Wall Street analysts forecast that CBL & Associates Properties, Inc. (NYSE:CBL) will report earnings per share of $0.41 for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for CBL & Associates Properties’ earnings, with the highest EPS estimate coming in at $0.42 and the lowest estimate coming in at $0.39. CBL & Associates Properties posted earnings per share of $0.50 in the same quarter last year, which would indicate a negative year over year growth rate of 18%. The firm is expected to report its next earnings results after the market closes on Monday, October 29th.
On average, analysts expect that CBL & Associates Properties will report full year earnings of $1.74 per share for the current fiscal year, with EPS estimates ranging from $1.70 to $1.77. For the next fiscal year, analysts anticipate that the company will post earnings of $1.62 per share, with EPS estimates ranging from $1.48 to $1.72. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for CBL & Associates Properties.
CBL & Associates Properties (NYSE:CBL) last released its quarterly earnings results on Wednesday, August 1st. The real estate investment trust reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.04. The firm had revenue of $214.59 million for the quarter, compared to the consensus estimate of $210.72 million. CBL & Associates Properties had a return on equity of 1.76% and a net margin of 2.52%. The firm’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.58 EPS.
A number of research analysts recently issued reports on CBL shares. Zacks Investment Research upgraded CBL & Associates Properties from a “sell” rating to a “hold” rating in a research note on Wednesday, June 13th. Morgan Stanley lowered their target price on CBL & Associates Properties from $4.75 to $3.75 and set an “underweight” rating on the stock in a research note on Thursday, June 14th. ValuEngine downgraded CBL & Associates Properties from a “sell” rating to a “strong sell” rating in a research note on Monday, July 2nd. Stifel Nicolaus lifted their target price on CBL & Associates Properties from $4.25 to $4.75 and gave the company a “hold” rating in a research note on Thursday, August 2nd. Finally, BTIG Research downgraded CBL & Associates Properties from a “neutral” rating to a “sell” rating in a research note on Tuesday, August 7th. Ten analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. The company has an average rating of “Sell” and an average target price of $4.19.
NYSE:CBL traded down $0.07 during mid-day trading on Friday, reaching $3.73. 257,890 shares of the stock were exchanged, compared to its average volume of 3,574,111. The company has a market capitalization of $688.94 million, a PE ratio of 1.75, a P/E/G ratio of -0.76 and a beta of 0.96. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 3.55. CBL & Associates Properties has a 1 year low of $3.58 and a 1 year high of $8.79.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 16th. Investors of record on Monday, October 1st will be paid a $0.20 dividend. The ex-dividend date is Friday, September 28th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 21.45%. CBL & Associates Properties’s dividend payout ratio (DPR) is presently 38.46%.
Several institutional investors have recently bought and sold shares of CBL. BlackRock Inc. boosted its stake in shares of CBL & Associates Properties by 8.1% in the second quarter. BlackRock Inc. now owns 29,029,587 shares of the real estate investment trust’s stock valued at $161,695,000 after buying an additional 2,168,991 shares in the last quarter. Global X Management Co LLC acquired a new position in CBL & Associates Properties during the second quarter worth $8,081,000. First Republic Investment Management Inc. acquired a new position in CBL & Associates Properties during the second quarter worth $4,739,000. Northwestern Mutual Investment Management Company LLC acquired a new position in CBL & Associates Properties during the first quarter worth $3,220,000. Finally, Schwab Charles Investment Management Inc. raised its holdings in CBL & Associates Properties by 19.9% during the second quarter. Schwab Charles Investment Management Inc. now owns 3,853,945 shares of the real estate investment trust’s stock worth $21,467,000 after purchasing an additional 638,513 shares during the last quarter. Hedge funds and other institutional investors own 76.54% of the company’s stock.
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 117 properties totaling 72.8 million square feet across 26 states, including 74 high-quality enclosed, outlet and open-air retail centers and 13 properties managed for third parties.
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