CBL Properties Reports Third Quarter 2026 Results and Raises Full-Year Guidance
Key Highlights
- ➤2026 adjusted FFO guidance raised to $7.34-$7.44 per share
- ➤Q3 adjusted FFO per share rose 23% to $1.90
- ➤Portfolio occupancy increased 130 bps year over year to 91.5%
- ➤West County Center refinancing unlocked more than $7.0 million annual free cash flow
- ➤CBL authorized a $25.0 million common-stock repurchase program
Expert Statements
Stephen D. Lebovitz, Chief Executive Officer of CBL Properties
“CBL delivered another quarter of excellent operating results, with third quarter same-center NOI growing by 3.8%,”
Stephen D. Lebovitz, Chief Executive Officer of CBL Properties
“As a result of our portfolio’s continued strong performance, we are raising both same-center NOI and FFO guidance for the second time this year.”
Stephen D. Lebovitz, Chief Executive Officer of CBL Properties
“Growth was driven by embedded rent increases, rental increases in renewal leasing and higher occupancy.”
Stephen D. Lebovitz, Chief Executive Officer of CBL Properties
“Same-center tenant sales per square foot rose 3.6% for the rolling twelve months to $463 as traffic continues to increase across our portfolio.”
Stephen D. Lebovitz, Chief Executive Officer of CBL Properties
“Leasing demand remains high as our leasing team signed more than 930,000 square feet of new and renewal leases in the quarter, adding $4.6 million in net new annual rent.”
Stephen D. Lebovitz, Chief Executive Officer of CBL Properties
“We are also seeing solid growth in rents as well with comparable lease spreads averaging an increase of 6.8%, including new leases coming in 34% above prior rents.”
Stephen D. Lebovitz, Chief Executive Officer of CBL Properties
“Portfolio occupancy increased to 91.5%, up 130 basis points from a year ago and 110 basis points from the end of the second quarter.”
Stephen D. Lebovitz, Chief Executive Officer of CBL Properties
“We are pleased to have closed on the $135.0 million refinancing of West County Center.”
Stephen D. Lebovitz, Chief Executive Officer of CBL Properties
“The loan has a five-year term and removes the cash management sweep, unlocking more than $7.0 million of annual free cash flow.”
Stephen D. Lebovitz, Chief Executive Officer of CBL Properties
“With nearly $1.0 billion in new financings completed year-to-date, we have no major maturities until 2028 and added over $45.0 million in annual free cash flow.”
Stephen D. Lebovitz, Chief Executive Officer of CBL Properties
“Our priority is to allocate capital in the way that creates the most long-term value for shareholders.”
Stephen D. Lebovitz, Chief Executive Officer of CBL Properties
“With a strengthened balance sheet and growing free cash flow, we have the flexibility to repurchase shares while continuing to pursue strategic investments.”
CBL Properties Reports Third Quarter 2026 Results and Raises Full-Year Guidance
Same-Center NOI Up 3.8%; Portfolio Occupancy Up 130 bps to 91.5%; Comparable Lease Spreads of 6.8%; Trailing Twelve-Month Same-Center Sales per Square Foot Up 3.6% to $463
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