Today: Global X Management Co. LLC invests in CBL & Associates Properties Inc. (CBL) Shares

Today: Global X Management Co. LLC invests in CBL & Associates Properties Inc. (CBL) Shares

Global X Management Co. LLC increased its stake in shares of CBL & Associates Properties Inc. (NYSE:CBL) by 1.6% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 673,409 shares of the real estate investment trust’s stock after buying an additional 10,588 shares during the period. Global X Management Co. LLC owned approximately 0.39% of CBL & Associates Properties worth $8,175,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Bank of Hawaii boosted its position in shares of CBL & Associates Properties by 0.3% in the third quarter. Bank of Hawaii now owns 50,925 shares of the real estate investment trust’s stock worth $618,000 after buying an additional 130 shares during the last quarter. Sei Investments Co. boosted its position in shares of CBL & Associates Properties by 1.5% in the second quarter. Sei Investments Co. now owns 13,078 shares of the real estate investment trust’s stock worth $122,000 after buying an additional 197 shares during the last quarter. Gerstein Fisher boosted its position in shares of CBL & Associates Properties by 1.6% in the second quarter. Gerstein Fisher now owns 13,203 shares of the real estate investment trust’s stock worth $123,000 after buying an additional 209 shares during the last quarter. Hsbc Holdings PLC boosted its position in shares of CBL & Associates Properties by 0.9% in the second quarter. Hsbc Holdings PLC now owns 40,994 shares of the real estate investment trust’s stock worth $382,000 after buying an additional 369 shares during the last quarter. Finally, Springbok Capital Management LLC boosted its position in shares of CBL & Associates Properties by 8.7% in the first quarter. Springbok Capital Management LLC now owns 10,410 shares of the real estate investment trust’s stock worth $124,000 after buying an additional 830 shares during the last quarter. 95.95% of the stock is currently owned by institutional investors and hedge funds.

Shares of CBL & Associates Properties Inc. (NYSE:CBL) traded down 0.67% during midday trading on Monday, hitting $11.90. 439,351 shares of the company were exchanged. The firm’s 50 day moving average price is $11.49 and its 200 day moving average price is $11.43. The firm has a market capitalization of $2.03 billion, a price-to-earnings ratio of 56.67 and a beta of 1.30. CBL & Associates Properties Inc. has a one year low of $8.86 and a one year high of $14.30.

CBL & Associates Properties (NYSE:CBL) last released its quarterly earnings data on Thursday, October 27th. The real estate investment trust reported $0.57 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.57. CBL & Associates Properties had a net margin of 7.81% and a return on equity of 4.18%. The firm had revenue of $251.72 million for the quarter, compared to the consensus estimate of $252.31 million. During the same quarter in the prior year, the company posted $0.56 earnings per share. The business’s revenue was down 4.2% on a year-over-year basis. Analysts forecast that CBL & Associates Properties Inc. will post $2.38 EPS for the current fiscal year.

A number of brokerages have issued reports on CBL. TheStreet cut shares of CBL & Associates Properties from a “hold” rating to a “sell” rating in a research note on Friday, October 28th. Jefferies Group reiterated a “buy” rating on shares of CBL & Associates Properties in a report on Tuesday, September 13th. Barclays PLC increased their target price on shares of CBL & Associates Properties from $12.00 to $14.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 30th. BTIG Research initiated coverage on shares of CBL & Associates Properties in a report on Thursday, August 25th. They issued a “neutral” rating on the stock. Finally, Mizuho increased their target price on shares of CBL & Associates Properties from $13.00 to $14.00 and gave the stock a “neutral” rating in a report on Monday, August 15th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $13.63.

CBL & Associates Properties Company Profile

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