Cbl & Assoc Pptys Inc Stock Price, News & Analysis

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.

CBL Properties (NYSE:CBL) announces the reappointment of Jon Meshel as senior vice president – redevelopment, after three years at Centennial. Meshel brings extensive experience, having previously led over 20 anchor box projects at CBL, contributing to more than 3.5 million square feet of retail transactions between 2013-2019. His role focuses on mixed-use redevelopment, enhancing CBL’s portfolio in dynamic communities. The company, headquartered in Chattanooga, TN, manages 95 properties totaling 59.6 million square feet across 24 states.

CBL Properties (NYSE: CBL) has secured a new $40.0 million non-recourse loan with a 5.4% fixed interest rate, aimed at refinancing a previous $33.9 million loan due in October. This financing, managed in partnership with a joint venture, enhances the financial flexibility of CBL's balance sheet, following the opening of The Shoppes at Eagle Point in Cookeville, TN in 2018. CEO Stephen Lebovitz emphasized the benefits of this long-term capital structure improvement.

CBL Properties (NYSE: CBL) has announced a term sheet for a new $65.0 million non-recourse loan aimed at strengthening its balance sheet. The company plans to use part of the loan proceeds for a partial redemption of its 10% Senior Secured Notes, reducing outstanding notes to $335.0 million. The new loan is expected to have a ten-year term with a fixed interest rate of 5.5% - 5.75%. The transaction is anticipated to close around May 25, 2022.

CBL Properties (NYSE: CBL) reported its Q4 and full-year 2021 results, indicating a strong recovery with improved operational metrics. For Q4, net loss attributable to common shareholders was $544.8 million, compared to $63 million in 2020. Funds from Operations (FFO), as adjusted, rose to $106.3 million from $75.3 million year-over-year. Occupancy increased to 89.3%, and same-center Net Operating Income (NOI) grew by 5.3%. CBL ended 2021 with $319.5 million in unrestricted cash. The 2022 guidance projects FFO, as adjusted, between $216.5 million and $231.8 million, reflecting potential headwinds from the economy.

CBL Properties (NYSE: CBL) announced the extension and modification of a $134.1 million non-recourse loan secured by Fayette Mall in Lexington, KY. The loan’s maturity has been extended by two years, with three additional one-year options. Interest rates were reduced from 5.42% to 4.25%. The modification also released two ground leased outparcels in exchange for a redeveloped anchor location. CEO Stephen D. Lebovitz highlighted the loan's favorable terms as a sign of confidence from the financial community.

CBL Properties announced the successful exchange of $150 million in 7% Exchangeable Secured Notes due 2028 through its subsidiary CBL & Associates Holdco II, LLC. This strategic move reduced interest costs and converted debt to equity within 90 days of the company's emergence. On February 1, 2022, CBL issued 10,982,795 shares of common stock to satisfy the Exchangeable Notes, which are now canceled. CBL aims to strengthen its balance sheet and pursue further capital structure improvements.

CBL Properties (NYSE: CBL) has partnered with Hinton & Company to enhance its diversity, equity, inclusion, and belonging (DEI) initiatives. CEO Stephen Lebovitz emphasized the importance of this partnership in attracting and retaining a diverse workforce. CBL initiated the CBL Community in 2021, focusing on DEI strategies, including interviews, focus groups, and a company-wide survey. Additionally, CBL has advanced its ESG initiatives, establishing an ESG policy and team. Further details on their ESG commitments can be found on CBL's website.

EVgo has launched its first fast-charging station in Kansas at Oak Park Mall, Overland Park, in partnership with CBL Properties. This initiative aims to meet the growing demand for public EV charging, allowing users to charge up to 80% in just 15-45 minutes while shopping. The addition is part of a broader effort by EVgo to expand its charging network in response to increasing EV adoption. The company currently operates over 800 fast charging locations across 35 states, serving over 310,000 customers.