CBL & Associates Properties Inc. (CBL)

Key figures

The last twelve months reported, with the latest price and balance sheet.

Revenue, last twelve months

$588.1M

Revenue growth

9.0%

Net income, last twelve months

$217.3M

Earnings per share

$6.93

Operating margin

27.2%

Net margin

37.0%

Return on equity

50.8%

Market value

$1.5B

Price to earnings

7.2x

Dividend yield

0.0%

Cash

$101.3M

Debt

$2.0B

Debt to equity

4.76

Shares outstanding

30.9M

Financial statements

Revenue, profit and cash flow by fiscal year, each year linked to its annual report.

By quarter

What the company said with its results

From the second quarter of 2026 results, filed 7 August 2026.

• FFO, as adjusted, per share rose. Q2 FFO, as adjusted, per diluted share was $1.89 against $1.86 a year earlier. Six-month figure was $3.62 against $3.37. Reported FFO per share was $1.93 against $1.48.
• Diluted EPS rose on gains. Diluted EPS was $1.47 for Q2 against $0.08, and $2.95 for six months against $0.35. Q2 included a $5.9 million gain on deconsolidation and a $13.6 million gain on sales of real estate.
• Same-center NOI up 1.5%. Same-center NOI was $97.7 million in Q2 against $96.2 million, up 1.5%. Six-month same-center NOI was $191.8 million, up 2.2%. Rental revenue rose $1.6 million on occupancy and a $0.4 million rise in percentage rent.
• Equity earnings lifted results. Equity in earnings of unconsolidated affiliates was $22.3 million in Q2 against $6.4 million. The company reported $12.2 million of gains on sales by those affiliates in the quarter.
• Occupancy up 160 basis points. Portfolio occupancy was 90.4% at June 30, 2026, against 88.8% a year earlier. Malls were 88.3% against 86.2%, and open-air centers 95.0% against 93.6%.
• Mall NOI flat in quarter. Mall same-center NOI was $66.3 million in Q2, down 0.1% from $66.4 million, and rose 1.3% for six months. Outlet centers rose 5.4% in the quarter.
• Lifestyle and open-air NOI grew. Lifestyle center NOI was $10.0 million in Q2, up 9.6%. Open-air center NOI was $10.3 million, up 2.0%. Outparcels and other rose 2.6%.
• Nearly 1.3 million square feet leased. Q2 leasing covered nearly 1.3 million square feet, including about 585,000 square feet of comparable new and renewal leases. Those comparable leases averaged 8.8% higher rents than prior rents.
• New leases priced 35.7% higher. Small-shop new leases in Q2 averaged 35.7% above prior gross rents, and renewals 3.1%. The six-month figures were 41.7% for new leases and 2.0% for renewals.
• Tenant sales per square foot up. Same-center tenant sales per square foot for the rolling twelve months were $455, up 3.9%. Q2 same-center sales per square foot rose about 2.2%.
• Real estate taxes fell. Real estate taxes were $1.3 million lower in Q2 and $2.7 million lower for six months. Property operating expense was $25.8 million in Q2 against $23.6 million.
• Operating expenses rose in quarter. Same-center operating expenses rose $0.2 million net in Q2. Property operating expenses were up $1.2 million and maintenance and repair up $0.3 million.
• General and administrative expense eased. General and administrative expense was $14.8 million in Q2 against $15.2 million, and $33.4 million for six months against $35.9 million.
• Year-to-date financing reached $925.1M. Year-to-date financing activity totals $925.1 million, including the March refinancing of the $634.0 million term loan through a $425.0 million mall loan and a $176.1 million bank loan.

Company events

The newest 8-K filings of 331 held.

Every filing

The newest filings with the SEC of 720 held.

Insider trades

Form 4 trades by officers, directors and 10% owners, last 12 months.

Planned insider sales

Form 144 notices, filed when the sell order goes to the broker.

Large holders

Schedule 13D and 13G filings by holders of more than 5% of the voting shares.

Short interest

Shares sold short and not yet bought back, on each FINRA settlement date.

Funds that hold it

From each fund's latest Form 13F.

245 funds held it at 30 Jun 2026: 142 added and 46 trimmed in the quarter. The largest:

Peers

Companies in the same industry.

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