Greenwich Investment Management Inc. Boosts Stock Position in CBL & Associates Properties, Inc. (NYSE:CBL)

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Greenwich Investment Management Inc. increased its stake in CBL & Associates Properties, Inc. (NYSE:CBL) by 7.8% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 892,941 shares of the real estate investment trust’s stock after buying an additional 64,650 shares during the period. CBL & Associates Properties accounts for about 0.9% of Greenwich Investment Management Inc.’s holdings, making the stock its 27th largest holding. Greenwich Investment Management Inc. owned 0.51% of CBL & Associates Properties worth $929,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Geode Capital Management LLC boosted its holdings in CBL & Associates Properties by 7.2% during the 4th 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 during the period. Principal Financial Group Inc. boosted its holdings in CBL & Associates Properties by 0.4% during the 4th quarter. Principal Financial Group Inc. now owns 1,422,183 shares of the real estate investment trust’s stock valued at $2,731,000 after acquiring an additional 6,330 shares during the period. D. E. Shaw & Co. Inc. boosted its holdings in CBL & Associates Properties by 243.7% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 109,289 shares of the real estate investment trust’s stock valued at $210,000 after acquiring an additional 77,489 shares during the period. Metropolitan Life Insurance Co. NY boosted its holdings in CBL & Associates Properties by 201.5% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 65,145 shares of the real estate investment trust’s stock valued at $125,000 after acquiring an additional 43,536 shares during the period. Finally, Municipal Employees Retirement System of Michigan purchased a new stake in CBL & Associates Properties during the 4th quarter valued at about $93,000. Institutional investors own 76.22% of the company’s stock.

Shares of NYSE:CBL opened at $0.89 on Wednesday. CBL & Associates Properties, Inc. has a 52-week low of $0.77 and a 52-week high of $4.71. The company has a market cap of $157.28 million, a price-to-earnings ratio of 0.51, a P/E/G ratio of -0.22 and a beta of 1.52. The stock has a 50 day moving average price of $1.01. The company has a debt-to-equity ratio of 4.07, a current ratio of 0.38 and a quick ratio of 0.36.

CBL & Associates Properties (NYSE:CBL) last announced its earnings results on Wednesday, July 31st. The real estate investment trust reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.55). CBL & Associates Properties had a negative return on equity of 10.14% and a negative net margin of 14.76%. The firm had revenue of $193.38 million during the quarter, compared to the consensus estimate of $188.72 million. On average, analysts forecast that CBL & Associates Properties, Inc. will post 1.33 earnings per share for the current fiscal year.

CBL has been the subject of several analyst reports. ValuEngine upgraded CBL & Associates Properties from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Barclays reaffirmed a “hold” rating and set a $2.00 price target on shares of CBL & Associates Properties in a research report on Tuesday, April 16th. Wells Fargo & Co reaffirmed a “sell” rating on shares of CBL & Associates Properties in a research report on Wednesday, June 26th. BTIG Research raised CBL & Associates Properties from a “sell” rating to a “neutral” rating and set a $0.82 price target for the company in a research report on Friday, May 31st. Finally, Zacks Investment Research lowered CBL & Associates Properties from a “hold” rating to a “sell” rating in a research report on Wednesday, June 12th. Five research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The stock currently has an average rating of “Sell” and a consensus target price of $1.71.

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 71.1 million square feet across 26 states, including 71 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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