on Tuesday, October 30th. Finally, Morgan Stanley set a $2.00 price objective on CBL & Associates Properties and gave the stock a “sell” rating in a research note on Tuesday, November 27th. Ten investment analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. The company presently has a consensus rating of “Sell” and an average price target of $3.97.

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CBL & Associates Properties Company Profile

Headquartered in Chattanooga, TN, CBL Properties owns and manages a national portfolio of market-dominant properties located in dynamic and growing communities. CBL's portfolio is comprised of 114 properties totaling 71.9 million square feet across 26 states, including 73 high-quality enclosed, outlet and open-air retail centers and 12 properties managed for third parties.

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

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