CBL & Associates Properties Inc (NYSE:CBL) CEO, Stephen D. Lebovitz, has sold a total of 27,000 shares of the company’s common stock, according to a recent SEC filing. The sale, executed on March 13, totaled over $612,000, with the shares being sold at prices ranging from $22.50 to $22.80. The weighted average price per share was $22.6692.
The transaction has adjusted Lebovitz's direct holdings to 362,238 shares in the real estate investment trust. Additionally, the SEC filing disclosed indirect holdings by trusts, with Lebovitz disclaiming beneficial ownership of these securities, except to the extent of his pecuniary interest.
Investors often monitor insider transactions such as these for insights into the confidence levels of a company's executives and directors regarding the business's prospects. The sale by Lebovitz comes amid the broader market context, although the reasons for the sale were not disclosed in the filing.
CBL & Associates Properties Inc specializes in the ownership and management of shopping centers and malls across the United States. The company's shares are publicly traded on the New York Stock Exchange under the ticker symbol CBL.
InvestingPro Insights
Amidst the recent news of CBL & Associates Properties Inc's CEO selling a significant portion of his shares, investors might seek additional context from financial metrics and analyst expectations. According to InvestingPro, CBL is currently trading at a high earnings multiple, with a P/E ratio of 136.76. This could suggest that the market has high expectations for the company's future earnings, despite the company's stock price experiencing notable volatility.
On the upside, CBL has been profitable over the last twelve months, which may reassure investors about the company's ability to sustain its business operations. Additionally, the company pays a significant dividend to shareholders, boasting a dividend yield of 7.26%, which is particularly attractive for income-focused investors. The dividend growth over the last twelve months has been substantial at 60.0%, further underlining the company's commitment to returning value to shareholders.
InvestingPro Tips indicate that while CBL's stock price movements are quite volatile, analysts predict the company will be profitable this year. For investors looking for more comprehensive analyses, there are additional InvestingPro Tips available, providing deeper insights into CBL's financial health and market position. By using the coupon code PRONEWS24, interested readers can get an extra 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking access to these valuable tips.
With a market capitalization of $711.42 million and a fair value estimation by InvestingPro at $18.88, compared to the analyst targets of $34, investors are presented with differing perspectives on the company's valuation. The recent insider transaction could be one of many factors influencing an investor's decision, and the additional context provided by the InvestingPro metrics and tips can serve as a useful tool in assessing the potential risks and rewards associated with CBL.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.