On March 7, 2023, at 13:27:18 ET an unusually large $116.29K block of Call contracts in CBL & Associates Properties, Inc. – (CBL) was sold, with a strike price of $30.00 / share, expiring in 227 days (on October 20, 2023). Fintel tracks all large options trades and the premium spent on this trade was 5.49 sigmas above the mean, placing it in the 100.00 percentile of all recent large trades made in CBL options.

This trade was first picked up on Fintel’s real-time Options Flow tool, where all large block option trades are tracked.

Analyst Price Forecast Suggests 40.04% Upside

As of March 4, 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 40.04% from its latest reported closing price of $26.95.

What is the Fund Sentiment?

There are 232 funds or institutions reporting positions in CBL & Associates Properties, Inc. -. This is an increase of 4 owner(s) or 1.75% in the last quarter. Average portfolio weight of all funds dedicated to CBL is 0.36%, a decrease of 1.02%. Total shares owned by institutions decreased in the last three months by 2.32% to 26,577K shares. The put/call ratio of CBL is 0.55, indicating a bullish outlook.

What are large shareholders doing?

Canyon Capital Advisors holds 8,396K shares representing 26.19% ownership of the company. No change in the last quarter.

Oaktree Capital Management holds 3,984K shares representing 12.43% ownership of the company. No change in the last quarter.

Strategic Value Partners holds 3,199K shares representing 9.98% ownership of the company. In its prior filing, the firm reported owning 3,244K shares, representing a decrease of 1.39%. The firm decreased its portfolio allocation in CBL by 99.91% over the last quarter.

Littlejohn & Co holds 2,045K shares representing 6.38% ownership of the company. In its prior filing, the firm reported owning 2,258K shares, representing a decrease of 10.41%. The firm decreased its portfolio allocation in CBL by 5.99% over the last quarter.

Antara Capital holds 848K shares representing 2.65% ownership of the company. In its prior filing, the firm reported owning 1,003K shares, representing a decrease of 18.27%. The firm decreased its portfolio allocation in CBL by 99.85% over the last quarter.

CBL & Associates Properties, Inc. – Declares $0.38 Dividend

On February 16, 2023, the company declared a regular quarterly dividend of $0.38 per share ($1.50 annualized). Shareholders of record as of March 15, 2023, will receive the payment on March 31, 2023. Previously, the company paid $0.25 per share.

At the current share price of $26.95 / share, the stock’s dividend yield is 5.57%. Looking back five years and taking a sample every week, the average dividend yield has been 3.80%, the lowest has been 3.12%, and the highest has been 5.88%. The standard deviation of yields is 0.61 (n=30).

The current dividend yield is 2.92 standard deviations above the historical average.

Additionally, the company’s dividend payout ratio is -0.51. 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 article originally appeared on Fintel

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