CBL & Associates Properties (CBL) : Founders Financial Securities reduced its stake in CBL & Associates Properties by 37.11% during the most recent quarter end. The investment management company now holds a total of 11,107 shares of CBL & Associates Properties which is valued at $132,173 after selling 6,554 shares in CBL & Associates Properties , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.CBL & Associates Properties makes up approximately 0.06% of Founders Financial Securities’s portfolio.
Other Hedge Funds, Including , Simplex Trading sold out all of its stake in CBL during the most recent quarter. The investment firm sold 7,186 shares of CBL which is valued $85,513.Independent Portfolio Consultants reduced its stake in CBL by selling 690 shares or 5.51% in the most recent quarter. The Hedge Fund company now holds 11,840 shares of CBL which is valued at $141,606. CBL & Associates Properties makes up approx 0.04% of Independent Portfolio Consultants’s portfolio.Bnp Paribas Arbitrage Sa boosted its stake in CBL in the latest quarter, The investment management firm added 3,557 additional shares and now holds a total of 17,348 shares of CBL & Associates Properties which is valued at $207,482. Washington Trust Bank added CBL to its portfolio by purchasing 73 company shares during the most recent quarter which is valued at $873.
CBL & Associates Properties opened for trading at $11.82 and hit $12.05 on the upside on Friday, eventually ending the session at $11.9, with a gain of 1.54% or 0.18 points. The heightened volatility saw the trading volume jump to 27,83,819 shares. Company has a market cap of $2,032 M.
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.
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.