CBL Properties is a real estate investment trust (REIT) headquartered in Chattanooga, Tennessee, that owns and manages a national portfolio of market-dominant properties located in dynamic and growing middle-market communities. The company's portfolio is primarily comprised of high-quality enclosed malls, outlet centers, and lifestyle retail centers, as well as open-air centers. CBL's properties are located across numerous states, with a presence in cities such as Chattanooga and Nashville, Tennessee; Lexington, Kentucky; St. Louis, Missouri; Fayetteville and Greensboro, North Carolina; Myrtle Beach, South Carolina; and various locations in Texas including Laredo and Pearland. The company's strategy involves strengthening its portfolio through active management, aggressive leasing, and profitable reinvestment, which includes development and redevelopment projects. CBL also pursues a portfolio optimization strategy, which involves dispositions of certain assets to redeploy capital into acquiring dominant enclosed malls.
CBL & Associates Properties, Inc. (CBL) has engaged in several large-scale transactions as part of a high-level strategy to redeploy capital from the sale of lower-yielding open-air centers into higher-yielding enclosed malls, while simultaneously returning underperforming assets to lenders and restructuring its debt profile. A major historical event impacting the company's current structure was its emergence from Chapter 11 bankruptcy in November 2021, which resulted in a comprehensive balance sheet reorganization that significantly diluted prior equityholders.
On May 7, 2026, the company's board of directors changed its regular quarterly dividend, increasing it by 39% to $0.625 per share. Earlier in the year, in March 2026, the company also declared a special cash dividend of $0.175 per common share.
The company has executed multiple share repurchase programs. Under a $25 million authorization approved in November 2025, the company repurchased 363,676 shares for $12.0 million through the first quarter of 2026, representing approximately 1.2% of its roughly 31 million existing shares. Previously, the company repurchased over 1.5 million shares across 2024 and 2025, including a 500,000 share private block trade for $12.5 million in October 2024, representing about 1.6% of outstanding shares at the time.
**Acquisitions**
**Dispositions**
**Refinancings, new loans & other capital markets**
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