CBL & Associates Properties, Inc. (CBL) Shares Bought by California Public Employees Retirement System

California Public Employees Retirement System increased its position in shares of CBL & Associates Properties, Inc. (NYSE:CBL) by 12.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 659,957 shares of the real estate investment trust’s stock after buying an additional 72,014 shares during the period. California Public Employees Retirement System owned about 0.38% of CBL & Associates Properties worth $1,267,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in CBL. Vanguard Group Inc. raised its holdings in shares of CBL & Associates Properties by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 25,690,730 shares of the real estate investment trust’s stock worth $102,506,000 after purchasing an additional 326,710 shares in the last quarter. Vanguard Group Inc raised its holdings in shares of CBL & Associates Properties by 1.3% in the 3rd quarter. Vanguard Group Inc now owns 25,690,730 shares of the real estate investment trust’s stock worth $102,506,000 after purchasing an additional 326,710 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of CBL & Associates Properties by 3.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,851,881 shares of the real estate investment trust’s stock worth $15,369,000 after purchasing an additional 116,409 shares in the last quarter. Mackenzie Financial Corp raised its holdings in shares of CBL & Associates Properties by 63.1% in the 4th quarter. Mackenzie Financial Corp now owns 3,172,300 shares of the real estate investment trust’s stock worth $6,091,000 after purchasing an additional 1,227,300 shares in the last quarter. Finally, Adams Asset Advisors LLC raised its holdings in shares of CBL & Associates Properties by 102.8% in the 4th quarter. Adams Asset Advisors LLC now owns 1,820,936 shares of the real estate investment trust’s stock worth $3,496,000 after purchasing an additional 923,055 shares in the last quarter. 77.92% of the stock is currently owned by hedge funds and other institutional investors.

CBL stock traded up $0.02 during trading hours on Wednesday, hitting $1.08. The company’s stock had a trading volume of 6,697,343 shares, compared to its average volume of 3,339,704. The company has a market capitalization of $183.87 million, a price-to-earnings ratio of 0.62, a P/E/G ratio of -0.23 and a beta of 1.43. CBL & Associates Properties, Inc. has a 12 month low of $1.03 and a 12 month high of $6.26.

CBL & Associates Properties (NYSE:CBL) last posted its earnings results on Thursday, February 7th. The real estate investment trust reported $0.45 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.45. The company had revenue of $216.90 million during the quarter, compared to the consensus estimate of $216.50 million. CBL & Associates Properties had a negative net margin of 9.33% and a negative return on equity of 6.84%. The company’s revenue for the quarter was down 7.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.56 earnings per share. As a group, sell-side analysts expect that CBL & Associates Properties, Inc. will post 1.43 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Monday, April 1st were issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 27.78%. The ex-dividend date was Friday, March 29th. CBL & Associates Properties’s dividend payout ratio is currently 17.34%.

A number of equities research analysts have recently issued reports on CBL shares. Zacks Investment Research upgraded shares of CBL & Associates Properties from a “sell” rating to a “hold” rating in a report on Tuesday, January 15th. Barclays restated a “hold” rating and set a $2.00 price target on shares of CBL & Associates Properties in a report on Tuesday, April 16th. ValuEngine upgraded shares of CBL & Associates Properties from a “sell” rating to a “hold” rating in a report on Friday, March 1st. Stifel Nicolaus reaffirmed a “neutral” rating on shares of CBL & Associates Properties in a research report on Monday, February 11th. Finally, Wells Fargo & Co reaffirmed a “sell” rating on shares of CBL & Associates Properties in a research report on Tuesday, February 12th. Seven investment analysts have rated the stock with a sell rating and four have given a hold rating to the company. CBL & Associates Properties currently has an average rating of “Sell” and a consensus price target of $3.13.

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CBL & Associates Properties Profile

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 115 properties totaling 71.5 million square feet across 26 states, including 72 high-quality enclosed, outlet and open-air retail centers and 11 properties managed for third parties.

Further Reading: Stock Symbol

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

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