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Last $19.53 USD
Change Today +0.08 / 0.41%
Volume 864.2K
CBL On Other Exchanges
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As of 8:04 PM 03/27/15 All times are local (Market data is delayed by at least 15 minutes).

cbl & associates properties (CBL) Key Developments

CBL & Associates Properties Declares Quarterly Common Stock Dividend and Preferred Stock Dividend, Payable on April 15, 2015 and March 30, 2015, Respectively

CBL & Associates Properties Inc. announced that its board of directors has declared a quarterly cash dividend for the company's common stock of $0.265 per share for the quarter ending March 31, 2015. The dividend will be payable on April 15, 2015, to shareholders of record as of March 30, 2015. The board also declared a quarterly cash dividend of $0.4609375 per depositary share for the quarter ending March 31, 2015, for the company's 7.375% Series D cumulative redeemable preferred stock. The dividend, which equates to an annual dividend payment of $1.84375 per depositary share, is payable on March 30, 2015, to shareholders of record as of March 13, 2015. The board also declared a quarterly cash dividend of $0.4140625 per depositary share for the quarter ending March 31, 2015, for the company's 6.625% Series E cumulative redeemable preferred stock. The dividend, which equates to an annual dividend payment of $1.65625 per depositary share, is payable on March 30, 2015, to shareholders of record as of March 13, 2015.

CBL & Associates Properties Inc. Announces Executive Promotions

CBL & Associates Properties Inc. announced the promotions of Andrew Cobb to senior vice president and director of accounting, Stuart Smith to senior vice president- planning/redevelopment, Jennifer Cope to vice president-shared services, Jon Meshel to vice president-development/redevelopment, and Ken Wittler to vice president-development. Andy Cobb joined CBL in June 2002, as vice president-accounting. In February 2007, he was promoted to vice president and director of accounting. Prior to joining CBL Cobb was an audit manager for Arthur Andersen. Stuart Smith joined CBL as director of tenant coordination in January 2001, and then became director-tenant design and development in April 2003. He was promoted to vice president-planning/redevelopment in February 2007. Smith has been an integral part of numerous anchor store additions to CBL malls and is responsible for advanced planning for all mall expansions and redevelopments within the company. Jennifer Cope joined CBL in July 2001, as a junior analyst in Financial Services. In July 2003, Cope was promoted to financial analyst and then to senior financial analyst in July 2006. Her responsibilities included the management of CBL’s insurance and risk management programs, technology for lease reporting needs, joint venture partner relations, and loan closings and assumptions. Jon Meshel joined CBL as assistant project manager in August 1999, and was promoted to project manager in September 2003. In November 2011, Meshel relocated from Boston to Chattanooga as director-development/redevelopment and is responsible for adding larger store formats to CBL’s malls. Ken Wittler joined CBL as a project manager in November 1997. Since then, Wittler has overseen the development of more than a dozen malls, additions and renovations for the Company. Prior to joining CBL, Wittler served six years as project manager for Jim Wilson & Associates and four years as Field Engineer for Tribble & Stephens Construction Company.

CBL & Associates Seeks Acquisitions

CBL & Associates Properties Inc. (NYSE:CBL) is looking for acquisitions. Stephen Lebovitz, President and Chief Executive Officer of CBL & Associates, states, “We look at acquisitions, we continue to look at acquisitions, and we're open if we found an opportunity that we felt like would fit with our strategy, a Tier 1 mall that would have growth potential going forward, and that we see either redevelopment our expansion potential going forward.”

CBL & Associates Properties Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Provides Earnings Guidance for the Year 2015

CBL & Associates Properties Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported total revenues of $283,849,000 compared to $282,009,000 a year ago. Income from operations was $104,335,000 compared to $62,368,000 a year ago. Income from continuing operations was $87,406,000 compared to $8,983,000 a year ago. For the quarter, net income attributable to common shareholders was $65.3 million, or $0.38 per diluted share, compared with a net loss attributable to common shareholders of $2.4 million, or a loss of $0.01 per diluted share for the fourth quarter 2013. Funds from operations of the operating partnership were $164,153,000 compared to $124,931,000 a year ago. Funds from operations of the operating partnership, as adjusted were $113,847,000 compared to $106,429,000 a year ago. Funds from operations per diluted share were $0.82 compared to $0.63 a year ago. Funds from operations, as adjusted, per diluted share were $0.67 compared to $0.63 a year ago. Funds from operations allocable to common shareholders were $140,072,000 compared to $106,429,000 a year ago. Funds from operations allocable to common shareholders, as adjusted were $133,420,000 compared to $124,931,000 a year ago. For the year, the company reported total revenues of $1,060,739,000 compared to $1,053,625,000 a year ago. Income from operations was $375,143,000 compared to $330,765,000 a year ago. Income from continuing operations was $252,979,000 compared to $115,317,000 a year ago. For the year, net income attributable to common shareholders was $174.3 million, or $1.02 per diluted share, compared with $40.3 million, or $0.24 per diluted share for 2013. Funds from operations of the operating partnership were $545,514,000 compared to $437,451,000 a year ago. Funds from operations of the operating partnership, as adjusted were $387,597,000 compared to $370,400,000 a year ago. Funds from operations per diluted share were $2.73 compared to $2.23 a year ago. Funds from operations, as adjusted, per diluted share were $2.28 compared to $2.22 a year ago. Funds from operations allocable to common shareholders were $465,160,000 compared to $371,702,000 a year ago. Funds from operations allocable to common shareholders, as adjusted were $454,553,000 compared to $435,919,000 a year ago. The company provided earnings guidance for the year 2015. The company is providing 2015 FFO guidance in the range of $2.24 - $2.31 per share. Expected diluted earnings per common share are $0.67 to $0.74.

CBL & Associates Properties Inc. Appoints Robert Snetman as New Senior Director of Asset Management and Third Party Services

CBL & Associates Properties Inc. has appointed Robert Snetman as new senior director of asset management and third party services. In his new role, Snetman will focus upon further development and growth of CBL's third party management and leasing services. Snetman began his career with CBL in 1994 as an assistant manager at CoolSprings Galleria in Franklin, TN. In 1996, he moved to CBL's corporate office as a senior leasing manager. Snetman was promoted to senior director of Sponsorship and Branding in 2001, then to senior director of Peripheral Development in 2006.

 

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