Greenwich Investment Management buys $3,551,792 stake in CBL & Associates Properties (CBL)

CBL & Associates Properties (CBL) : Greenwich Investment Management scooped up 48,530 additional shares in CBL & Associates Properties during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 282,786 shares of CBL & Associates Properties which is valued at $3,551,792.CBL & Associates Properties makes up approximately 3.63% of Greenwich Investment Management’s portfolio.

Other Hedge Funds, Including , Wolverine Asset Management boosted its stake in CBL in the latest quarter, The investment management firm added 101,046 additional shares and now holds a total of 167,940 shares of CBL & Associates Properties which is valued at $2,109,326. CBL & Associates Properties makes up approx 0.19% of Wolverine Asset Management’s portfolio.Global X Management Co boosted its stake in CBL in the latest quarter, The investment management firm added 30,804 additional shares and now holds a total of 662,821 shares of CBL & Associates Properties which is valued at $8,252,121. CBL & Associates Properties makes up approx 0.40% of Global X Management Co’s portfolio. Regal Investment Advisors added CBL to its portfolio by purchasing 13,409 company shares during the most recent quarter which is valued at $163,724. CBL & Associates Properties makes up approx 0.04% of Regal Investment Advisors’s portfolio. Farmers Merchants Investments Inc sold out all of its stake in CBL during the most recent quarter. The investment firm sold 1,080 shares of CBL which is valued $11,956.

CBL & Associates Properties closed down -0.67 points or -4.70% at $13.6 with 57,39,373 shares getting traded on Thursday. Post opening the session at $14.28, the shares hit an intraday low of $13.565 and an intraday high of $14.28 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

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.

Investors should note that on Aug 24, 2016, CBL & Associates Properties announced a cash dividend of $0.2650. The company’s management has announced Sep 28, 2016 as the ex-dividend date and fixed the record date on Sep 30, 2016. The payable date has been fixed on Oct 14, 2016.

Many Wall Street Analysts have commented on CBL & Associates Properties. Company shares were Reiterated by Barclays on Aug 30, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 14 from a previous price target of $12 .CBL & Associates Properties was Upgraded by Jefferies to ” Buy” on Aug 29, 2016. 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 .

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.

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