Wells Fargo & Company downgraded shares of CBL & Associates Properties, Inc. (NYSE:CBL) from a market perform rating to an underperform rating in a research note released on Friday, Marketbeat Ratings reports.

CBL has been the subject of a number of other reports. BidaskClub upgraded CBL & Associates Properties from a hold rating to a buy rating in a research note on Tuesday, August 1st. Stifel Nicolaus began coverage on CBL & Associates Properties in a research note on Friday, July 14th. They issued a hold rating and a $8.25 price target for the company. Bank of America Corporation cut CBL & Associates Properties from a neutral rating to an underperform rating and set a $6.50 price target for the company. in a research note on Friday. Zacks Investment Research upgraded CBL & Associates Properties from a sell rating to a hold rating in a research note on Tuesday, August 15th. Finally, KeyCorp reiterated a hold rating on shares of CBL & Associates Properties in a research note on Wednesday, October 4th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company’s stock. CBL & Associates Properties has a consensus rating of Hold and an average price target of $9.72.

CBL & Associates Properties (NYSE CBL) traded down $0.28 during trading on Friday, reaching $5.64. The company’s stock had a trading volume of 8,497,376 shares, compared to its average volume of 4,010,000. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.57 and a current ratio of 0.51. CBL & Associates Properties has a 52 week low of $5.76 and a 52 week high of $12.35. The stock has a market capitalization of $1,000.00, a PE ratio of 2.69, a PEG ratio of 0.99 and a beta of 1.22.

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The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 14.18%. The ex-dividend date of this dividend is Thursday, December 28th. CBL & Associates Properties’s payout ratio is 168.25%.

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of CBL & Associates Properties by 1.0% in the second quarter. Vanguard Group Inc. now owns 35,109,341 shares of the real estate investment trust’s stock worth $295,972,000 after purchasing an additional 353,411 shares during the last quarter. BlackRock Inc. raised its stake in shares of CBL & Associates Properties by 63.2% in 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 last quarter. Brookfield Asset Management Inc. raised its stake in shares of 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 worth $124,865,000 after purchasing an additional 1,665,655 shares during the last quarter. State Street Corp raised its stake in shares of CBL & Associates Properties by 16.1% in the second quarter. State Street Corp now owns 6,874,361 shares of the real estate investment trust’s stock worth $57,954,000 after purchasing an additional 952,473 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of CBL & Associates Properties by 10.2% in the second quarter. Northern Trust Corp now owns 4,354,255 shares of the real estate investment trust’s stock worth $36,706,000 after purchasing an additional 403,257 shares during the last quarter. Hedge funds and other institutional investors own 89.39% of the company’s stock.

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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