CBL & Associates Properties, Inc. (NYSE:CBL) – KeyCorp reduced their FY2019 earnings estimates for shares of CBL & Associates Properties in a research report issued to clients and investors on Thursday, April 11th. KeyCorp analyst T. Thomas now forecasts that the real estate investment trust will post earnings per share of $1.44 for the year, down from their previous forecast of $1.52. KeyCorp also issued estimates for CBL & Associates Properties’ FY2020 earnings at $1.33 EPS.

CBL & Associates Properties (NYSE:CBL) last released its quarterly earnings data on Thursday, February 7th. The real estate investment trust reported $0.45 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.45. The firm had revenue of $216.90 million for the quarter, compared to analyst estimates of $216.50 million. CBL & Associates Properties had a negative return on equity of 6.84% and a negative net margin of 9.33%. The business’s revenue for the quarter was down 7.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.56 earnings per share.

CBL has been the topic of several other research reports. Zacks Investment Research lowered CBL & Associates Properties from a “hold” rating to a “sell” rating in a research note on Tuesday, January 29th. Stifel Nicolaus restated a “neutral” rating on shares of CBL & Associates Properties in a research note on Monday, February 11th. Wells Fargo & Co restated a “sell” rating on shares of CBL & Associates Properties in a research note on Tuesday, February 12th. ValuEngine upgraded CBL & Associates Properties from a “sell” rating to a “hold” rating in a research note on Friday, March 1st. Finally, Barclays reiterated a “hold” rating and set a $3.00 target price on shares of CBL & Associates Properties in a research note on Thursday, March 14th. Seven investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. CBL & Associates Properties presently has an average rating of “Sell” and an average target price of $3.29.

NYSE:CBL opened at $1.39 on Monday. The company has a market capitalization of $249.52 million, a price-to-earnings ratio of 0.80, a price-to-earnings-growth ratio of -0.28 and a beta of 1.43. CBL & Associates Properties has a 12-month low of $1.35 and a 12-month high of $6.26.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 16th. Stockholders of record on Monday, April 1st will be paid a dividend of $0.075 per share. The ex-dividend date of this dividend is Friday, March 29th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 21.58%. CBL & Associates Properties’s dividend payout ratio (DPR) is currently 17.34%.

Several hedge funds and other institutional investors have recently made changes to their positions in CBL. Norges Bank bought a new position in shares of CBL & Associates Properties during the fourth quarter worth approximately $3,951,000. Mackenzie Financial Corp bought a new position in shares of CBL & Associates Properties during the third quarter worth approximately $7,761,000. Adams Asset Advisors LLC increased its stake in shares of CBL & Associates Properties by 102.8% during the fourth quarter. Adams Asset Advisors LLC now owns 1,820,936 shares of the real estate investment trust’s stock worth $3,496,000 after purchasing an additional 923,055 shares during the period. BlackRock Inc. increased its stake 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 worth $57,026,000 after purchasing an additional 648,458 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in CBL & Associates Properties by 90.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 830,097 shares of the real estate investment trust’s stock worth $3,312,000 after acquiring an additional 393,613 shares during the period. Institutional investors own 77.92% 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 115 properties totaling 71.5 million square feet across 26 states, including 72 high-quality enclosed, outlet and open-air retail centers and 11 properties managed for third parties.

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Earnings History and Estimates for CBL & Associates Properties (NYSE:CBL)

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