CBL & Assoc. Properties (CBL) Tops Q1 EPS by 2c
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CBL & Associates Properties Reports Strong First Quarter 2016 Results
April 27, 2016 4:17 PM EDTCHATTANOOGA, Tenn.--(BUSINESS WIRE)-- CBL & Associates Properties, Inc. (NYSE: CBL):
Same-center NOI for the first quarter 2016 increased 2.8% in the Total Portfolio and 2.5% in the Malls compared with the prior-year period. FFO per diluted share, as adjusted, increased 8% to $0.56 for the first quarter 2016, compared with $0.52 in the prior-year period. Year-to-date, CBL completed $359 million in disposition activity representing $190 million at CBL's share. These transactions generated net equity proceeds to CBL of nearly $100 million and removed over $90 million of secured debt from its balance sheet.... More