CBL & Associates Properties (CBL) Debt Trading 1.5% Higher

An issue of CBL & Associates Properties, Inc. (NYSE:CBL) bonds rose 1.5% against their face value during trading on Monday. The debt issue has a 5.95% coupon and will mature on December 15, 2026. The debt is now trading at $85.65. Price moves in a company’s bonds in credit markets often predict parallel moves in its share price.

Several research firms have recently commented on CBL. Mizuho set a $5.00 price target on CBL & Associates Properties and gave the stock a “sell” rating in a report on Friday, February 16th. Boenning Scattergood restated a “sell” rating on shares of CBL & Associates Properties in a report on Monday, February 12th. ValuEngine lowered shares of CBL & Associates Properties from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Citigroup lowered shares of CBL & Associates Properties from a “neutral” rating to a “sell” rating and set a $4.00 price objective on the stock. in a report on Thursday, December 14th. Finally, Barclays restated an “equal weight” rating and issued a $5.00 price objective (down from $6.00) on shares of CBL & Associates Properties in a report on Wednesday, March 14th. Nine equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. The stock presently has an average rating of “Sell” and a consensus price target of $6.47.

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Shares of CBL opened at $4.46 on Wednesday. The stock has a market capitalization of $759.63, a P/E ratio of 2.14, a P/E/G ratio of -0.84 and a beta of 1.14. The company has a debt-to-equity ratio of 3.42, a quick ratio of 0.55 and a current ratio of 0.55. CBL & Associates Properties, Inc. has a 12-month low of $4.00 and a 12-month high of $10.11.

CBL & Associates Properties (NYSE:CBL) last released its earnings results on Thursday, February 8th. The real estate investment trust reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.41. The company had revenue of $235.30 million during the quarter, compared to the consensus estimate of $246.46 million. CBL & Associates Properties had a return on equity of 8.14% and a net margin of 13.04%. CBL & Associates Properties’s revenue was down 9.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.68 EPS. analysts expect that CBL & Associates Properties, Inc. will post 1.75 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 17th. Shareholders of record on Friday, March 30th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 17.94%. The ex-dividend date of this dividend is Wednesday, March 28th. CBL & Associates Properties’s dividend payout ratio is currently 38.46%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. MML Investors Services LLC acquired a new position in CBL & Associates Properties in the 4th quarter valued at about $116,000. Zeke Capital Advisors LLC acquired a new position in CBL & Associates Properties in the 4th quarter valued at about $118,000. Engineers Gate Manager LP acquired a new position in CBL & Associates Properties in the 4th quarter valued at about $144,000. Fox Run Management L.L.C. acquired a new position in CBL & Associates Properties in the 4th quarter valued at about $148,000. Finally, Bank of Montreal Can grew its position in CBL & Associates Properties by 74.5% in the 4th quarter. Bank of Montreal Can now owns 30,524 shares of the real estate investment trust’s stock valued at $173,000 after acquiring an additional 13,032 shares in the last quarter. 79.78% of the stock is owned by institutional investors.

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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.

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