CBL & Associates Properties, Inc. (CBL) Shares Sold by Municipal Employees Retirement System of Michigan

Municipal Employees Retirement System of Michigan trimmed its holdings in shares of CBL & Associates Properties, Inc. (NYSE:CBL) by 29.4% in the 2nd quarter, Holdings Channel reports. The firm owned 48,670 shares of the real estate investment trust’s stock after selling 20,290 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in CBL & Associates Properties were worth $271,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in CBL. Nisa Investment Advisors LLC grew its stake in shares of CBL & Associates Properties by 59.7% during the second quarter. Nisa Investment Advisors LLC now owns 172,360 shares of the real estate investment trust’s stock worth $960,000 after acquiring an additional 64,400 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of CBL & Associates Properties by 2.3% during the first quarter. Principal Financial Group Inc. now owns 1,341,071 shares of the real estate investment trust’s stock worth $5,592,000 after acquiring an additional 29,957 shares during the last quarter. Royal Bank of Canada grew its stake in shares of CBL & Associates Properties by 18.4% during the first quarter. Royal Bank of Canada now owns 501,604 shares of the real estate investment trust’s stock worth $2,093,000 after acquiring an additional 78,117 shares during the last quarter. Sentinel Trust Co. LBA grew its stake in shares of CBL & Associates Properties by 35.3% during the first quarter. Sentinel Trust Co. LBA now owns 73,885 shares of the real estate investment trust’s stock worth $308,000 after acquiring an additional 19,275 shares during the last quarter. Finally, MetLife Investment Advisors LLC grew its stake in shares of CBL & Associates Properties by 22.5% during the first quarter. MetLife Investment Advisors LLC now owns 78,651 shares of the real estate investment trust’s stock worth $328,000 after acquiring an additional 14,440 shares during the last quarter. Institutional investors and hedge funds own 76.15% of the company’s stock.

CBL has been the topic of a number of research analyst reports. Zacks Investment Research upgraded CBL & Associates Properties from a “sell” rating to a “hold” rating in a research note on Friday, August 3rd. Bank of America dropped their target price on CBL & Associates Properties from $4.50 to $4.00 and set an “underperform” rating on the stock in a research report on Monday. Morgan Stanley dropped their target price on CBL & Associates Properties from $4.75 to $3.75 and set an “underweight” rating on the stock in a research report on Thursday, June 14th. ValuEngine upgraded CBL & Associates Properties from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 8th. Finally, Stifel Nicolaus dropped their target price on CBL & Associates Properties from $5.00 to $4.25 and set a “hold” rating on the stock in a research report on Friday, April 27th. Ten analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. CBL & Associates Properties has an average rating of “Sell” and a consensus price target of $4.19.



Shares of NYSE CBL opened at $4.50 on Wednesday. The company has a market capitalization of $766.64 million, a P/E ratio of 2.16, a PEG ratio of -0.85 and a beta of 1.14. CBL & Associates Properties, Inc. has a 52 week low of $3.80 and a 52 week high of $9.10. The company has a debt-to-equity ratio of 3.55, a quick ratio of 0.51 and a current ratio of 0.51.

CBL & Associates Properties (NYSE:CBL) last issued its earnings results on Wednesday, August 1st. The real estate investment trust reported $0.46 EPS for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.04. The firm had revenue of $214.59 million for the quarter, compared to analyst estimates of $210.72 million. CBL & Associates Properties had a return on equity of 1.76% and a net margin of 2.52%. CBL & Associates Properties’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.58 earnings per share. sell-side analysts predict that CBL & Associates Properties, Inc. will post 1.74 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, July 16th. Investors of record on Monday, July 2nd were given a $0.20 dividend. The ex-dividend date was Friday, June 29th. This represents a $0.80 dividend on an annualized basis and a yield of 17.78%. CBL & Associates Properties’s dividend payout ratio is currently 38.46%.

CBL & Associates Properties 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 73.4 million square feet across 26 states, including 75 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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