CBL - CBL & Associates Properties, Inc.
0.2652 -0.01 (-2.71%)
Pre-Market: 8:15AM EDT
| Previous Close | 0.3004 |
| Open | 0.2710 |
| Bid | 0.2665 x 4000 |
| Ask | 0.2797 x 1200 |
| Day's Range | 0.2651 - 0.3000 |
| 52 Week Range | 0.1800 - 1.7800 |
| Volume | 5,488,688 |
| Avg. Volume | 5,603,260 |
| Market Cap | 52.33M |
| Beta (5Y Monthly) | 2.67 |
| PE Ratio (TTM) | N/A |
| EPS (TTM) | -0.8900 |
| Earnings Date | Jul. 29, 2020 - Aug. 03, 2020 |
| Forward Dividend & Yield | N/A (N/A) |
| Ex-Dividend Date | Mar. 29, 2019 |
| 1y Target Est | 0.22 |
- Business Wire
CBL Properties Reports Results for First Quarter 2020 and Provides Further COVID-19 Update
CBL Properties (NYSE:CBL) announced results for the first quarter ended March 31, 2020, and provided a further update on the impact of the COVID-19 pandemic on its financial and operational performance. 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.
- Business Wire
CBL Properties Reschedules First Quarter 2020 Earnings Release
CBL Properties (NYSE:CBL) today announced that the Company has rescheduled its report of earnings for the first quarter 2020 due to a delay in completion of a third party report necessary to finalize CBL’s financial statements. The delay was related to the ongoing COVID-19 pandemic. The Company now plans to issue its earnings release after the close of market on Tuesday, May 26, 2020.
- Business Wire
CBL Properties Provides Additional Update on COVID-19 Response
CBL Properties (NYSE:CBL) today provided a further update on its portfolio and the Company’s actions to offset anticipated impacts of the COVID-19 pandemic on the Company’s revenue and cash flows.
- Bloomberg
How the Shopping Mall Can Survive Covid-19
(Bloomberg Opinion) -- Lakeside shopping center, just outside of London, is a mecca of consumerism. It’s situated in the county of Essex, which loves shopping so much that a reality TV show captures the exploits of its glamorous, bauble-buying residents.But since last week, the mall has been open for only essential purchases, in line with government guidance. Its owner Intu Properties Plc said last Thursday that it had collected just 29% of the rent due from its tenants there and around the country. At the same time last year, it had received 77% of the amount due. Occupants including Associated British Foods Plc’s Primark and Swedish fashion retailer Hennes & Mauritz AB, which has shuttered thousands of stores around the world, are withholding payments or seeking better terms.It’s a scenario that’s being repeated on both sides of the Atlantic. Cheesecake Factory Inc., which has 294 stores throughout the U.S. and Canada, said in a filing last week that it would not pay its April rent, and that was in discussions with its landlords, a who’s who of American mall owners.While consumer-facing groups such as apparel chains have been the first shoe to drop, landlords look set to be the next. Retailers are bracing for a prolonged shutdown. On Monday, Macy’s Inc. said it was forloughing most of its 130,000 strong workforce after losing the majority of its sales because of store closures.No wonder some, such as U.S. mall owner Taubman Centers Inc., are fighting back. It told tenants in a memo that they still have to pay, although it added that it’s working with affected occupiers.The developing stand-off will do nothing to help the plight of stores, nor in the longer term, shopping center owners. As I have argued, the fall-out from the catastrophic loss of business from the coronavirus retail crisis needs to be shared. Some consequences will have to be borne downstream, by suppliers; some upstream, by landlords.But this could be tricky. With fixed assets like malls, it’s not easy to adjust the cost base. Some also have significant borrowings. Lenders may have to bear some of the burden, while government relief looks increasingly necessary. My colleague Brian Chappatta has warned of the potential dangers to the mortgage market.Intu, which owns 17 U.K. malls including Manchester’s Trafford Center and the Metrocentre in Gateshead, is particularly vulnerable. Even before the outbreak, it was struggling under a mountain of borrowings. It said last Thursday that it was in talks with its lenders on waiving covenants, and that it could access the U.K. government’s 330 billion-pound ($410 billion) support mechanism.Meanwhile, in the U.S., mall owners CBL & Associates Properties Inc., Macerich Co. and Taubman stand out for their above average net debt-to-Ebitda ratios and heavy use of secured lending, according to Lindsay Dutch, an analyst at Bloomberg Intelligence.Others look to be in a better position.Simon Property Group Inc. has one of the strongest balance sheets. But it agreed in February to buy Taubman for $3.6 billion. This deal, if it goes ahead, together with the Covid-19 impact, could increase Simon’s net debt to 7 times Ebitda at the end of 2020, from 5.6 times a year earlier, according to Moody’s. Taubman has some prize assets, such as the Short Hills Mall in New Jersey and the Gardens Mall in Florida , but the higher leverage and integration will be more challenging in the current environment.Indeed, there will be pain even for the most solid operators. Simon is the biggest landlord to Cheesecake Factory, according to analysts at RBC Capital Markets.But even when the virus abates, the retail landscape won’t be the same. Some weaker stores and restaurants will not re-open their doors. For others, it will take considerable time for demand to return to normal.A frank conversation between retailers and landlords is needed to settle on ways for making it easier for everyone to weather this crisis. Alterations could include moving to monthly rent payments in cases where retailers are still expected to pay quarterly installments in advance, and doing so without any additional fees to facilitate the switch. Making it easier for tenants to break leases would also avoid time consuming and costly processes to exit agreements.While that may seem to favor retailers more than landlords, mall owners too have something to gain. The pandemic, and the retail shake-out that will inevitably follow, will exacerbate the divergence between the most muscular stores and restaurants and the laggards. It will also polarize the vibrant malls and secondary locations even more.To prosper in this new reality, mall owners will need to ensure they can attract the most desirable brands. The retailers that do emerge from the wreckage will remember how they were treated when the chips were down. On both sides, even-handed negotiations are the best way to help all parties recover, rather than risking bringing about the death of the mall for once and for all.This column does not necessarily reflect the opinion of Bloomberg LP and its owners.Andrea Felsted is a Bloomberg Opinion columnist covering the consumer and retail industries. She previously worked at the Financial Times.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- Business Wire
CBL Properties Provides Update on COVID-19 Response
CBL Properties (NYSE:CBL) today issued the following statement regarding COVID-19 events and impacts:
- Business Wire
CORRECTING and REPLACING CBL Properties Reports Results for Fourth Quarter and Full-Year 2019
Please replace the revised version to correct certain Q4 2019 financial information issued on February 6, 2020, at 4:15 p.m. ET. Please refer to Form 8-K/A furnished on March 11, 2020, for additional information.
- Simply Wall St.
Michael Ashner Is The Independent Director of CBL & Associates Properties, Inc. (NYSE:CBL) And They Just Spent US$1.4m On Shares
CBL & Associates Properties, Inc. (NYSE:CBL) shareholders (or potential shareholders) will be happy to see that the...
- Thomson Reuters StreetEvents
Edited Transcript of CBL earnings conference call or presentation 7-Feb-20 4:00pm GMT
Q4 2019 CBL & Associates Properties Inc Earnings Call
- Zacks
CBL & Associates (CBL) Q4 FFO and Revenues Surpass Estimates
CBL (CBL) delivered FFO and revenue surprises of 2.78% and 1.54%, respectively, for the quarter ended December 2019. Do the numbers hold clues to what lies ahead for the stock?
- Zacks
CBL & Associates Properties is Oversold: Can It Recover?
CBL & Associates Properties has been on a bit of a cold streak lately, but there might be light at the end of the tunnel for this overlooked stock.
- Simply Wall St.
How CBL & Associates Properties, Inc. (NYSE:CBL) Can Impact Your Portfolio Volatility
If you're interested in CBL & Associates Properties, Inc. (NYSE:CBL), then you might want to consider its beta (a...
- Zacks
Implied Volatility Surging for CBL & Associates (CBL) Stock Options
Investors need to pay close attention to CBL & Associates (CBL) stock based on the movements in the options market lately.
- Thomson Reuters StreetEvents
Edited Transcript of CBL earnings conference call or presentation 1-Nov-19 3:00pm GMT
Q3 2019 CBL & Associates Properties Inc Earnings Call
- GlobeNewswire
Bragar Eagel & Squire is Investigating Certain Officers and Directors of CBL & Associates Properties, EQT Corporation, and Zogenix and Encourages Investors to Contact the Firm
NEW YORK, Oct. 08, 2019 -- Bragar Eagel & Squire is investigating certain officers and directors of CBL & Associates Properties, Inc. (NYSE: CBL), EQT Corporation.
- Simply Wall St.
Did Changing Sentiment Drive CBL & Associates Properties's (NYSE:CBL) Share Price Down A Painful 93%?
CBL & Associates Properties, Inc (NYSE:CBL) shareholders should be happy to see the share price up 22% in the last...
- Motley Fool
Can CBL Recover From the Retail Apocalypse?
This mall operator and REIT has been hit hard by retail industry challenges.
- Motley Fool
CBL Stock Surges 19% on Activist Investor Involvement
Monday was one of the rare good days for CBL stock, which has lost 95% of its value since late 2014.
- Thomson Reuters StreetEvents
Edited Transcript of CBL earnings conference call or presentation 1-Aug-19 3:00pm GMT
Q2 2019 CBL & Associates Properties Inc Earnings Call
- Motley Fool
Sears Is Closing a Bunch of Stores (Again)
Sears' post-bankruptcy turnaround effort seems to be failing already.
- Simply Wall St.
How Does CBL & Associates Properties, Inc (NYSE:CBL) Affect Your Portfolio Volatility?
If you own shares in CBL & Associates Properties, Inc (NYSE:CBL) then it's worth thinking about how it contributes to...
