Jefferies Upgrades CBL & Associates Properties to Buy with Price Target $16.00

Brokerage firm Jefferies Upgrades its rating on CBL & Associates Properties(NYSE:CBL). In a research note issued to the investors, the brokerage major Raises the price-target to $16.00 per share. The shares have been rated Buy. Previously, the analysts had a Hold rating on the shares. The rating by Jefferies was issued on Aug 29, 2016.

In a different note, On Aug 30, 2016, Barclays said it Maintains its rating on CBL & Associates Properties. In the research note, the firm Raises the price-target to $12.00 per share. The shares have been rated ‘Equal-weight’ by the firm. BTIG Research said it Initiates Coverage on CBL & Associates Properties, according to a research note issued on Aug 25, 2016. The shares have been rated ‘Neutral’ by the firm. On Aug 5, 2016, Citigroup said it Maintains its rating on CBL & Associates Properties. In the research note, the firm Raises the price-target to $11.00 per share. The shares have been rated ‘Neutral’ by the firm. On Jul 15, 2016, KeyBanc said it Upgrades its rating on CBL & Associates Properties. The shares have been rated ‘Overweigt’ by the firm. On Jul 7, 2016, Citigroup said it Maintains its rating on CBL & Associates Properties. In the research note, the firm Lowers the price-target to $12.00 per share. The shares have been rated ‘Neutral’ by the firm. On Jun 2, 2016, Goldman Sachs said it Maintains its rating on CBL & Associates Properties. In the research note, the firm Lowers the price-target to $12.00 per share. The shares have been rated ‘Neutral’ by the firm.

CBL & Associates Properties (CBL) shares turned negative on Thursdays trading session with the shares closing down -0.67 points or -4.70% at a volume of 57,39,373. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $14.28. The peak price level was also seen at $14.28 while the days lowest was $13.565. Finally the shares closed at $13.6. The 52-week high of the shares is $15.59 while the 52-week low is $8.86. According to the latest information available, the market cap of the company is $2,323 M.

CBL & Associates Properties has also declared a cash dividend of $0.2650 on Aug 24, 2016. The shares will quote ex-dividend on Sep 28, 2016 and the record date has been fixed on Sep 30, 2016. The dividend payable date has been fixed on Oct 14, 2016.

CBL & Associates Properties(CBL) last announced its earnings results on Jul 28, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $254.97M. Analysts had an estimated revenue of $246.78M. Earnings per share were $0.59. Analysts had estimated an EPS of $0.56.

Several Insider Transactions has been reported to the SEC. On Nov 12, 2015, Farzana K Mitchell (CFO) purchased 825 shares at $13.30 per share price.Also, On Sep 23, 2015, Matthew Dominski (director) purchased 5,000 shares at $25.22 per share price.

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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