American Assets Inc adds CBL & Associates Properties (CBL) to its portfolio

CBL & Associates Properties (CBL) : American Assets Inc added new position in CBL & Associates Properties during the most recent quarter end. The investment management firm now holds 10,000 shares of CBL & Associates Properties which is valued at $117,800 , the company said in a statement filed on Aug 1, 2016 with the SEC.CBL & Associates Properties makes up approximately 0.04% of American Assets Inc’s portfolio.

Other Hedge Funds, Including , Bank Of Hawaii reduced its stake in CBL by selling 600 shares or 1.17% in the most recent quarter. The Hedge Fund company now holds 50,795 shares of CBL which is valued at $598,365. CBL & Associates Properties makes up approx 0.06% of Bank Of Hawaii’s portfolio.Public Employees Retirement Association Of Colorado reduced its stake in CBL by selling 10,973 shares or 24.17% in the most recent quarter. The Hedge Fund company now holds 34,430 shares of CBL which is valued at $423,145.Strs Ohio boosted its stake in CBL in the latest quarter, The investment management firm added 49,737 additional shares and now holds a total of 311,001 shares of CBL & Associates Properties which is valued at $3,383,691. CBL & Associates Properties makes up approx 0.01% of Strs Ohio’s portfolio. Financial Architects Inc added CBL to its portfolio by purchasing 178 company shares during the most recent quarter which is valued at $1,937.James Investment Research Inc reduced its stake in CBL by selling 29,750 shares or 93.73% in the most recent quarter. The Hedge Fund company now holds 1,990 shares of CBL which is valued at $22,009.

CBL & Associates Properties opened for trading at $11.83 and hit $12.125 on the upside on Thursday, eventually ending the session at $12.04, with a gain of 2.21% or 0.26 points. The heightened volatility saw the trading volume jump to 21,12,732 shares. Company has a market cap of $2,056 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. KeyBanc Capital Mkts Upgraded CBL & Associates Properties on Jul 15, 2016 to ” Overweight”, Price Target of the shares are set at $15.Shares were Reiterated by Mizuho on May 26, 2016 to “Neutral” and Lowered the Price Target to $ 10.50 from a previous price target of $12 .

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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