CBL & Associates Properties Inc. (CBL) Releases Earnings Results, Beats Expectations By $0.03 EPS

CBL & Associates Properties Inc. (NYSE:CBL) issued its earnings results on Thursday. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.03. The firm had revenue of $254.97 million for the quarter, compared to analysts’ expectations of $246.78 million. The firm’s revenue for the quarter was up .4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.54 EPS. CBL & Associates Properties updated its FY16 guidance to $2.36-2.40 EPS.

A number of research firms have weighed in on CBL. JPMorgan Chase & Co. restated a “hold” rating on shares of CBL & Associates Properties in a report on Thursday, May 5th. Zacks Investment Research upgraded CBL & Associates Properties from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a report on Thursday, May 5th. TheStreet upgraded CBL & Associates Properties from a “sell” rating to a “hold” rating in a report on Wednesday, April 27th. Mizuho began coverage on CBL & Associates Properties in a report on Wednesday, April 13th. They issued a “neutral” rating and a $13.00 price target for the company. Finally, KeyCorp upgraded CBL & Associates Properties from a “sector weight” rating to an “overweight” rating and set a $15.00 price target for the company in a report on Thursday, July 14th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $12.44.

CBL & Associates Properties (NYSE:CBL) traded up 0.92% during midday trading on Thursday, hitting $10.98. The company had a trading volume of 4,281,626 shares. CBL & Associates Properties has a one year low of $8.86 and a one year high of $16.50. The company’s 50 day moving average is $10.18 and its 200-day moving average is $10.96. The company has a market cap of $1.88 billion and a P/E ratio of 35.77.

The company also recently declared a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Thursday, June 30th were given a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a dividend yield of 9.65%. The ex-dividend date of this dividend was Tuesday, June 28th.

CBL & Associates Properties, Inc (CBL) is a self-managed, self-administered, integrated real estate investment trust (REIT). 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.