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 reports news on its real estate investment trust operations, including earnings, portfolio occupancy, leasing activity, retail tenant trends and property-level capital spending. The company owns and manages a national portfolio of enclosed malls, outlet centers, lifestyle retail centers, open-air centers and related retail assets, with revenue driven primarily by leasing arrangements with retail tenants.
Recurring CBL updates also cover non-recourse property financing, debt refinancing, acquisitions and dispositions, dividend declarations, common stock repurchase activity and balance sheet strategy. Company news often ties operating results to funds from operations, same-center net operating income, rental revenue components and activity across mall, lifestyle and open-air center assets.
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.
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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