Fintel reports that Cetus Capital VI has filed a 13G/A form with the SEC disclosing ownership of 1.03MM shares of CBL& Associates Properties, Inc. - New (CBL). This represents 3.23% of the company.
In their previous filing dated February 8, 2022 they reported 1.30MM shares and 4.12% of the company, a decrease in shares of 20.96% and a decrease in total ownership of 0.89% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 41.61% Upside
As of January 30, 2023, the average one-year price target for CBL& Associates Properties, Inc. - is $37.74. The forecasts range from a low of $37.37 to a high of $38.85. The average price target represents an increase of 41.61% from its latest reported closing price of $26.65.
Fund Sentiment
There are 230 funds or institutions reporting positions in CBL& Associates Properties, Inc. -. This is an increase of 5 owner(s) or 2.22%.
Average portfolio weight of all funds dedicated to US:CBL is 0.3525%, an increase of 24.0147%. Total shares owned by institutions increased in the last three months by 0.93% to 27,251K shares.
What are large shareholders doing?
Canyon Capital Advisors holds 8,396,293 shares representing 26.38% ownership of the company. No change in the last quarter.
Oaktree Capital Management holds 3,983,966 shares representing 12.51% ownership of the company. No change in the last quarter.
Strategic Value Partners holds 3,243,989 shares representing 10.19% ownership of the company. No change in the last quarter.
Littlejohn & Co holds 2,258,328 shares representing 7.09% ownership of the company. In it's prior filing, the firm reported owning 2,773,872 shares, representing a decrease of 22.83%. The firm increased its portfolio allocation in CBL by 27.58% over the last quarter.
Antara Capital holds 1,003,241 shares representing 3.15% ownership of the company. In it's prior filing, the firm reported owning 1,145,788 shares, representing a decrease of 14.21%. The firm decreased its portfolio allocation in CBL by 40.69% over the last quarter.
CBL& Associates Properties, Inc. - Declares $0.25 Dividend
CBL& Associates Properties, Inc. - said on November 10, 2022 that its board of directors declared a regular quarterly dividend of $0.25 per share ($1.00 annualized). Shareholders of record as of November 30, 2022 received the payment on December 30, 2022. Previously, the company paid $0.25 per share.
At the current share price of $26.65 / share, the stock's dividend yield is 3.75%. Looking back five years and taking a sample every week, the average dividend yield has been 3.65%, the lowest has been 3.12%, and the highest has been 4.22%. The standard deviation of yields is 0.32 (n=26).
The current dividend yield is 0.32 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is -0.05. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
CBL& Associates Properties Background Information
(This description is provided by the company.)
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 105 properties totaling 64.6 million square feet across 25 states, including 64 high-quality enclosed, outlet and open-air retail centers and 7 properties managed for third parties. CBL seeks to continuously strengthen its company and portfolio through active management, aggressive leasing and profitable reinvestment in its properties.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
