CBL & Associates Properties (NYSE:CBL) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of CBL & Associates Properties (NYSE:CBL) from a buy rating to a hold rating in a report published on Tuesday, 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. “

Separately, ValuEngine cut CBL & Associates Properties from a sell rating to a strong sell rating in a report on Tuesday, February 4th. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. The company presently has an average rating of Hold and a consensus price target of $1.27.

CBL & Associates Properties stock traded down $0.02 during mid-day trading on Tuesday, hitting $0.69. 1,775,940 shares of the company’s stock were exchanged, compared to its average volume of 1,420,593. The company’s 50 day simple moving average is $0.95 and its 200-day simple moving average is $1.13. CBL & Associates Properties has a fifty-two week low of $0.70 and a fifty-two week high of $2.38. The firm has a market capitalization of $123.24 million, a P/E ratio of -1.43 and a beta of 1.65. The company has a quick ratio of 0.45, a current ratio of 0.56 and a debt-to-equity ratio of 4.57.

CBL & Associates Properties (NYSE:CBL) last released its quarterly earnings results on Thursday, February 6th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.09). CBL & Associates Properties had a negative net margin of 4.99% and a negative return on equity of 2.44%. The firm had revenue of $189.51 million during the quarter, compared to analyst estimates of $186.64 million. Research analysts expect that CBL & Associates Properties will post 1.08 EPS for the current year.

In related news, Director Michael L. Ashner acquired 1,000,000 shares of the business’s stock in a transaction on Wednesday, December 4th. The stock was purchased at an average cost of $1.04 per share, for a total transaction of $1,040,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 12.31% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC raised its position in shares of CBL & Associates Properties by 8.9% in the third quarter. Commonwealth Equity Services LLC now owns 172,589 shares of the real estate investment trust’s stock valued at $222,000 after buying an additional 14,042 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of CBL & Associates Properties by 151.7% in the third quarter. Tower Research Capital LLC TRC now owns 26,636 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 16,052 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of CBL & Associates Properties by 1.3% in the fourth quarter. Principal Financial Group Inc. now owns 1,385,330 shares of the real estate investment trust’s stock valued at $1,454,000 after buying an additional 17,104 shares in the last quarter. State of Alaska Department of Revenue raised its position in shares of CBL & Associates Properties by 17.4% in the third quarter. State of Alaska Department of Revenue now owns 147,426 shares of the real estate investment trust’s stock valued at $189,000 after buying an additional 21,809 shares in the last quarter. Finally, Rhumbline Advisers raised its position in shares of CBL & Associates Properties by 4.3% in the third quarter. Rhumbline Advisers now owns 582,379 shares of the real estate investment trust’s stock valued at $751,000 after buying an additional 23,903 shares in the last quarter. Institutional investors own 67.02% 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 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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