CBL& Associates Properties, Inc. [CBL] Revenue clocked in at $535.29 million, down -6.18% YTD: What’s Next?

CBL& Associates Properties, Inc. [NYSE: CBL] price surged by 1.06 percent to reach at $0.24. The company report on March 21, 2024 at 10:00 AM that CBL Properties and MINISO Partner to Expand Its U.S. Presence to Thirteen CBL Malls.

Today CBL Properties (NYSE:CBL) announced it has executed multiple deals with global lifestyle retailer MINISO, expanding the brand’s presence to a dozen new markets in the United States. The first wave of store openings started in November 2023 at Valley View Mall in Roanoke, Virginia, and Hanes Mall in Winston-Salem, North Carolina, followed by the January 2024 opening at Coastal Grand Mall in Myrtle Beach, South Carolina. Throughout the rest of 2024, stores will open at CoolSprings Galleria (Nashville, TN), Hamilton Place (Chattanooga, TN), West County Center and South County Center (St. Louis, MO), Parkway Place (Huntsville, AL), Post Oak Mall (Waco, TX), Fayette Mall (Lexington, KY), Westmoreland Mall (Greensburg, PA), Oak Park Mall (Overland Park, KS), and Kirkwood Mall (Bismarck, ND).

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“We are thrilled to work with MINISO to add to their U.S. store fleet at CBL properties across the south, east coast, and Midwest,” said Stephen Lebovitz, chief executive officer, CBL Properties. “MINISO is an innovative retailer catering to a generation of customers who over the last few years have shown a preference for shopping at malls. These stores are becoming a destination for visitors to our properties and complement the dynamic mix of retailers, restaurants, and entertainment they already offer.”.

The one-year CBL stock forecast points to a potential upside of 32.62. The average equity rating for CBL stock is currently 1.00, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on CBL& Associates Properties, Inc. [CBL]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CBL shares is $34.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CBL stock is a recommendation set at 1.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

The Average True Range (ATR) for CBL& Associates Properties, Inc. is set at 0.49, with the Price to Sales ratio for CBL stock in the period of the last 12 months amounting to 1.38. The Price to Book ratio for the last quarter was 2.16, with the Price to Cash per share for the same quarter was set at 3.81. Price to Free Cash Flow for CBL in the course of the last twelve months was 3.92.

CBL Stock Performance Analysis:

CBL& Associates Properties, Inc. [CBL] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.00. With this latest performance, CBL shares dropped by -2.39% in over the last four-week period, additionally plugging by 10.04% over the last 6 months – not to mention a drop of -8.03% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CBL stock in for the last two-week period is set at 50.90, with the RSI for the last a single of trading hit 55.48, and the three-weeks RSI is set at 48.94 for CBL& Associates Properties, Inc. [CBL]. The present Moving Average for the last 50 days of trading for this stock 23.30, while it was recorded at 22.46 for the last single week of trading, and 22.55 for the last 200 days.

CBL& Associates Properties, Inc. [CBL] Institutonal Ownership Details

The top three institutional holders of CBL stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in CBL stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in CBL stock with ownership which is approximately 5.8325%.