CBL & Associates Properties Plans Quarterly Dividend of $0.23 (CBL)

CBL & Associates Properties (NYSE:CBL) declared a quarterly dividend on Friday, May 31st, Stock Ratings Network.com reports. Investors of record on Monday, July 1st will be given a dividend of $0.23 per share on Tuesday, July 16th. This represents a $0.92 dividend on an annualized basis and a yield of 4.00%.

A number of research firms have also recently commented on CBL. Analysts at Goldman Sachs upgraded shares of CBL & Associates Properties from a “neutral” rating to a “buy” rating in a research note to investors on Monday, May 6th. They now have a $27.00 price target on the stock, up previously from $23.00. Analysts at RBC Capital raised their price target on shares of CBL & Associates Properties from $26.00 to $29.00 in a research note to investors on Wednesday, May 1st. They now have an “outperform” rating on the stock.

One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $24.70.

CBL & Associates Properties (NYSE: CBL) traded down 2.71% on Friday, hitting $22.99. CBL & Associates Properties has a 52-week low of $16.74 and a 52-week high of $26.95. The stock’s 50-day moving average is currently $24.62. The company has a market cap of $3.783 billion and a price-to-earnings ratio of 42.58.

CBL & Associates Properties (NYSE: CBL) last announced its earnings results on Monday, April 29th. The company reported $0.53 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.51 by $0.02. The company had revenue of $266.00 million for the quarter, compared to the consensus estimate of $260.24 million. During the same quarter last year, the company posted $0.49 earnings per share. CBL & Associates Properties’s revenue was up 7.9% compared to the same quarter last year. CBL & Associates Properties has set its FY13 guidance at $2.18-2.26 EPS. On average, analysts predict that CBL & Associates Properties will post $2.23 earnings per share for the current fiscal year.

CBL & Associates Properties, Inc. (NYSE: CBL) is a self-managed, self-administered real estate investment trust (REIT).

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