CBL & Associates Properties, Inc. (NYSE:CBL) – Analysts at Jefferies Group decreased their FY2019 earnings estimates for CBL & Associates Properties in a report issued on Thursday, April 12th. Jefferies Group analyst O. Okusanya now forecasts that the real estate investment trust will post earnings per share of $1.53 for the year, down from their prior estimate of $1.54. Jefferies Group has a “Sell” rating and a $3.00 price target on the stock.
CBL has been the topic of several other research reports. ValuEngine cut shares of CBL & Associates Properties from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Stifel Nicolaus restated a “hold” rating and set a $6.00 target price on shares of CBL & Associates Properties in a research note on Friday, January 12th. Raymond James Financial cut shares of CBL & Associates Properties from a “market perform” rating to an “underperform” rating in a research note on Wednesday, December 20th. Barclays restated an “equal weight” rating and set a $5.00 target price (down previously from $6.00) on shares of CBL & Associates Properties in a research note on Wednesday, March 14th. Finally, Boenning Scattergood restated a “sell” rating on shares of CBL & Associates Properties in a research note on Monday, February 12th. Nine equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. The stock currently has an average rating of “Sell” and an average price target of $6.47.
CBL & Associates Properties (NYSE:CBL) last posted its earnings results on Thursday, February 8th. The real estate investment trust reported $0.56 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.41. The business had revenue of $235.30 million for the quarter, compared to analysts’ expectations of $246.46 million. CBL & Associates Properties had a net margin of 13.04% and a return on equity of 8.14%. The business’s revenue for the quarter was down 9.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.68 EPS.
Several large investors have recently modified their holdings of the company. Meitav Dash Investments Ltd. bought a new position in shares of CBL & Associates Properties in the 4th quarter worth approximately $414,000. MetLife Investment Advisors LLC bought a new position in shares of CBL & Associates Properties in the 4th quarter worth approximately $363,000. Jane Street Group LLC bought a new position in shares of CBL & Associates Properties in the 4th quarter worth approximately $679,000. Zeke Capital Advisors LLC bought a new position in shares of CBL & Associates Properties in the 4th quarter worth approximately $118,000. Finally, Millennium Management LLC bought a new position in shares of CBL & Associates Properties in the 4th quarter worth approximately $715,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 17th. Stockholders of record on Friday, March 30th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 18.65%. The ex-dividend date of this dividend is Wednesday, March 28th. CBL & Associates Properties’s dividend payout ratio (DPR) is presently 38.46%.
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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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