Analysts Set CBL & Associates Properties, Inc. (CBL) Target Price at $3.00

CBL & Associates Properties, Inc. (NYSE:CBL) has been given an average recommendation of “Sell” by the twelve research firms that are currently covering the stock, Marketbeat Ratings reports. Seven analysts have rated the stock with a sell rating and four have given a hold rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $3.00.

A number of research analysts have weighed in on the stock. Mizuho set a $2.00 target price on shares of CBL & Associates Properties and gave the company a “sell” rating in a research note on Sunday, December 16th. Zacks Investment Research cut shares of CBL & Associates Properties from a “hold” rating to a “sell” rating in a research note on Tuesday, January 29th. Stifel Nicolaus restated a “neutral” rating on shares of CBL & Associates Properties in a research note on Monday, February 11th. JPMorgan Chase & Co. cut shares of CBL & Associates Properties from a “neutral” rating to an “underweight” rating in a research note on Wednesday, December 19th. Finally, Wells Fargo & Co restated a “sell” rating on shares of CBL & Associates Properties in a research note on Tuesday, February 12th.

CBL traded down $0.02 during midday trading on Wednesday, reaching $1.49. The company had a trading volume of 3,306,015 shares, compared to its average volume of 3,318,190. The stock has a market cap of $263.66 million, a price-to-earnings ratio of 0.86, a PEG ratio of -0.27 and a beta of 1.43. CBL & Associates Properties has a 12-month low of $1.39 and a 12-month high of $6.26.

CBL & Associates Properties (NYSE:CBL) last released its earnings results on Thursday, February 7th. The real estate investment trust reported $0.45 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.45. The firm had revenue of $216.90 million for the quarter, compared to analysts’ expectations 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 quarterly revenue was down 7.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.56 earnings per share. On average, sell-side analysts expect that CBL & Associates Properties will post 1.44 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 16th. Investors of record on Monday, April 1st will be paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 20.13%. The ex-dividend date of this dividend is Friday, March 29th. CBL & Associates Properties’s payout ratio is currently 17.34%.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. increased its holdings in shares of CBL & Associates Properties by 2.2% in the 4th quarter. BlackRock Inc. now owns 29,701,312 shares of the real estate investment trust’s stock worth $57,026,000 after buying an additional 648,458 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of CBL & Associates Properties by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 25,690,730 shares of the real estate investment trust’s stock valued at $102,506,000 after purchasing an additional 326,710 shares during the last quarter. Vanguard Group Inc grew its holdings in shares of CBL & Associates Properties by 1.3% during the 3rd quarter. Vanguard Group Inc now owns 25,690,730 shares of the real estate investment trust’s stock valued at $102,506,000 after purchasing an additional 326,710 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of CBL & Associates Properties by 3.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,851,881 shares of the real estate investment trust’s stock valued at $15,369,000 after purchasing an additional 116,409 shares during the last quarter. Finally, Mackenzie Financial Corp grew its holdings in shares of CBL & Associates Properties by 63.1% during the 4th quarter. Mackenzie Financial Corp now owns 3,172,300 shares of the real estate investment trust’s stock valued at $6,091,000 after purchasing an additional 1,227,300 shares during the last quarter. Institutional investors and hedge funds own 77.92% of the company’s stock.

About CBL & Associates Properties

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.

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Analyst Recommendations for CBL & Associates Properties (NYSE:CBL)

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