CBL & Associates Properties, Inc. (CBL) Plans $0.20 Quarterly Dividend
CBL & Associates Properties, Inc. (NYSE:CBL) announced a quarterly dividend on Friday, November 3rd, Wall Street Journal reports. Shareholders of record on Friday, December 29th will be paid a dividend of 0.20 per share by the real estate investment trust on Tuesday, January 16th. This represents a $0.80 dividend on an annualized basis and a yield of 13.51%. The ex-dividend date of this dividend is Thursday, December 28th.
CBL & Associates Properties has raised its dividend by an average of 5.2% per year over the last three years. CBL & Associates Properties has a dividend payout ratio of 36.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect CBL & Associates Properties to earn $2.18 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 36.7%.
Shares of CBL & Associates Properties (NYSE CBL) opened at $5.92 on Friday. The firm has a market capitalization of $1.37 billion, a PE ratio of 3.63, a price-to-earnings-growth ratio of 1.27 and a beta of 1.22. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 3.27.
A number of brokerages have issued reports on CBL. BidaskClub raised shares of CBL & Associates Properties from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Stifel Nicolaus began coverage on shares of CBL & Associates Properties in a report on Friday, July 14th. They issued a “hold” rating and a $8.25 price target on the stock. Bank of America Corporation lowered shares of CBL & Associates Properties from a “neutral” rating to an “underperform” rating and set a $6.50 price target on the stock. in a report on Friday. Wells Fargo & Company lowered shares of CBL & Associates Properties from a “market perform” rating to an “underperform” rating in a report on Friday. Finally, Zacks Investment Research raised shares of CBL & Associates Properties from a “sell” rating to a “hold” rating in a report on Tuesday, August 15th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $9.72.
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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