CBL & Associates Properties (NYSE:CBL) Upgraded to “Hold” at ValuEngine

ValuEngine upgraded shares of CBL & Associates Properties (NYSE:CBL) from a sell rating to a hold rating in a research note published on Thursday, ValuEngine reports.

Several other equities analysts have also issued reports on the stock. Zacks Investment Research lowered shares of CBL & Associates Properties from a hold rating to a sell rating in a report on Wednesday, June 12th. Wells Fargo & Co reissued a sell rating on shares of CBL & Associates Properties in a report on Wednesday, June 26th. Barclays reissued a hold rating and set a $2.00 price objective on shares of CBL & Associates Properties in a report on Tuesday, April 16th. Finally, BTIG Research raised shares of CBL & Associates Properties from a sell rating to a neutral rating and set a $0.82 price objective on the stock in a report on Friday, May 31st. Six research analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. The stock has a consensus rating of Sell and an average price target of $2.16.

CBL stock traded up $0.01 during trading on Thursday, hitting $0.98. 1,032,504 shares of the company’s stock traded hands, compared to its average volume of 2,383,652. The company has a market capitalization of $182.15 million, a price-to-earnings ratio of 0.56, a P/E/G ratio of -0.25 and a beta of 1.52. The stock’s fifty day moving average price is $1.05. The company has a debt-to-equity ratio of 4.07, a current ratio of 0.36 and a quick ratio of 0.36. CBL & Associates Properties has a 1 year low of $0.77 and a 1 year high of $5.23.

CBL & Associates Properties (NYSE:CBL) last released its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported ($0.20) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.55). CBL & Associates Properties had a negative return on equity of 9.85% and a negative net margin of 14.76%. The firm had revenue of $193.38 million during the quarter, compared to analysts’ expectations of $188.72 million. On average, sell-side analysts anticipate that CBL & Associates Properties will post 1.33 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in CBL. BlackRock Inc. grew its holdings in shares of CBL & Associates Properties by 2.2% during the fourth quarter. BlackRock Inc. now owns 29,701,312 shares of the real estate investment trust’s stock valued at $57,026,000 after buying an additional 648,458 shares during the last quarter. Geode Capital Management LLC lifted its position in CBL & Associates Properties by 7.2% during the fourth quarter. Geode Capital Management LLC now owns 2,290,809 shares of the real estate investment trust’s stock valued at $4,397,000 after purchasing an additional 154,764 shares during the period. Mackay Shields LLC acquired a new position in CBL & Associates Properties during the fourth quarter valued at $138,000. Principal Financial Group Inc. lifted its position in CBL & Associates Properties by 0.4% during the fourth quarter. Principal Financial Group Inc. now owns 1,422,183 shares of the real estate investment trust’s stock valued at $2,731,000 after purchasing an additional 6,330 shares during the period. Finally, Two Sigma Investments LP lifted its position in CBL & Associates Properties by 278.6% during the fourth quarter. Two Sigma Investments LP now owns 199,847 shares of the real estate investment trust’s stock valued at $384,000 after purchasing an additional 147,056 shares during the period. 76.84% of the stock is currently owned by hedge funds and other institutional investors.

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

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