CBL & Associates Properties, Inc. (CBL) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. lowered its stake in CBL & Associates Properties, Inc. (NYSE:CBL) by 18.3% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 180,100 shares of the real estate investment trust’s stock after selling 40,400 shares during the period. Franklin Resources Inc. owned approximately 0.11% of CBL & Associates Properties worth $2,071,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Royal Bank of Canada boosted its position in CBL & Associates Properties by 19.2% in the second quarter. Royal Bank of Canada now owns 286,571 shares of the real estate investment trust’s stock valued at $2,668,000 after buying an additional 46,132 shares in the last quarter. Macquarie Group Ltd. boosted its position in CBL & Associates Properties by 1.2% in the second quarter. Macquarie Group Ltd. now owns 499,019 shares of the real estate investment trust’s stock valued at $4,645,000 after buying an additional 5,850 shares in the last quarter. Breton Hill Capital Ltd. boosted its position in CBL & Associates Properties by 36.0% in the third quarter. Breton Hill Capital Ltd. now owns 64,827 shares of the real estate investment trust’s stock valued at $787,000 after buying an additional 17,172 shares in the last quarter. Meeder Asset Management Inc. boosted its position in CBL & Associates Properties by 3,119.1% in the third quarter. Meeder Asset Management Inc. now owns 30,968 shares of the real estate investment trust’s stock valued at $375,000 after buying an additional 30,006 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new position in CBL & Associates Properties during the third quarter valued at $220,000. 94.92% of the stock is owned by institutional investors.

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

Shares of CBL & Associates Properties, Inc. (NYSE:CBL) remained flat at $9.10 on Monday. 199,746 shares of the company were exchanged. CBL & Associates Properties, Inc. has a 1-year low of $8.72 and a 1-year high of $14.30. The stock has a 50 day moving average price of $10.02 and a 200-day moving average price of $11.25. The company has a market cap of $1.56 billion, a PE ratio of 12.13 and a beta of 1.27.

CBL & Associates Properties (NYSE:CBL) last released its quarterly earnings results on Wednesday, February 1st. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.45. The business earned $258.49 million during the quarter, compared to the consensus estimate of $262.42 million. CBL & Associates Properties had a return on equity of 10.25% and a net margin of 16.81%. The company’s quarterly revenue was down 6.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.71 EPS. Equities research analysts forecast that CBL & Associates Properties, Inc. will post $0.64 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 17th. Stockholders of record on Thursday, March 30th will be paid a $0.265 dividend. The ex-dividend date of this dividend is Tuesday, March 28th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 11.65%. CBL & Associates Properties’s payout ratio is presently 141.33%.

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Several research analysts have recently weighed in on CBL shares. Citigroup Inc cut CBL & Associates Properties from a “neutral” rating to a “sell” rating and set a $11.00 price objective for the company. in a research report on Tuesday, December 13th. BTIG Research started coverage on CBL & Associates Properties in a research report on Tuesday, January 3rd. They set a “neutral” rating for the company. Zacks Investment Research cut CBL & Associates Properties from a “hold” rating to a “sell” rating in a research report on Tuesday, January 10th. Barclays PLC reduced their price objective on CBL & Associates Properties from $13.00 to $10.00 and set an “equal weight” rating for the company in a research report on Monday, January 23rd. Finally, TheStreet raised CBL & Associates Properties from a “d+” rating to a “c” rating in a research report on Wednesday, February 1st. Eight analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $12.79.

CBL & Associates Properties Company Profile

CBL & Associates Properties, Inc (CBL) is a self-managed, self-administered, integrated real estate investment trust (REIT). 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.

5 Day Chart for NYSE:CBL

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