Wells Fargo & Co Reaffirms Sell Rating for CBL & Associates Properties (CBL)

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CBL & Associates Properties (NYSE:CBL)‘s stock had its “sell” rating reaffirmed by equities researchers at Wells Fargo & Co in a research note issued to investors on Tuesday.

A number of other research firms also recently commented on CBL. ValuEngine upgraded CBL & Associates Properties from a “strong sell” rating to a “sell” rating in a research report on Tuesday, October 30th. Zacks Investment Research cut shares of CBL & Associates Properties from a “hold” rating to a “sell” rating in a research report on Tuesday, October 30th. Morgan Stanley set a $2.00 target price on shares of CBL & Associates Properties and gave the stock a “sell” rating in a report on Tuesday, November 27th. Mizuho set a $2.00 price target on CBL & Associates Properties and gave the company a “sell” rating in a research report on Sunday, December 16th. Finally, JPMorgan Chase & Co. downgraded CBL & Associates Properties from a “neutral” rating to an “underweight” rating in a research report on Wednesday, December 19th. Nine research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. CBL & Associates Properties currently has an average rating of “Sell” and a consensus target price of $3.54.

Shares of NYSE:CBL opened at $2.26 on Tuesday. CBL & Associates Properties has a 12-month low of $1.79 and a 12-month high of $6.26. The company has a debt-to-equity ratio of 3.92, a quick ratio of 0.46 and a current ratio of 0.51. The firm has a market cap of $386.78 million, a price-to-earnings ratio of 1.31, a PEG ratio of -0.54 and a beta of 1.53.

CBL & Associates Properties (NYSE:CBL) last posted its earnings results on Thursday, February 7th. The real estate investment trust reported $0.45 EPS for the quarter, meeting analysts’ consensus estimates of $0.45. CBL & Associates Properties had a negative return on equity of 6.84% and a negative net margin of 9.33%. The firm had revenue of $216.90 million during the quarter, compared to the consensus estimate of $216.50 million. During the same period in the prior year, the company earned $0.56 EPS. The company’s quarterly revenue was down 7.8% compared to the same quarter last year. On average, sell-side analysts forecast that CBL & Associates Properties will post 1.45 earnings per share for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its holdings in shares of CBL & Associates Properties by 7.2% in the fourth quarter. Geode Capital Management LLC now owns 2,290,809 shares of the real estate investment trust’s stock valued at $4,397,000 after acquiring an additional 154,764 shares in the last quarter. Commonwealth Bank of Australia raised its holdings in CBL & Associates Properties by 206.0% in the 4th quarter. Commonwealth Bank of Australia now owns 172,300 shares of the real estate investment trust’s stock valued at $330,000 after acquiring an additional 116,000 shares during the period. Hsbc Holdings PLC boosted its holdings in CBL & Associates Properties by 80.6% during the fourth quarter. Hsbc Holdings PLC now owns 101,549 shares of the real estate investment trust’s stock worth $195,000 after purchasing an additional 45,314 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of CBL & Associates Properties by 974.5% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 125,175 shares of the real estate investment trust’s stock worth $240,000 after acquiring an additional 113,525 shares in the last quarter. Finally, Great West Life Assurance Co. Can lifted its stake in CBL & Associates Properties by 1.5% in the fourth quarter. Great West Life Assurance Co. Can now owns 340,149 shares of the real estate investment trust’s stock worth $598,000 after acquiring an additional 5,075 shares during the period. Institutional investors and hedge funds own 77.41% of the company’s stock.

About CBL & Associates Properties

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 114 properties totaling 71.9 million square feet across 26 states, including 73 high-quality enclosed, outlet and open-air retail centers and 12 properties managed for third parties.

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