CBL & Assoc. Properties (CBL) Reports In-Line Q2 FFO; Approves $200M Common Stock Buyback Program
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CBL & Associates Properties, Inc. Announces $200 Million Share Repurchase Program
July 29, 2015 4:15 PM EDTCHATTANOOGA, Tenn.--(BUSINESS WIRE)-- CBL & Associates Properties, Inc. (NYSE: CBL) today announced that its Board of Directors has authorized a share repurchase program for the Company to buy up to $200 million of its common stock. The Company plans to repurchase shares from time to time on the open market, in privately negotiated transactions or otherwise, depending on market prices and other conditions. Purchases may be made through the program through August 31, 2016.
The significant discount that our stock currently trades at relative to its private market valuation provides an attractive investment opportunity, said Stephen... More
CBL & Associates Properties Reports Second Quarter 2015 Results
July 29, 2015 4:05 PM EDTCHATTANOOGA, Tenn.--(BUSINESS WIRE)-- CBL & Associates Properties, Inc. (NYSE: CBL):
Same-center sales per square foot increased 4.1% during the second quarter 2015 over the prior-year period. Average gross rent per square foot for stabilized mall leases signed in the second quarter 2015 increased 8.7% over the prior gross rent per square foot. FFO per diluted share, as adjusted, was $0.54 for the second quarter 2015, compared with $0.55 in the prior-year period. Same-center NOI for the second quarter increased 0.3% in the Total... More