ValuEngine Upgrades CBL & Associates Properties (NYSE:CBL) to “Buy”

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CBL & Associates Properties (NYSE:CBL) was upgraded by stock analysts at ValuEngine from a “hold” rating to a “buy” rating in a report released on Friday, November 1st, ValuEngine reports.

Separately, Zacks Investment Research upgraded CBL & Associates Properties from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. Four research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $1.71.

CBL & Associates Properties stock traded down $0.09 during midday trading on Friday, reaching $1.55. 2,806,263 shares of the company were exchanged, compared to its average volume of 2,921,530. The company has a market capitalization of $277.54 million, a price-to-earnings ratio of 0.90, a P/E/G ratio of -0.42 and a beta of 1.62. The firm’s 50-day simple moving average is $1.41 and its 200-day simple moving average is $1.13. CBL & Associates Properties has a 1 year low of $0.77 and a 1 year high of $3.15. The company has a debt-to-equity ratio of 4.29, a quick ratio of 0.41 and a current ratio of 0.48.

CBL & Associates Properties (NYSE:CBL) last posted its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.19). CBL & Associates Properties had a negative net margin of 19.09% and a negative return on equity of 14.19%. The business had revenue of $187.25 million during the quarter, compared to analysts’ expectations of $191.77 million. On average, analysts forecast that CBL & Associates Properties will post 1.33 EPS for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in the stock. Eqis Capital Management Inc. lifted its position in CBL & Associates Properties by 283.4% during the 3rd quarter. Eqis Capital Management Inc. now owns 114,884 shares of the real estate investment trust’s stock worth $148,000 after acquiring an additional 84,923 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of CBL & Associates Properties by 151.7% in the 3rd quarter. Tower Research Capital LLC TRC now owns 26,636 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 16,052 shares in the last quarter. Arrow Investment Advisors LLC raised its position in shares of CBL & Associates Properties by 42.4% in the 3rd quarter. Arrow Investment Advisors LLC now owns 395,861 shares of the real estate investment trust’s stock valued at $511,000 after purchasing an additional 117,849 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of CBL & Associates Properties by 20.8% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 253,017 shares of the real estate investment trust’s stock valued at $326,000 after purchasing an additional 43,538 shares in the last quarter. Finally, Commonwealth Equity Services LLC raised its position in shares of CBL & Associates Properties by 8.9% in the 3rd quarter. Commonwealth Equity Services LLC now owns 172,589 shares of the real estate investment trust’s stock valued at $222,000 after purchasing an additional 14,042 shares in the last quarter. 64.71% of the stock is currently owned by hedge funds and other institutional investors.

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.

Further Reading: Capital Gains Distribution

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

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