Allianz Asset Management GmbH Has $479,000 Position in CBL & Associates Properties, Inc. (NYSE:CBL)

Allianz Asset Management GmbH lifted its position in shares of CBL & Associates Properties, Inc. (NYSE:CBL) by 56.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 460,796 shares of the real estate investment trust’s stock after buying an additional 166,861 shares during the period. Allianz Asset Management GmbH owned about 0.27% of CBL & Associates Properties worth $479,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. First Republic Investment Management Inc. boosted its position in shares of CBL & Associates Properties by 8.2% during the second quarter. First Republic Investment Management Inc. now owns 939,907 shares of the real estate investment trust’s stock worth $978,000 after buying an additional 71,389 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of CBL & Associates Properties by 92.0% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 209,479 shares of the real estate investment trust’s stock worth $218,000 after buying an additional 100,400 shares during the period. BNP Paribas Arbitrage SA boosted its position in shares of CBL & Associates Properties by 22.4% during the first quarter. BNP Paribas Arbitrage SA now owns 65,191 shares of the real estate investment trust’s stock worth $101,000 after buying an additional 11,948 shares during the period. Parsec Financial Management Inc. boosted its position in shares of CBL & Associates Properties by 14.2% during the second quarter. Parsec Financial Management Inc. now owns 120,730 shares of the real estate investment trust’s stock worth $126,000 after buying an additional 15,000 shares during the period. Finally, Evergreen Capital Management LLC acquired a new position in shares of CBL & Associates Properties during the first quarter worth about $30,000. 64.96% of the stock is owned by institutional investors.

CBL has been the subject of several recent research reports. BTIG Research raised CBL & Associates Properties from a “sell” rating to a “neutral” rating and set a $0.82 price objective for the company in a research report on Friday, May 31st. Zacks Investment Research raised CBL & Associates Properties from a “sell” rating to a “hold” rating in a research report on Friday, August 30th. Wells Fargo & Co reiterated a “sell” rating on shares of CBL & Associates Properties in a report on Wednesday, June 26th. Finally, ValuEngine upgraded CBL & Associates Properties from a “hold” rating to a “buy” rating in a report on Friday, September 6th. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $1.71.

NYSE:CBL opened at $1.38 on Friday. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 4.21. The stock’s 50 day moving average price is $0.93 and its two-hundred day moving average price is $1.22. The firm has a market capitalization of $283.63 million, a price-to-earnings ratio of 0.80, a P/E/G ratio of -0.26 and a beta of 1.54. CBL & Associates Properties, Inc. has a 12-month low of $0.77 and a 12-month high of $4.44.

CBL & Associates Properties (NYSE:CBL) last released its quarterly earnings data 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). The business had revenue of $193.38 million during the quarter, compared to the consensus estimate of $188.72 million. CBL & Associates Properties had a negative net margin of 14.76% and a negative return on equity of 10.14%. Equities research analysts expect that CBL & Associates Properties, Inc. will post 1.33 EPS for the current year.

CBL & Associates Properties Profile

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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