CBL Properties

CBL

Market cap $898M

U.S. equity markets rallied to fresh record-highs this past week as investors leaned into rate cut expectations following a wave of soft employment data and a Federal Government shutdown. For the fourth time since 1995, the federal government entered a partial "shutdown" after the U.S. Senate failed to reach the 60-vote threshold required for passage of appropriations. Defering to experience from prior shutdowns in 2013 (16 days) and in 2018 (35 days), markets largely shrugged off the latest Congressional impasse, with investors still anticipating a timely resolution.

CHATTANOOGA, Tenn.--(BUSINESS WIRE)--CBL Properties (NYSE:CBL) today announced that it had closed on nearly $158.0 million in financing activity in three separate transactions. This is in addition to the previously announced financing activity completed in 2025, totaling more than $520 million. CBL and its joint venture partner closed on a new $43.0 million loan secured by The Pavilion at Port Orange in Port Orange, FL. The five-year non-recourse loan has a fixed interest rate of 5.9%, interest.

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REITs performed very well in August (+5.48%), almost pulling the REIT sector's year-to-date total return back into the black (-1.11%). Small cap (+7.52%) and mid cap REITs (+7.13%) averaged strong gains in August while large caps (+3.16%) and micro caps (+0.87%) averaged more modest returns. 83.87% of REIT securities had a positive total return in August.

CHATTANOOGA, Tenn.--(BUSINESS WIRE)--CBL Properties (NYSE:CBL) today announced that Element by Westin is now open at Mayfaire Town Center in Wilmington, North Carolina. The 139-key hotel is located on International Drive and is a 49/51 joint venture between CBL and Chattanooga-based Vision Hospitality. “When we acquired Mayfaire Town Center in 2015, we saw a significant opportunity to further diversify the mix of uses available on the campus,” said Stephen Lebovitz, chief executive officer, CBL.

The Dow Jones Equity All REIT index grew 0.59% during the recent week, while the MSCI US REIT index increased 0.71%. The healthcare REIT index was the sole Dow Jones US real estate sector property index to close the recent week in the red, down 1.57%. Cannabis-oriented Innovative Industrial Properties Inc. was the top-performing REIT stock above a $200 million market capitalization for the recent week, with a share-price gain of 14.01%.

A surprising solid REIT earnings season wrapped up this week. Of the 100 equity REITs that provide full-year FFO guidance, 62% raised their outlook - above the historical 55% average. Disinflation was a surprisingly common thread across second-quarter results, with the majority of the upside revisions being driven by improved expense expectations - the highest quantity of expense reductions ever. Healthcare REITs were notable upside standouts as senior housing fundamentals remained stellar, while skilled nursing REITs received some good news on the policy front via healthy CMS Medicare rate increases.

CBL Properties' second-quarter 2025 results benefit from strong leasing gains and four major mall acquisitions, boosting cash flow and a higher dividend.

CBL & Associates Properties is a retail REIT focused on malls and open-air centers. The company reported 7.5% AFFO growth in Q2 2025, benefiting from a lower share count and declining interest costs. Recent disposals and acquisitions should boost H1 2026 AFFO by 2.5%, while each 0.25% Fed rate cut will provide an incremental 1.1% AFFO boost.

CHATTANOOGA, Tenn.--(BUSINESS WIRE)--CBL Properties (NYSE: CBL) announced results for the second quarter ended June 30, 2025. Results of operations as reported in the consolidated financial statements for these periods are prepared in accordance with GAAP. A description of each supplemental non-GAAP financial measure and the related reconciliation to the comparable GAAP financial measure is located at the end of this news release.     Three Months Ended June 30,     Six Months Ended June 30,  .