CBL & Associates Properties, Inc. to Post FY2017 Earnings of $2.27 Per Share, KeyCorp Forecasts (CBL)

CBL & Associates Properties, Inc. (NYSE:CBL) – Analysts at KeyCorp cut their FY2017 EPS estimates for CBL & Associates Properties in a note issued to investors on Tuesday, according to Zacks Investment Research. KeyCorp analyst T. Thomas now anticipates that the real estate investment trust will earn $2.27 per share for the year, down from their prior estimate of $2.28. KeyCorp also issued estimates for CBL & Associates Properties’ FY2018 earnings at $2.32 EPS.

Other equities research analysts have also recently issued reports about the stock. TheStreet raised shares of CBL & Associates Properties from a “d+” rating to a “c” rating in a research note on Wednesday, February 1st. Barclays PLC reduced their target price on shares of CBL & Associates Properties from $13.00 to $10.00 and set an “equal weight” rating on the stock in a report on Monday, January 23rd. Zacks Investment Research upgraded shares of CBL & Associates Properties from a “sell” rating to a “hold” rating in a report on Tuesday. Citigroup Inc upgraded shares of CBL & Associates Properties from a “sell” rating to a “neutral” rating in a report on Monday, January 30th. Finally, BTIG Research initiated coverage on shares of CBL & Associates Properties in a report on Tuesday, January 3rd. They issued a “neutral” rating on the stock. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $12.79.

Earnings History and Estimates for CBL & Associates Properties (NYSE:CBL)

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CBL & Associates Properties (NYSE:CBL) traded up 0.60% during mid-day trading on Thursday, reaching $10.03. 27,347,804 shares of the company traded hands. The firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of 13.37 and a beta of 1.27. CBL & Associates Properties has a 52 week low of $8.72 and a 52 week high of $14.30. The stock’s 50 day moving average price is $9.48 and its 200 day moving average price is $10.79.

CBL & Associates Properties (NYSE:CBL) last released its quarterly earnings results on Wednesday, February 1st. The real estate investment trust reported $0.68 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.45. The company had revenue of $258.49 million for the quarter, compared to analyst estimates of $262.42 million. CBL & Associates Properties had a net margin of 16.81% and a return on equity of 10.25%. The firm’s revenue was down 6.9% on a year-over-year basis. During the same quarter last year, the business earned $0.71 earnings per share.

Several hedge funds and other institutional investors have recently made changes to their positions in CBL. Brookfield Asset Management Inc. raised its position in shares of CBL & Associates Properties by 0.8% in the fourth quarter. Brookfield Asset Management Inc. now owns 12,872,520 shares of the real estate investment trust’s stock valued at $148,034,000 after buying an additional 102,220 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its position in shares of CBL & Associates Properties by 0.5% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 6,041,554 shares of the real estate investment trust’s stock valued at $73,344,000 after buying an additional 28,714 shares during the last quarter. State Street Corp raised its position in shares of CBL & Associates Properties by 1.0% in the fourth quarter. State Street Corp now owns 5,688,733 shares of the real estate investment trust’s stock valued at $65,418,000 after buying an additional 58,894 shares during the last quarter. BlackRock Fund Advisors raised its position in shares of CBL & Associates Properties by 10.7% in the third quarter. BlackRock Fund Advisors now owns 5,456,613 shares of the real estate investment trust’s stock valued at $66,243,000 after buying an additional 525,476 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of CBL & Associates Properties by 0.8% in the third quarter. Northern Trust Corp now owns 4,787,851 shares of the real estate investment trust’s stock valued at $58,124,000 after buying an additional 38,584 shares during the last quarter. Institutional investors and hedge funds own 94.92% of the company’s stock.

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 17th. Stockholders of record on Thursday, March 30th were issued a dividend of $0.265 per share. The ex-dividend date was Tuesday, March 28th. This represents a $1.06 annualized dividend and a dividend yield of 10.57%. CBL & Associates Properties’s payout ratio is currently 141.33%.

About CBL & Associates Properties

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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