CBL & Associates Properties, Inc. (CBL) Lifted to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of CBL & Associates Properties, Inc. (NYSE:CBL) from a sell rating to a hold rating in a report released on Tuesday, April 18th.

According to Zacks, “CBL & Associates Properties, Inc. is a fully integrated real estate investment trust which owns, develops, acquires, leases, manages, and operates regional shopping malls, open-air centers, community centers and office properties. The Company conducts substantially all of its business through its operating partnership. It owns two qualified REIT subsidiaries: CBL Holdings I, Inc. and CBL Holdings II, Inc. CBL & Associates Properties is headquartered in Chattanooga, Tennessee. “

A number of other brokerages have also issued reports on CBL. BTIG Research started coverage on shares of CBL & Associates Properties in a research note on Tuesday, January 3rd. They set a neutral rating on the stock. Citigroup Inc upgraded shares of CBL & Associates Properties from a sell rating to a neutral rating in a research note on Monday, January 30th. TheStreet upgraded shares of CBL & Associates Properties from a d+ rating to a c rating in a research note on Wednesday, February 1st. Finally, Barclays PLC dropped their price target on shares of CBL & Associates Properties from $13.00 to $10.00 and set an equal weight rating on the stock in a research note on Monday, January 23rd. Eight research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. CBL & Associates Properties presently has a consensus rating of Hold and an average price target of $13.43.

Shares of CBL & Associates Properties (NYSE:CBL) traded up 2.95% during mid-day trading on Tuesday, hitting $7.69. The company had a trading volume of 5,572,627 shares. The company has a 50-day moving average price of $9.01 and a 200-day moving average price of $10.34. CBL & Associates Properties has a 1-year low of $7.15 and a 1-year high of $14.30. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of 10.83 and a beta of 1.27.

CBL & Associates Properties (NYSE:CBL) last issued its quarterly earnings results on Wednesday, May 3rd. The real estate investment trust reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by $0.01. CBL & Associates Properties had a return on equity of 10.25% and a net margin of 16.81%. The firm had revenue of $238.01 million for the quarter, compared to analyst estimates of $244.76 million. During the same quarter last year, the firm earned $0.56 earnings per share. On average, equities analysts anticipate that CBL & Associates Properties will post $0.60 EPS for the current year.

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Institutional investors have recently made changes to their positions in the stock. BlackRock Japan Co. Ltd increased its position in shares of CBL & Associates Properties by 3.5% in the third quarter. BlackRock Japan Co. Ltd now owns 8,269 shares of the real estate investment trust’s stock valued at $100,000 after buying an additional 279 shares during the last quarter. Independent Portfolio Consultants Inc. increased its position in shares of CBL & Associates Properties by 28.0% in the first quarter. Independent Portfolio Consultants Inc. now owns 11,540 shares of the real estate investment trust’s stock valued at $110,000 after buying an additional 2,525 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of CBL & Associates Properties by 10.9% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,881 shares of the real estate investment trust’s stock valued at $113,000 after buying an additional 1,163 shares during the last quarter. Eqis Capital Management Inc. increased its position in CBL & Associates Properties by 18.2% in the first quarter. Eqis Capital Management Inc. now owns 11,959 shares of the real estate investment trust’s stock worth $114,000 after buying an additional 1,843 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its position in CBL & Associates Properties by 29.6% in the first quarter. Daiwa Securities Group Inc. now owns 13,145 shares of the real estate investment trust’s stock worth $125,000 after buying an additional 3,000 shares in the last quarter. 94.92% of the stock is currently owned by institutional investors and hedge funds.

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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