Welcome to our dedicated page for Cbl & Assoc Pptys news (Ticker: CBL), a resource for investors and traders seeking the latest updates and insights on Cbl & Assoc Pptys stock.
CBL & Associates Properties Inc (NYSE: CBL) is a leading retail-focused REIT managing a national portfolio of shopping centers and mixed-use properties. This news hub provides investors and industry professionals with timely updates on corporate developments, financial disclosures, and strategic initiatives shaping the commercial real estate sector.
Access authoritative coverage of CBL's quarterly earnings reports, property acquisitions, tenant lease agreements, and redevelopment projects. Our curated news collection simplifies tracking operational milestones across CBL's 50+ properties, including regional malls, outlet centers, and lifestyle destinations.
Key updates include earnings call analyses, sustainability initiatives, leadership changes, and partnership announcements. Bookmark this page for direct access to SEC filings, investor presentations, and market commentary relevant to CBL's position in the evolving retail real estate landscape.
CBL Properties (NYSE: CBL) has declared a quarterly dividend of $0.25 per common share for Q3 2022, which is payable in cash on September 30, 2022. The annualized dividend totals $1.00 per share. Additionally, the company plans to issue a special one-time dividend ranging from $75 million to $100 million based on revised taxable income projections by the end of 2022. The exact amount will be determined by the board and could be distributed as cash or a mix of cash and stock.
CBL Properties (NYSE: CBL) has appointed Jeff Kivitz to its board of directors, along with his roles in the compensation and nominating/corporate governance committees. CEO Stephen D. Lebovitz highlighted Kivitz's significant experience, especially through his role at Canyon Partners, CBL's primary shareholder. Kivitz, a Partner at Canyon Partners, previously worked at Bain & Company, advising on buyouts and corporate strategy. CBL owns a diverse portfolio of 95 retail properties across 24 states, encompassing 59.6 million square feet.
CBL Properties (NYSE: CBL) declared a quarterly cash dividend of $0.25 per share, payable on July 20, 2022, with a record date of July 11, 2022, marking a significant milestone in returning value to shareholders. This annualizes to $1.00 per share. The company boasts a cash position exceeding $335 million as of March 31, enhancing its financial stability. Additionally, CBL anticipates regular dividends for upcoming quarters and a special dividend in the range of $75 million to $125 million based on year-end taxable income projections.
CBL Properties (NYSE: CBL) has partnered with the Tennessee, Mississippi, and Alabama chapter of Susan G. Komen to host the MORE THAN PINK walk at Hamilton Place in Chattanooga on Oct. 1 and at CoolSprings Galleria in Nashville on Oct. 15. This event aims to honor and support those affected by breast cancer.
Mary Lynn Morse from CBL expressed excitement for the partnership, while Tim Newman from Komen emphasized the events' community-building impact. These walks will be preceded by The Power of ONE Week, celebrating those impacted by breast cancer.
CBL Properties has successfully redeemed $335.0 million of its 10% Senior Secured Notes due 2029, using proceeds from a new $360.0 million non-recourse loan. This move simplifies the company’s balance sheet and lowers interest expenses. The new loan is secured by a pool of 90 outparcels and 13 open-air centers, with an average interest rate estimated between 6.75% - 6.95% for the first three years. CBL reports a share of unencumbered net operating income (NOI) estimated at $75 million, reflecting the operational strength of its assets.
CBL Properties announces the availability of its latest investor presentation on its website. The presentation can be located in the Investor Relations section at cblproperties.com. CBL Properties, headquartered in Chattanooga, TN, manages a portfolio of 95 properties spanning 24 states, totaling 59.6 million square feet. This includes high-quality enclosed malls, outlet centers, and lifestyle retail centers. CBL aims to enhance its portfolio through active management and profitable reinvestment.
CBL Properties has announced the redemption of $335 million in outstanding 10% Senior Secured Notes, funded by a new $360 million non-recourse loan. This strategic move eliminates the corporate guaranty and enhances free cash flow by reducing interest expenses. CBL's CEO, Stephen Lebovitz, highlighted the increased financial flexibility and over $75 million in estimated unencumbered net operating income (NOI). The loan will be secured by 91 outparcels and 13 open-air centers in its portfolio, with closing expected around June 7, 2022.
CBL Properties (NYSE: CBL) announced a partial redemption of $60 million of its 10% Senior Secured Notes, utilizing proceeds from a new $65 million non-recourse loan. The loan features a 10-year term, fixed interest rate of 5.85%, and is secured by a joint venture of open-air centers in Chattanooga, TN. Following the redemption, $335 million of the 10% Notes remains outstanding. CEO Stephen Lebovitz expressed optimism about the ongoing redemption efforts, aiming to clear the remaining notes in the near future.
CBL Properties reported its Q1 2022 results showing a net loss attributable to common shareholders of $40.7 million, compared to a loss of $26.8 million in Q1 2021. Funds from Operations (FFO), as adjusted, declined to $57.5 million from $68.7 million. The same-center Net Operating Income (NOI) increased by 10.7%, driven by higher percentage rents and operating expense controls. Portfolio occupancy improved to 88.3%, reflecting a 290-basis point increase year-over-year. The company updated its full-year guidance for same-center NOI to $416 - $430 million, and FFO per share to $7.18 - $7.67.
FAQ
What is the current stock price of Cbl & Assoc Pptys (CBL)?
What is the market cap of Cbl & Assoc Pptys (CBL)?
