CBL & Associates Properties (CBL) was Upgraded by Jefferies to ” Buy”. Earlier the firm had a rating of “Hold ” on the company shares. Jefferies advised their investors in a research report released on Aug 29, 2016.
Many Wall Street Analysts have commented on CBL & Associates Properties. Company shares were Reiterated by Mizuho on Aug 15, 2016 to “Neutral”, Firm has raised the Price Target to $ 14 from a previous price target of $13 .KeyBanc Capital Mkts Upgraded CBL & Associates Properties on Jul 15, 2016 to ” Overweight”, Price Target of the shares are set at $15.
On the company’s financial health, CBL & Associates Properties reported $0.59 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.56. The company had revenue of $254.97 million for the quarter, compared to analysts expectations of $253.66 million. The company’s revenue was up .4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.54 EPS.
CBL & Associates Properties opened for trading at $12.85 and hit $12.939 on the upside on Tuesday, eventually ending the session at $12.89, with a gain of 0.78% or 0.1 points. The heightened volatility saw the trading volume jump to 14,85,920 shares. Company has a market cap of $2,202 M.
In a different news, on Nov 12, 2015, Farzana K Mitchell (CFO) purchased 825 shares at $13.30 per share price. According to the SEC, on Sep 23, 2015, Matthew Dominski (director) purchased 5,000 shares at $25.22 per share price.
CBL & Associates Properties Inc. (CBL) is a self-managed self-administered fully integrated real estate investment trust (REIT). The Company owns develops acquires leases manages and operates regional shopping malls open-air centers outlet centers associated centers community centers and office properties. Its properties are located in 27 states but are primarily in the southeastern and midwestern United States. It is the 100% owner of two qualified REIT subsidiaries CBL Holdings I Inc. and CBL Holdings II Inc. As of December 31 2014 the Company owned a controlling interest in 72 Malls and non-controlling interests in 9 Malls; a controlling interest in 25 Associated Centers and a non-controlling interest in four Associated Centers; a controlling interest in six Community Centers and a non-controlling interest in five Community Centers and a controlling interest in eight Office Buildings and a non-controlling interest in five Office Buildings.