Raymond James Financial cut shares of CBL & Associates Properties (NYSE:CBL) from a market perform rating to an underperform rating in a research note published on Wednesday morning, Marketbeat.com reports.

A number of other research firms also recently issued reports on CBL. Mizuho reiterated a hold rating and set a $9.00 target price on shares of CBL & Associates Properties in a research report on Monday, October 9th. KeyCorp restated a hold rating on shares of CBL & Associates Properties in a report on Wednesday, October 4th. ValuEngine upgraded shares of CBL & Associates Properties from a hold rating to a buy rating in a report on Monday, October 2nd. Boenning Scattergood lowered shares of CBL & Associates Properties from a neutral rating to an under perform rating in a research note on Friday, November 3rd. Finally, Wells Fargo & Co lowered shares of CBL & Associates Properties from a market perform rating to an underperform rating in a research note on Friday, November 3rd. Nine investment analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. CBL & Associates Properties has a consensus rating of Hold and an average price target of $8.81.

Shares of CBL & Associates Properties (NYSE:CBL) opened at $5.74 on Wednesday. The company has a debt-to-equity ratio of 3.39, a current ratio of 0.53 and a quick ratio of 0.53. CBL & Associates Properties has a 12 month low of $5.31 and a 12 month high of $11.92. The company has a market cap of $999.54, a price-to-earnings ratio of 9.11, a PEG ratio of 0.68 and a beta of 1.10.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th will be given a dividend of $0.20 per share. The ex-dividend date is Thursday, December 28th. This represents a $0.80 dividend on an annualized basis and a yield of 13.94%. CBL & Associates Properties’s dividend payout ratio is presently 168.25%.

A number of large investors have recently modified their holdings of CBL. BlackRock Inc. boosted its position in CBL & Associates Properties by 63.2% during the second quarter. BlackRock Inc. now owns 25,196,153 shares of the real estate investment trust’s stock worth $212,402,000 after purchasing an additional 9,758,738 shares during the period. Brookfield Asset Management Inc. raised its stake in CBL & Associates Properties by 12.7% in the second quarter. Brookfield Asset Management Inc. now owns 14,811,925 shares of the real estate investment trust’s stock valued at $124,865,000 after purchasing an additional 1,665,655 shares in the last quarter. Principal Financial Group Inc. raised its stake in CBL & Associates Properties by 6,402.3% in the second quarter. Principal Financial Group Inc. now owns 1,322,120 shares of the real estate investment trust’s stock valued at $11,146,000 after purchasing an additional 1,301,787 shares in the last quarter. Ameriprise Financial Inc. raised its stake in CBL & Associates Properties by 143.7% in the second quarter. Ameriprise Financial Inc. now owns 2,202,367 shares of the real estate investment trust’s stock valued at $18,579,000 after purchasing an additional 1,298,747 shares in the last quarter. Finally, Alpine Woods Capital Investors LLC raised its stake in CBL & Associates Properties by 190.8% in the third quarter. Alpine Woods Capital Investors LLC now owns 1,838,616 shares of the real estate investment trust’s stock valued at $15,426,000 after purchasing an additional 1,206,425 shares in the last quarter. Hedge funds and other institutional investors own 95.81% of the company’s stock.

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CBL & Associates Properties Company Profile

CBL & Associates Properties, Inc is a self-managed, self-administered, integrated real estate investment trust. The Company owns, develops, acquires, leases, manages and operates regional shopping malls, open-air and mixed-use centers, outlet centers, associated centers, community centers and office properties.

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

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