Cbl & Associates Properties, Inc. ( (CBL) ) has released its Q4 earnings. Here is a breakdown of the information Cbl & Associates Properties, Inc. presented to its investors.
CBL & Associates Properties, Inc., headquartered in Chattanooga, TN, is a real estate investment trust (REIT) that owns and manages a diverse portfolio of shopping centers and retail properties across the United States. The company focuses on market-dominant properties in dynamic and growing communities.
CBL Properties reported strong financial results for the fourth quarter and full year of 2024, with a notable increase in net income attributable to common shareholders and a slight rise in same-center net operating income (NOI) for the year. The company also announced significant acquisitions and sales, contributing to its robust performance.
Key highlights from the earnings report include a 0.2% increase in same-center NOI for 2024 compared to the previous year, despite a 1.6% decline in the fourth quarter. The company executed nearly 4.5 million square feet of leases in 2024, with a portfolio occupancy rate of 90.3% as of December 31, 2024. Additionally, CBL completed over $500 million in financing activities and declared a regular cash dividend of $0.40 per share and a special cash dividend of $0.80 per share.
CBL’s strategic moves in 2024, such as acquiring its partner’s interests in three high-performing centers and completing asset sales worth $85 million, have strengthened its portfolio and balance sheet. The company also made significant progress in leasing activities, signing new deals with prominent brands and restaurants.
Looking ahead, CBL’s management is optimistic about 2025, with plans to drive operational improvements through strategic leasing and redevelopment efforts. The company aims to leverage its strong balance sheet to enhance cash flow and shareholder returns, despite potential uncertainties and headwinds in the market.
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