Teachers Insurance & Annuity Association of America decreased its position in CBL & Associates Properties, Inc. (NYSE:CBL) by 34.6% in the first quarter, HoldingsChannel.com reports. The firm owned 156,619 shares of the real estate investment trust’s stock after selling 82,710 shares during the period. Teachers Insurance & Annuity Association of America’s holdings in CBL & Associates Properties were worth $242,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CBL. Norges Bank purchased a new stake in shares of CBL & Associates Properties in the fourth quarter valued at approximately $3,951,000. Mackenzie Financial Corp boosted its holdings in shares of CBL & Associates Properties by 63.1% in the fourth quarter. Mackenzie Financial Corp now owns 3,172,300 shares of the real estate investment trust’s stock valued at $6,091,000 after purchasing an additional 1,227,300 shares during the period. BlackRock Inc. boosted its holdings in shares of CBL & Associates Properties by 2.2% in the fourth quarter. BlackRock Inc. now owns 29,701,312 shares of the real estate investment trust’s stock valued at $57,026,000 after purchasing an additional 648,458 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of CBL & Associates Properties by 90.2% in the third quarter. JPMorgan Chase & Co. now owns 830,097 shares of the real estate investment trust’s stock valued at $3,312,000 after purchasing an additional 393,613 shares during the period. Finally, Vanguard Group Inc boosted its holdings in shares of CBL & Associates Properties by 1.3% in the third quarter. Vanguard Group Inc now owns 25,690,730 shares of the real estate investment trust’s stock valued at $102,506,000 after purchasing an additional 326,710 shares during the period. Hedge funds and other institutional investors own 77.78% of the company’s stock.

Shares of CBL opened at $1.24 on Wednesday. CBL & Associates Properties, Inc. has a 12 month low of $0.99 and a 12 month high of $6.26. The company has a quick ratio of 0.51, a current ratio of 0.36 and a debt-to-equity ratio of 4.07. The firm has a market cap of $223.78 million, a PE ratio of 0.72, a price-to-earnings-growth ratio of -0.25 and a beta of 1.25.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Monday, April 1st were issued a dividend of $0.075 per share. The ex-dividend date of this dividend was Friday, March 29th. This represents a $0.30 annualized dividend and a dividend yield of 24.19%. CBL & Associates Properties’s dividend payout ratio is presently 17.34%.

A number of analysts have weighed in on CBL shares. Zacks Investment Research upgraded CBL & Associates Properties from a “sell” rating to a “hold” rating in a report on Tuesday, January 15th. Barclays restated a “hold” rating and set a $2.00 target price on shares of CBL & Associates Properties in a report on Tuesday, April 16th. ValuEngine upgraded CBL & Associates Properties from a “sell” rating to a “hold” rating in a report on Friday, March 1st. Stifel Nicolaus reiterated a “neutral” rating on shares of CBL & Associates Properties in a report on Monday, February 11th. Finally, Wells Fargo & Co reiterated a “sell” rating on shares of CBL & Associates Properties in a report on Tuesday, February 12th. Seven equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. CBL & Associates Properties presently has an average rating of “Sell” and a consensus target price of $2.95.

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CBL & Associates Properties Company Profile

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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Institutional Ownership by Quarter for CBL & Associates Properties (NYSE:CBL)

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