State Street Corp lowered its stake in shares of CBL & Associates Properties Inc. (NYSE:CBL) by 10.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,294,058 shares of the real estate investment trust’s stock after selling 482,494 shares during the period. State Street Corp owned 2.52% of CBL & Associates Properties worth $51,102,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. OMERS ADMINISTRATION Corp acquired a new position in CBL & Associates Properties during the first quarter valued at $227,000. Canada Pension Plan Investment Board increased its position in CBL & Associates Properties by 174.4% in the first quarter. Canada Pension Plan Investment Board now owns 21,400 shares of the real estate investment trust’s stock valued at $255,000 after buying an additional 13,600 shares during the period. M&T Bank Corp increased its position in CBL & Associates Properties by 5.5% in the first quarter. M&T Bank Corp now owns 24,249 shares of the real estate investment trust’s stock valued at $290,000 after buying an additional 1,267 shares during the period. Virginia Retirement System acquired a new position in CBL & Associates Properties during the first quarter valued at $453,000. Finally, Menta Capital LLC acquired a new position in CBL & Associates Properties during the first quarter valued at $470,000.
CBL & Associates Properties Inc. (NYSE:CBL) traded up 0.92% during midday trading on Thursday, hitting $10.98. 4,281,626 shares of the company traded hands. The stock has a 50 day moving average price of $10.20 and a 200-day moving average price of $10.96. CBL & Associates Properties Inc. has a 12-month low of $8.86 and a 12-month high of $16.50. The company has a market cap of $1.88 billion and a PE ratio of 35.77.
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Thursday, June 30th were issued a $0.265 dividend. This represents a $1.06 annualized dividend and a yield of 9.65%. The ex-dividend date was Tuesday, June 28th.
Several research firms have weighed in on CBL. Goldman Sachs Group Inc. restated a “hold” rating and set a $10.50 target price on shares of CBL & Associates Properties in a report on Thursday, June 2nd. TheStreet upgraded shares of CBL & Associates Properties from a “sell” rating to a “hold” rating in a report on Wednesday, April 27th. Mizuho dropped their target price on shares of CBL & Associates Properties from $12.00 to $10.50 and set a “neutral” rating for the company in a report on Thursday, May 26th. Zacks Investment Research downgraded shares of CBL & Associates Properties from a “buy” rating to a “hold” rating in a report on Tuesday, May 3rd. Finally, Citigroup Inc. dropped their target price on shares of CBL & Associates Properties from $12.00 to $11.00 and set a “neutral” rating for the company in a report on Thursday, July 7th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $12.44.
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.
