CBL & Associates Properties, Inc. (CBL) Declares $0.20 Quarterly Dividend
CBL & Associates Properties, Inc. (NYSE:CBL) announced a quarterly dividend on Thursday, February 22nd, Zacks reports. Stockholders of record on Friday, March 30th will be given a dividend of 0.20 per share by the real estate investment trust on Tuesday, April 17th. This represents a $0.80 annualized dividend and a dividend yield of 18.31%. The ex-dividend date of this dividend is Wednesday, March 28th.
CBL & Associates Properties has increased its dividend payment by an average of 2.7% per year over the last three years. CBL & Associates Properties has a dividend payout ratio of 38.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect CBL & Associates Properties to earn $1.70 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 47.1%.
CBL & Associates Properties (CBL) traded up $0.04 during midday trading on Friday, hitting $4.37. The stock had a trading volume of 1,424,001 shares, compared to its average volume of 3,578,119. CBL & Associates Properties has a 12 month low of $4.00 and a 12 month high of $10.11. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 3.42. The firm has a market cap of $725.10, a P/E ratio of 9.60, a PEG ratio of -0.80 and a beta of 1.17.
A number of research firms recently weighed in on CBL. Barclays restated an “equal weight” rating and issued a $5.00 price target (down previously from $6.00) on shares of CBL & Associates Properties in a research note on Wednesday, March 14th. Jefferies Group restated a “sell” rating and issued a $3.00 price target on shares of CBL & Associates Properties in a research note on Friday, February 23rd. Mizuho set a $5.00 price target on CBL & Associates Properties and gave the company a “sell” rating in a research note on Friday, February 16th. Boenning Scattergood restated a “sell” rating on shares of CBL & Associates Properties in a research note on Monday, February 12th. Finally, ValuEngine cut CBL & Associates Properties from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Nine analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. The stock has a consensus rating of “Sell” and an average target price of $6.47.
About CBL & Associates Properties
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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