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CBL & Associates Properties
(NYSE:CBL)
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Rating:71Outperform
Price Target:
$59.00
▲(55.59% Upside)
Action:Upgraded
Date:05/27/26
The score is driven by improved profitability and cash flow, supported by a strong uptrend in the stock and an attractive valuation (low P/E with a solid dividend). The key offset is elevated balance-sheet risk from historically high leverage, even after recent refinancing actions.
Positive Factors
Cash generation improvement
Sustained positive operating cash flow and a step-up in trailing twelve‑month free cash flow improve the REIT's ability to service debt, fund maintenance capex and support distributions. Reliable cash conversion versus net income bolsters long‑term financial flexibility when recurring.
Negative Factors
Persistently high leverage
Multi-year elevated debt ratios materially constrain balance‑sheet flexibility; high leverage magnifies cash‑flow stress in tenant‑softness scenarios, limits capacity for opportunistic acquisitions or redevelopment, and increases refinancing and covenant risk over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash generation improvement
Sustained positive operating cash flow and a step-up in trailing twelve‑month free cash flow improve the REIT's ability to service debt, fund maintenance capex and support distributions. Reliable cash conversion versus net income bolsters long‑term financial flexibility when recurring.
Read all positive factors
CBL & Associates Properties (CBL) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.71B
Dividend Yield6.79%
Average Volume (3M)243.71K
Price to Earnings (P/E)9.8
Beta (1Y)0.73
Revenue Growth10.29%
EPS Growth160.54%
CountryUS
Employees402
SectorReal Estate
Sector Strength53
IndustryREIT - Retail
Share Statistics
EPS (TTM)5.62
Shares Outstanding30,944,757
10 Day Avg. Volume253,622
30 Day Avg. Volume243,710
Financial Highlights & Ratios
PEG Ratio0.06
Price to Book (P/B)2.99
Price to Sales (P/S)1.94
P/FCF Ratio4.50
Enterprise Value/Market Cap2.00
Enterprise Value/Revenue5.87
Enterprise Value/Gross Profit54.04
Enterprise Value/Ebitda6.81
Forecast
1Y Price Target
$55.00Price Target Upside45.04% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
CBL & Associates Properties Business Overview & Revenue Model
Company Description
CBL & Associates Properties, Inc. owns and manages a national portfolio of market-dominant properties located in dynamic and growing communities. CBL’s owned and managed portfolio is comprised of 88 properties totaling 55.6 million square feet acr...
How the Company Makes Money
CBL primarily makes money by monetizing its retail real estate through leasing and property operations. Its main revenue stream is rental income from tenants under lease agreements, typically consisting of (1) base rent (fixed contractual rent) an...
CBL & Associates Properties Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
38
Negative
Cash Flow
67
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 582.57M | 578.37M | 515.56M | 535.29M | 563.01M | 576.88M |
| Gross Profit | 63.24M | 43.71M | 59.23M | -32.86M | -141.34M | -27.73M |
| EBITDA | 501.84M | 476.42M | 353.85M | 367.92M | 377.22M | -167.97M |
| Net Income | 173.66M | 135.97M | 58.97M | 6.55M | -93.48M | -622.17M |
Balance Sheet | ||||||
| Total Assets | 2.65B | 2.73B | 2.75B | 2.41B | 2.68B | 2.95B |
| Cash, Cash Equivalents and Short-Term Investments | 283.01M | 335.37M | 283.94M | 296.33M | 337.14M | 319.55M |
| Total Debt | 2.08B | 2.17B | 2.21B | 1.97B | 2.11B | 2.36B |
| Total Liabilities | 2.26B | 2.36B | 2.43B | 2.08B | 2.31B | 2.54B |
| Stockholders Equity | 397.98M | 374.94M | 323.55M | 339.32M | 370.54M | 396.20M |
Cash Flow | ||||||
| Free Cash Flow | 270.92M | 249.68M | 202.22M | 183.52M | 208.23M | 38.77M |
| Operating Cash Flow | 270.92M | 249.68M | 202.22M | 183.52M | 208.23M | 38.77M |
| Investing Cash Flow | -83.28M | -115.11M | 65.01M | 1.70M | -156.69M | 87.33M |
| Financing Cash Flow | -98.07M | -135.42M | -236.50M | -204.09M | -145.80M | -158.41M |
CBL & Associates Properties Technical Analysis
Positive
37.92
Price Trends
47.15
Positive
42.46
Positive
37.32
Positive
Market Momentum
1.97
Negative
77.16
Negative
95.19
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CBL, the sentiment is Positive. The current price of 37.92 is below the 20-day moving average (MA) of 49.78, below the 50-day MA of 47.15, and above the 200-day MA of 37.32, indicating a bullish trend. The MACD of 1.97 indicates Negative momentum. The RSI at 77.16 is Negative, neither overbought nor oversold. The STOCH value of 95.19 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CBL.
CBL & Associates Properties Risk Analysis
CBL & Associates Properties disclosed 50 risk factors in its most recent earnings report. CBL & Associates Properties reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
CBL & Associates Properties Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | $2.03B | 21.54 | 8.76% | 6.77% | 8.23% | 24.98% | |
71 Outperform | $1.71B | 9.83 | 49.14% | 6.79% | 10.29% | 160.54% | |
68 Neutral | $1.95B | 19.15 | 11.26% | 3.97% | 5.91% | 59.55% | |
67 Neutral | $918.86M | 24.64 | 11.80% | 7.89% | 8.31% | -28.42% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
59 Neutral | $234.04M | 1.33 | 47.95% | ― | -67.13% | -68.06% | |
51 Neutral | $1.42B | 69.50 | 17.37% | 8.39% | -3.73% | -48.13% |
* Real Estate Sector Average
CBL
CBL & Associates Properties
55.28
30.83
126.06%
ALX
Alexander's
278.01
64.42
30.16%
SITC
SITE Centers
4.46
-2.07
-31.70%
GTY
Getty Realty
33.60
7.40
28.23%
BFS
Saul Centers
37.45
4.74
14.48%
WSR
Whitestone REIT
18.97
6.68
54.32%
CBL & Associates Properties Corporate Events
Executive/Board ChangesShareholder Meetings
CBL & Associates Shareholders Back Board and Governance Measures
Positive
May 26, 2026
At its annual meeting of shareholders held on May 21, 2026, CBL Associates Properties, Inc. shareholders elected seven directors, including Marjorie L. Bowen and CEO Stephen D. Lebovitz, to serve one-year terms on the company’s board. The v...
Executive/Board ChangesDividendsPrivate Placements and Financing
CBL & Associates Completes Major Refinancing, Boosts Dividend
Positive
Apr 2, 2026
On March 27, 2026, CBL Associates Limited Partnership closed a $176 million floating‑rate, non‑recourse loan with Beal Bank USA, secured mainly by Mayfaire Town Center, Pearland Town Center, Southaven Town Center and East Towne Mall, ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.