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CBLCBL & Associates Properties, Inc.
$53.06$1.6B
Overview & Tools
OverviewChart Terminal ↗Visualize
Valuation & Forecasts
Valuation ModelsEstimatesDCF Model
Price & Analyst Data
Analyst TargetsPrice History
Financial Statements
Income StatementBalance SheetCash FlowRatios & Margins
Performance
P/E HistoryRevenue HistoryEarnings HistoryDividend HistoryTotal Return
Discovery & Screens
Live BreakoutsStock ScreenerOwnership
CBL logo

CBL & Associates Properties, Inc.

CBL
NYSE · Retail REITs
$53.06
At close - Sep 23, 4:00 PM EDT - USD
Market Cap$1.64B
P/E12.2x
52W High$60.40
Volume177.21K
OverviewTerminalAnalysisFinancialsValuationEarningsBreakoutsOwnership
VCP Research Verdict2026Q2

Volatile FFO and Negative Equity Raise Red Flags

CBL's fundamentals are clouded by extreme quarterly volatility in NOI margins and FFO per share, with 2026Q2 NOI margin at 65.4% versus 8.9% a year earlier, and FFO per share swinging from $3.68 in 2025Q3 to $0.29 in 2026Q2. The balance sheet shows a dramatic ...

GrowthMixed
ProfitabilityStrained
ValuationAttractive
TechnicalsMixed
Explore valuation models
MARKET ACTION

CBL price & volume

Price trend, volume and key moving averages

Launch Terminal
Loading chart...
Decision Checklist4 Core Signals

What matters now

The signals most likely to change the investment case.

01

Earnings momentum

6/12 Beats

EPS beat 6 of last 12 quarters

02

Valuation risk

-47% Peers

P/E is 47% below peer median

03

Market leadership

RS 82 · Leader

High momentum (Outperforming 82% of market)

04

Mixed Trend

Mixed

Price < 50DMA but > 200DMA

Next CatalystConfirmed earnings · Nov 5

Market performance

Price History →

Trailing total returns as of 9/24/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return
CBL+48.75%
S&P 500 (^GSPC)+12.39%
1-Year Return
CBL+83.39%
S&P 500 (^GSPC)+15.77%
3-Year Return
CBL+182.79%
S&P 500 (^GSPC)+73.64%
5-Year Return
CBL+112.95%
S&P 500 (^GSPC)+70.71%
02

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis
Trailing P/EMedian
12.2x
Forward P/E
16.4x
EV/EBITDA80th %ile
12.4x
FCF YieldCash Flow
15.2%

Valuation vs 5-Year History

Multiple Range
Metric
Current
5Y Median
Historical Range
Percentile
P/E
12.2x
15.7x
33rd· Fair
EV/EBITDA
12.4x
10.7x
80th· High
Price/FCF
6.6x
4.5x
80th· High
Current Multiple
5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection
Bear$72.67+37.0%
Base (Fair)$96.48+77.5%
Bull$122.41+130.7%
$72.67 Bear$96.48 Base$122.41 Bull
Current Market Price: $53.06
Trades at a 45.0% discount to Base DCF ($96.48)
Open DCF & Valuation Models →Chart Terminal ↗

Growth & profitability

Annual revenue & EPS trend
Revenue
$578M+12.2% YoY
Net income
$136M+130.6% YoY
Free cash flow
$250M+23.5% YoY
Operating margin
24.2%-1.5 pts YoY
ROIC (TTM)4.2%
Avg ROIC 5Y-
ROE (TTM)40.1%
Piotroski Score8 / 9
Financial Statements →
03

Monitor what changed

Recent results and news deserve attention only when they alter the forward view.

OPERATING RESULTS

Recent Earnings

Earnings History
EPS Beat Rate6/12 (86%)
Revenue Beat Rate6/12 (67%)
QuarterEPS (Act vs Est)Revenue (Act vs Est)
Q3 2026Latest
Aug 6, 2026
$1.47
vs —
$142M-3.0%
vs $146M
Q2 2026
May 8, 2026
$1.48
vs —
$146M+0.0%
vs $146M
Q1 2026
Feb 13, 2026
$1.56+358.8%
vs $0.34
$150M+7.4%
vs $140M
Q4 2025
Nov 6, 2025
$2.38+1600.0%
vs $0.14
$139M+3.9%
vs $134M
Historical baseline: 12 quarters analyzedGAAP / Adjusted
MARKET COVERAGE

Latest News

5 Stories
The Motley Fool·6d ago
CBL & Associates CEO Lebovitz Sells 50,000 Shares for $2.6 Million

The direct disposal of 50,000 shares was executed at a weighted average price of $52.83 per share, totaling ~$2.6 million. The transaction size represents 9% of the equity stake held by the CEO prior to the filing.

Seeking Alpha·Sep 14, 2026
CBL & Associates Properties: This Cheap 4.6% Mall REIT Still Has Room To Run

CBL & Associates Properties is rated 'Buy' with a $72/share price target, reflecting a 31.5% upside from current levels. CBL trades at a forward P/AFFO of 7.6x, a steep discount to peers, despite strong leasing spreads and a transformed balance sheet. Management raised full-year AFFO guidance to $7.15–$7.25/share, with dividend yield at 4.6% and a payout ratio of 35% (AFFO) or 81% (discretionary cash flow).

GlobeNewsWire·Aug 18, 2026
CBL International Reports Strong 1H 2026 Results Highlighting Return to Profitability, Strong Volume Growth, Gross Profit More Than Doubled, and a Special Cash Dividend of $0.10 Per Share

Demonstrating Resilience Amid Geopolitical Volatility and Delivering Tangible Results from Multi-Year Network Investments

GuruFocus·Aug 14, 2026
CBL Properties Closes $50.65 Million Sale of York Town Center in York, PA

CBL Properties (NYSE: CBL) and its 50% joint venture partner announced today that it has closed on the sale of York Town Center, a dominant open-air retail dest

Filtered for CBL & Associates Properties, Inc.More Headlines
04

Compare before deciding

Benchmark CBL against direct peers instead of judging its metrics in isolation.

Peers Comparison

Key metrics vs top competitors for CBL & Associates Properties, Inc. (CBL)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
CBL logoCBLCBL & Associates Properties, Inc.Current
$53.06$1.64B12.2312.18%23.51%40.14%4.71%
MAC logoMACThe Macerich Company
$22.67$6.75B-29.4410.58%-16.81%-6.44%—
SKT logoSKTTanger Inc.
$35.13$4.04B35.4810.55%20.96%17.91%—
SPG logoSPGSimon Property Group, Inc.
$204.16$66.21B14.446.72%68.41%87.97%—
KIM logoKIMKimco Realty Corporation
$22.22$14.98B26.775.06%27.73%5.76%—
REG logoREGRegency Centers Corporation
$72.73$13.28B25.793.39%38.24%9.22%—

Compare CBL vs Peers

CBL & Associates Properties, Inc. (CBL) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs MAC

Most directly comparable listed peer for CBL.

Scale Benchmark

vs SPG

Larger-name benchmark to compare CBL against a more recognizable public peer.

Peer Set

Compare Top 5

vs MAC, SKT, SPG, KIM

05

Keep researching

Verify the primary filings, follow material updates, and answer the remaining questions.

CBL SEC Filings & Documents

CBL & Associates Properties, Inc. (CBL) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Aug 7, 2026·SEC

Material company update

May 26, 2026·SEC

Material company update

May 8, 2026·SEC

10-K Annual Reports

3
FY 2026

Mar 3, 2026·SEC

FY 2025

Mar 3, 2025·SEC

FY 2024

Feb 29, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

Aug 7, 2026·SEC

FY 2026

May 8, 2026·SEC

FY 2025

Nov 7, 2025·SEC

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CBL Frequently Asked Questions

CBL & Associates Properties, Inc. (CBL) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is CBL & Associates Properties, Inc.'s revenue?

CBL & Associates Properties, Inc. (CBL) reported $588.1M in revenue for fiscal year 2025. This represents a 25% decrease from $781.4M in 2004.

How fast is CBL & Associates Properties, Inc. growing?

CBL & Associates Properties, Inc. (CBL) grew revenue by 12.2% over the past year. This is steady growth.

Is CBL profitable?

Yes, CBL & Associates Properties, Inc. (CBL) is profitable, generating $216.3M in net income for fiscal year 2025 (23.5% net margin).

Dividend & Returns
Does CBL pay dividends?

Yes, CBL & Associates Properties, Inc. (CBL) pays a dividend with a yield of 4.71%. This makes it attractive for income-focused investors.

What is CBL's return on equity?

CBL & Associates Properties, Inc. (CBL) has a return on equity (ROE) of 40.1%. This is excellent, indicating efficient use of shareholder capital.

Industry Metrics
What is CBL & Associates Properties, Inc.'s FFO?

CBL & Associates Properties, Inc. (CBL) generated Funds From Operations (FFO) of $298.0M in the trailing twelve months. FFO is the primary profitability metric for REITs.

Is CBL a good dividend stock?

CBL & Associates Properties, Inc. (CBL) offers a 4.71% dividend yield, which is attractive for income investors. REITs are required to distribute at least 90% of taxable income to shareholders.

What if you invested $1,000 in CBL back in 2004?

Total return calculator · dividends reinvested · 22+ years of data

See returns →