CBL & Associates Properties, Inc. (CBL) Holdings Increased by First Republic Investment Management Inc.

First Republic Investment Management Inc. grew its holdings in shares of CBL & Associates Properties, Inc. (NYSE:CBL) by 2.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 868,518 shares of the real estate investment trust’s stock after acquiring an additional 17,513 shares during the period. First Republic Investment Management Inc.’s holdings in CBL & Associates Properties were worth $1,346,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of CBL. Bank of New York Mellon Corp grew its holdings in 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 worth $15,369,000 after acquiring an additional 116,409 shares during the period. JPMorgan Chase & Co. grew its stake in shares of CBL & Associates Properties by 90.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 830,097 shares of the real estate investment trust’s stock valued at $3,312,000 after buying an additional 393,613 shares during the period. MetLife Investment Advisors LLC grew its stake in shares of CBL & Associates Properties by 55.1% in the 3rd quarter. MetLife Investment Advisors LLC now owns 121,973 shares of the real estate investment trust’s stock valued at $487,000 after buying an additional 43,322 shares during the period. Macquarie Group Ltd. grew its stake in shares of CBL & Associates Properties by 18.3% in the 3rd quarter. Macquarie Group Ltd. now owns 127,800 shares of the real estate investment trust’s stock valued at $510,000 after buying an additional 19,800 shares during the period. Finally, Legal & General Group Plc grew its stake in shares of CBL & Associates Properties by 2.9% in the 3rd quarter. Legal & General Group Plc now owns 1,062,349 shares of the real estate investment trust’s stock valued at $4,271,000 after buying an additional 30,221 shares during the period. Hedge funds and other institutional investors own 77.96% of the company’s stock.

Several analysts have recently commented on CBL shares. Zacks Investment Research upgraded CBL & Associates Properties from a “sell” rating to a “hold” rating in a research note on Tuesday, January 15th. Barclays restated a “hold” rating and issued a $2.00 target price on shares of CBL & Associates Properties in a research note on Tuesday, April 16th. ValuEngine upgraded CBL & Associates Properties from a “sell” rating to a “hold” rating in a research note on Friday, March 1st. Stifel Nicolaus restated a “neutral” rating on shares of CBL & Associates Properties in a research note on Monday, February 11th. Finally, Wells Fargo & Co restated a “sell” rating on shares of CBL & Associates Properties in a research note on Tuesday, February 12th. Seven analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. The company has a consensus rating of “Sell” and an average target price of $2.95.

Shares of CBL opened at $1.31 on Friday. The stock has a market capitalization of $216.83 million, a PE ratio of 0.76, a PEG ratio of -0.25 and a beta of 1.25. CBL & Associates Properties, Inc. has a one year low of $0.99 and a one year high of $6.26.

CBL & Associates Properties (NYSE:CBL) last issued its earnings results on Thursday, February 7th. The real estate investment trust reported $0.45 EPS for the quarter, meeting 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 return on equity of 9.49% and a negative net margin of 14.34%. The firm’s revenue for the quarter was down 7.8% compared to the same quarter last year. During the same period last year, the business posted $0.56 EPS. Analysts anticipate that CBL & Associates Properties, Inc. will post 1.43 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Monday, April 1st were given a $0.075 dividend. The ex-dividend date of this dividend was Friday, March 29th. This represents a $0.30 annualized dividend and a yield of 22.90%. CBL & Associates Properties’s payout ratio is 17.34%.

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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.

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

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