CBL Properties Authorizes $25.0 Million Stock Repurchase Plan
CBL Properties' board authorized a new repurchase program of up to $25.0 million of common stock, executable through December 31, 2027. CEO Stephen Lebovitz said the shares are undervalued relative to the portfolio's quality and cash flow, citing a stronger balance sheet, no major debt maturities until 2028, and over $366.0 million in cash.
Key figures
- Cash balance
- 366000000
- Enclosed malls
- 54
- Repurchase deadline
- December 31, 2027
- Portfolio properties
- 85
- Buyback authorization
- 25000000
- No major debt maturities until
- 2028
- Portfolio square feet millions
- 54.8
AI analysis
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