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CBL & Associates Properties, Inc. - CBL STOCK NEWS

Welcome to our dedicated page for CBL & Associates Properties news (Ticker: CBL), a resource for investors and traders seeking the latest updates and insights on CBL & Associates Properties stock.

CBL & Associates Properties, Inc. (symbol: CBL) is one of the largest and most active owners and developers of malls and shopping centers in the United States. Headquartered in Chattanooga, TN, with regional offices in Boston (Waltham), MA, Dallas (Irving), TX, and St. Louis, MO, CBL operates a vast portfolio spanning 30 states.

CBL owns, holds interests in, or manages 148 properties, including 89 regional malls and open-air centers. These properties total approximately 84.2 million square feet, with 6.5 million square feet managed for third parties. The company's core business involves the ownership, development, acquisition, leasing, management, and operation of various shopping centers, including regional malls, outlet centers, lifestyle centers, and open-air centers.

CBL's primary revenue streams come from leasing arrangements with retail tenants, management and development fees, and sales of real estate assets. The company continually enhances its portfolio through redevelopment, renovation, and expansion projects, ensuring their properties remain attractive and profitable.

With its extensive network and strategic locations, CBL plays a significant role in the retail real estate market. The company is committed to driving growth and value for its shareholders through innovative development projects and effective management practices.

Additional information about CBL & Associates Properties, Inc. can be found at cblproperties.com.

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Today, CBL Properties announced the addition of several new stores at Mayfaire Town Center in Wilmington, NC. Key additions include Free People and FP Movement, each occupying around 2,300 square feet on Main Street. Reeds Jewelers will also open a flagship store featuring Rolex and David Yurman outlets in a 9,000-square-foot space. Additionally, lululemon will relocate to a 5,200-square-foot space. Rack Room Shoes has already relocated to a 4,000-square-foot space on Monument Drive. Claire’s will open in June in a new 1,400-square-foot location. New dining options at Mayfaire Community Center include Vochos Urban Mexican Kitchen, Potbelly Sandwich Shop, and a reopened Chick-fil-A this summer.

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CBL Properties reported a 3.6% increase in same-center NOI for the first quarter of 2024 compared to the prior year. FFO, as adjusted, per share was $1.50, slightly down from $1.56 in the first quarter of 2023. The company executed over 1.1 million square feet of leases, including a 10.2% increase in average rents for new leases. Portfolio occupancy was 89.4% as of March 31, 2024. Same-center tenant sales per square foot increased 0.2% for the quarter, but declined by 3.7% for the 12-month period ending March 31, 2024. The company had $295.3 million in unrestricted cash and marketable securities as of March 31, 2024.

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CBL Properties, listed on NYSE under the symbol CBL, has declared a cash dividend of $0.40 per common share for the second quarter of 2024, amounting to an annual dividend of $1.60 per common share. The dividend will be paid on June 28, 2024, to shareholders of record as of June 13, 2024.

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CBL Properties (NYSE:CBL) partners with MINISO to expand its presence in the United States by opening stores in twelve new markets. The collaboration aims to enhance the shopping experience at CBL properties and attract a diverse customer base.
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CBL Properties partners with Adeptmind to launch 'Inventory Insider' at two Tennessee properties, enabling online access to in-stock products on mall websites. This partnership aims to enhance the shopping experience by providing centralized product research for customers.
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CBL Properties (NYSE: CBL) reported Q4 and full-year 2023 results, highlighting a rise in FFO, as adjusted, per share, but a decline in same-center NOI. The company initiated 2024 guidance with FFO per share in the range of $6.19 - $6.63 and same-center NOI guidance of $428 million - $442 million.
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CBL Properties (NYSE:CBL) has declared a cash dividend of $0.40 per common share for the quarter ending March 31, 2024, representing a 6.7% increase from the previous quarterly dividend rate. This equates to an annual dividend payment of $1.60 per common share. The dividend is payable on March 29, 2024, to shareholders of record as of March 15, 2024. The company's CEO, Stephen D. Lebovitz, highlighted the strong operating performance in 2023, which generated substantial free cash flow, enabling the Company to strengthen its cash position.
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CBL Properties (NYSE:CBL) has announced tax reporting information for the 2023 distributions on its Common stock, with a total distribution of $1.50 per share. The company disclosed the breakdown of Ordinary Taxable Dividends, Qualified Dividends, Capital Gain Distribution, Non-Dividend Distribution, and Section 199A Dividends. The distributions are payable on specific dates throughout the year, with a 20% deduction for REIT dividends under Section 199A. Additionally, the company provided supplementary information for non-U.S. shareholders regarding Section 897 Ordinary Dividends and Capital Gain.
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CBL Properties (NYSE:CBL) has welcomed numerous new retail, service, entertainment, and restaurant concepts to its portfolio with more openings planned for 2024 and beyond. The company's CEO, Stephen Lebovitz, highlighted the success of diversifying offerings and strong leasing activity. New additions include entertainment venues, restaurants, and retail stores across various properties. Deals executed year-to-date include fitness centers, entertainment concepts, hotels, restaurants, medical uses, and other non-retail tenants. Expected 2024 openings signal a busy year ahead.
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CBL Properties (NYSE: CBL) reported strong third-quarter results, with same-center NOI increasing 0.4% and portfolio occupancy rising to 90.8%. FFO, as adjusted, per share was $1.60 for the quarter, in line with expectations. The company anticipates achieving full-year results near the mid-point of its guidance range.
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FAQ

What is CBL & Associates Properties, Inc.?

CBL & Associates Properties, Inc. (CBL) is a U.S.-based real estate investment trust that owns, develops, acquires, leases, manages, and operates regional shopping malls, outlet centers, lifestyle centers, open-air centers, and other properties.

Where is CBL headquartered?

CBL is headquartered in Chattanooga, TN, with regional offices in Boston (Waltham), MA, Dallas (Irving), TX, and St. Louis, MO.

How many properties does CBL manage?

CBL manages 148 properties, including 89 regional malls and open-air centers, totaling approximately 84.2 million square feet.

What are the primary revenue sources for CBL?

CBL's primary revenue sources are leasing arrangements with retail tenants, management and development fees, and sales of real estate assets.

How does CBL expand its portfolio?

CBL expands its portfolio through redevelopment, renovation, and expansion projects.

What types of properties does CBL own and manage?

CBL owns and manages regional shopping malls, outlet centers, lifestyle centers, open-air centers, and other properties.

How can I learn more about CBL?

Additional information about CBL & Associates Properties, Inc. can be found at their official website, cblproperties.com.

In which states does CBL have properties?

CBL has properties in 30 states across the United States.

What is CBL's role in the retail real estate market?

CBL is a significant player in the retail real estate market, known for its extensive network and strategic locations.

What is CBL's strategy for growth?

CBL focuses on driving growth and value through innovative development projects and effective management practices.

CBL & Associates Properties, Inc.

NYSE:CBL

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822.95M
31.87M
10.04%
82.19%
5.06%
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