This stock plummeted after the company cut their dividend and then lost their investment grade credit rating. Preferred shares for it dropped significantly with the common stock. It is now in the strong buy range, but speculative.
CBL Properties (CBL) is in a tricky situation. I have a speculative buy rating on their D-series of preferred stock. Investors may recall that I suggested investors look to harvest their gains a while back. When CBL reported earnings and took a dive, I opted not to lower the price target on CBL-D much despite correlation risk. It was a reasonable decision, but in hindsight, I’m not happy with the choice.
Source: Seeking Alpha
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Posted by D4L | Wednesday, December 13, 2017 | ArticleLinks | 0 comments »________________________________________________________________
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