Fin Stocks Broker Alerts! CBL & Associates Properties, Inc. (CBL), Brixmor Property Group Inc (BRX)
Shares of CBL & Associates Properties, Inc. (NYSE:CBL) ended Friday session in green amid volatile trading. The shares closed up +0.19 points or 1.62% at $11.90. Post opening the session at $11.82, the shares hit an intraday low of $11.82 and an intraday high of $12.05 and the price vacillated in this range throughout the day. The company has a market cap of $2.07 billion and the numbers of outstanding shares have been calculated to be 170.79 million shares.
CBL & Associates Properties, Inc. (CBL) announced that it closed on the assignment of 100% of the partnership ownership interest in High Pointe Commons in Harrisburg, PA to Unison Realty Partners. High Pointe Commons is a 355,000-square-foot community center anchored by Target and JCPenney. The partnership received total consideration of $33.8 million. Proceeds from the transaction were used to retire existing secured loans aggregating $17.4 million with CBL’s share of net proceeds used to reduce outstanding balances on the Company’s lines of credit.
“This transaction is the latest example of our ability to raise attractively priced capital through dispositions of high-quality community centers,” said Stephen D. Lebovitz, president & CEO. “The excess proceeds from these asset sales furthers our progress reducing leverage, improving our credit metrics and strengthening our balance sheet.”
Shares of Brixmor Property Group Inc (NYSE:BRX) ended Friday session in red amid volatile trading. The shares closed down -0.16 points or -0.61% at $26.02. Post opening the session at $26.29, the shares hit an intraday low of $25.87 and an intraday high of $26.61 and the price vacillated in this range throughout the day. The company has a market cap of $7.88 billion and the numbers of outstanding shares have been calculated to be 301.10 million shares.
Brixmor Property Group Inc (BRX) announced that it will release its 2016 third quarter earnings on Monday, October 24, 2016 after the market close. Brixmor will host a teleconference on Tuesday, October 25, 2016 at 10:00 AM ET.
Event: Brixmor Property Group’s Third Quarter Earnings Results
When: 10:00 AM ET, Tuesday, October 25, 2016
Live Webcast: Brixmor 3Q16 Earnings Call under the Investors tab at www.brixmor.com
Dial #: 888.317.6003 (International:412.317.6061); Passcode: 2633815
A replay of the webcast will be available on the Brixmor website at www.brixmor.com. A replay of the call can be accessed until midnight ET on Wednesday, November 9, 2016 by dialing 877.344.7529 (International:412.317.0088); Passcode: 10091678.