Teachers Insurance & Annuity Association of America Sells 10,938 Shares of CBL & Associates Properties, Inc. (CBL)

Teachers Insurance & Annuity Association of America lessened its stake in CBL & Associates Properties, Inc. (NYSE:CBL) by 6.1% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 167,957 shares of the real estate investment trust’s stock after selling 10,938 shares during the quarter. Teachers Insurance & Annuity Association of America owned approximately 0.10% of CBL & Associates Properties worth $1,416,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of CBL & Associates Properties by 5.5% in the first quarter. Vanguard Group Inc. now owns 34,755,930 shares of the real estate investment trust’s stock valued at $331,572,000 after purchasing an additional 1,803,571 shares in the last quarter. BlackRock Inc. lifted its holdings in CBL & Associates Properties by 63.2% during the second quarter. BlackRock Inc. now owns 25,196,153 shares of the real estate investment trust’s stock worth $212,402,000 after acquiring an additional 9,758,738 shares during the period. Brookfield Asset Management Inc. lifted its holdings in CBL & Associates Properties by 2.1% during the first quarter. Brookfield Asset Management Inc. now owns 13,146,270 shares of the real estate investment trust’s stock worth $125,415,000 after acquiring an additional 273,750 shares during the period. State Street Corp lifted its holdings in CBL & Associates Properties by 4.1% during the first quarter. State Street Corp now owns 5,921,888 shares of the real estate investment trust’s stock worth $56,502,000 after acquiring an additional 233,155 shares during the period. Finally, Denver Investment Advisors LLC lifted its holdings in CBL & Associates Properties by 136.6% during the second quarter. Denver Investment Advisors LLC now owns 3,696,445 shares of the real estate investment trust’s stock worth $31,161,000 after acquiring an additional 2,134,359 shares during the period. Institutional investors own 89.46% of the company’s stock.

Shares of CBL & Associates Properties, Inc. (CBL) opened at 8.18 on Thursday. CBL & Associates Properties, Inc. has a 52-week low of $7.15 and a 52-week high of $12.79. The firm has a 50-day moving average price of $8.36 and a 200-day moving average price of $8.67. The stock has a market capitalization of $1.40 billion, a P/E ratio of 13.91 and a beta of 1.16.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, October 2nd will be given a $0.265 dividend. The ex-dividend date is Friday, September 29th. This represents a $1.06 annualized dividend and a yield of 12.96%. CBL & Associates Properties’s dividend payout ratio (DPR) is presently 179.66%.

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A number of analysts recently commented on CBL shares. ValuEngine lowered CBL & Associates Properties from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Morgan Stanley reiterated an “underweight” rating and set a $6.00 price target (down from $10.00) on shares of CBL & Associates Properties in a report on Saturday, June 3rd. Jefferies Group LLC reiterated a “buy” rating and set a $11.00 price target on shares of CBL & Associates Properties in a report on Friday, June 16th. Barclays PLC reiterated a “hold” rating and set a $9.00 price target on shares of CBL & Associates Properties in a report on Friday, June 23rd. Finally, BidaskClub upgraded CBL & Associates Properties from a “sell” rating to a “hold” rating in a report on Wednesday, June 28th. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $10.39.

About CBL & Associates Properties

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.

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

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