CBL & Associates Properties (NYSE:CBL) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research cut shares of CBL & Associates Properties (NYSE:CBL) from a hold rating to a sell rating in a research report released on Monday morning, Zacks.com reports.

According to Zacks, “CBL & Associates Properties, Inc. is a fully integrated real estate investment trust which owns, develops, acquires, leases, manages, and operates regional shopping malls, open-air centers, community centers and office properties. The Company conducts substantially all of its business through its operating partnership. It owns two qualified REIT subsidiaries: CBL Holdings I, Inc. and CBL Holdings II, Inc. CBL & Associates Properties is headquartered in Chattanooga, Tennessee. “

A number of other brokerages also recently issued reports on CBL. ValuEngine upgraded CBL & Associates Properties from a sell rating to a hold rating in a report on Thursday, August 1st. BTIG Research upgraded CBL & Associates Properties from a sell rating to a neutral rating and set a $0.82 price target on the stock in a report on Friday, May 31st. Finally, Wells Fargo & Co reaffirmed a sell rating on shares of CBL & Associates Properties in a research report on Wednesday, June 26th. Five analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The company currently has a consensus rating of Sell and an average target price of $1.71.

CBL opened at $0.82 on Monday. The company has a market cap of $147.45 million, a P/E ratio of 0.57, a P/E/G ratio of -0.21 and a beta of 1.52. The business’s 50-day moving average price is $0.98 and its 200-day moving average price is $1.36. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 4.21. CBL & Associates Properties has a 12 month low of $0.77 and a 12 month high of $4.62.

CBL & Associates Properties (NYSE:CBL) last announced its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $188.72 million. Equities research analysts forecast that CBL & Associates Properties will post 1.33 earnings per share for the current fiscal year.

A number of institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC boosted its position in CBL & Associates Properties by 94.1% during the 2nd quarter. Renaissance Technologies LLC now owns 3,247,600 shares of the real estate investment trust’s stock valued at $3,378,000 after acquiring an additional 1,574,800 shares in the last quarter. Geode Capital Management LLC boosted its position in CBL & Associates Properties by 7.2% during the 4th 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 acquiring an additional 154,764 shares in the last quarter. Norges Bank bought a new stake in CBL & Associates Properties during the 4th quarter valued at approximately $3,951,000. Zweig DiMenna Associates LLC boosted its position in CBL & Associates Properties by 69.3% during the 2nd quarter. Zweig DiMenna Associates LLC now owns 1,532,738 shares of the real estate investment trust’s stock valued at $1,594,000 after acquiring an additional 627,240 shares in the last quarter. Finally, Invesco Ltd. boosted its position in CBL & Associates Properties by 17.5% during the 2nd quarter. Invesco Ltd. now owns 1,471,755 shares of the real estate investment trust’s stock valued at $1,531,000 after acquiring an additional 219,676 shares in the last quarter. 77.51% of the stock is currently owned by institutional investors and hedge funds.

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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