CBL & Associates Properties (NYSE:CBL) Stock Price Down 5.7%

CBL & Associates Properties, Inc. (NYSE:CBL) dropped 5.7% on Thursday . The company traded as low as $0.81 and last traded at $0.82, approximately 1,107,318 shares changed hands during trading. A decline of 63% from the average daily volume of 2,983,685 shares. The stock had previously closed at $0.87.

CBL has been the topic of a number of recent research reports. Wells Fargo & Co reissued a “sell” rating on shares of CBL & Associates Properties in a research note on Wednesday, June 26th. Zacks Investment Research downgraded CBL & Associates Properties from a “hold” rating to a “sell” rating in a research report on Monday, August 19th. BTIG Research upgraded CBL & Associates Properties from a “sell” rating to a “neutral” rating and set a $0.82 target price on the stock in a research report on Friday, May 31st. Finally, ValuEngine upgraded CBL & Associates Properties from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Five investment analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. The stock presently has a consensus rating of “Sell” and an average target price of $1.71.

The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 4.21. The company has a market cap of $150.43 million, a PE ratio of 0.46, a P/E/G ratio of -0.22 and a beta of 1.52. The stock has a 50-day simple moving average of $0.98 and a 200 day simple moving average of $1.35.

CBL & Associates Properties (NYSE:CBL) last posted its earnings results on Wednesday, July 31st. The real estate investment trust reported ($0.20) EPS for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.55). CBL & Associates Properties had a negative net margin of 14.76% and a negative return on equity of 10.14%. The business had revenue of $193.38 million during the quarter, compared to analysts’ expectations of $188.72 million. As a group, research analysts anticipate that CBL & Associates Properties, Inc. will post 1.33 earnings per share for the current fiscal year.

A number of large investors have recently bought and sold shares of CBL. Parsec Financial Management Inc. raised its holdings in shares of CBL & Associates Properties by 55.0% in the 1st quarter. Parsec Financial Management Inc. now owns 105,730 shares of the real estate investment trust’s stock valued at $164,000 after buying an additional 37,500 shares during the period. Mercer Global Advisors Inc. ADV purchased a new stake in CBL & Associates Properties during the 1st quarter worth about $46,000. Eqis Capital Management Inc. increased its holdings in CBL & Associates Properties by 65.9% during the 1st quarter. Eqis Capital Management Inc. now owns 38,647 shares of the real estate investment trust’s stock worth $60,000 after purchasing an additional 15,345 shares during the period. Norges Bank purchased a new stake in CBL & Associates Properties during the 4th quarter worth about $3,951,000. Finally, BNP Paribas Arbitrage SA increased its holdings in CBL & Associates Properties by 22.4% during the 1st quarter. BNP Paribas Arbitrage SA now owns 65,191 shares of the real estate investment trust’s stock worth $101,000 after purchasing an additional 11,948 shares during the period. Institutional investors own 77.51% of the company’s stock.

CBL & Associates Properties Company Profile (NYSE:CBL)

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 71.1 million square feet across 26 states, including 71 high-quality enclosed, outlet and open-air retail centers and 11 properties managed for third parties.

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