Raised FFO guidance + stronger occupancy and NOI growth support a positive outlook. Monitor execution on remaining non-recourse loan resolutions and any macro headwinds to consumer spending.
Price Chart
Executive Summary
CBL reported Q2 2026 FFO, as adjusted, of $1.89 per share, in line with the prior-year period. Same-center NOI grew 1.5% and portfolio occupancy improved 160 bps YoY. Full-year FFO, as adjusted, guidance was raised to $7.15-$7.25 per share, driven by strong operational trends and completed balance sheet initiatives.
Key Financial Metrics
Key Facts
- FFO as adjusted $1.89/share for Q2 2026 vs $1.86 prior year
- Same-center NOI up 1.5% Y/Y for Q2 and 2.2% for H1 2026
- Portfolio occupancy 90.4%, up 160 bps Y/Y
- Full-year FFO guidance raised to $7.15-$7.25 per share from $7.06-$7.19
- Leverage reduced: pro rata debt down $65.4M vs prior period-end
- Over $38M of previously restricted cash flow unlocked via refinancing
Financial Impact
Guidance raised +1.3% at midpoint; leverage reduction incremental
Risk Factors
- Approximately $189.6M of non-recourse mortgage debt in resolution (foreclosure/conveyance) could create headline noise
- Higher interest rate environment increases refinancing costs for upcoming maturities
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-339362 |
| Document: cbl-20260806.htm | 0001193125-26-339362 |
| Document: 0001193125-26-339362-index-headers.html | 0001193125-26-339362 |
| Document: 0001193125-26-339362-index.html | 0001193125-26-339362 |
| Document: 0001193125-26-339362.txt | 0001193125-26-339362 |
| 8-K Data (Synthetic) | 0001193125-26-339362 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 8, 2026 18d ago | SC 13D/A | $48.51 | awaiting T+20 | — | $49.72 (+2.49%) |
Oct 6, 2026 20d ago | 144 | $48.54 | awaiting T+20 | — | $49.72 (−2.43%) |
Sep 25, 2026 4w ago | Insider Cluster | $51.91 $49.91 | ▲ +3.85% | ▲ +2.38% | $49.72 (+4.22%) |
Sep 23, 2026 4w ago | Insider Cluster | $52.31 $49.83 | ▲ +4.74% | ▲ +4.32% | $49.72 (+4.95%) |
Aug 7, 2026 11w ago | 8-K | $56.55 $54.98 | ▼ −2.78% | ▼ −2.38% | $49.72 (−12.08%) |
Jun 17, 2026 18w ago | S-3ASR | $47.24 $54.22 | ▲ +14.78% | ▲ +13.46% | $49.72 (+5.25%) |
Jun 11, 2026 19w ago | Institutional Cluster | $49.75 $52.19 | ▲ +4.90% | ▲ +3.01% | $49.72 (−0.06%) |
May 8, 2026 24w ago | 8-K | $47.35 $48.43 | ▲ +2.28% | ▲ +2.26% | $49.72 (+5.01%) |
US Market Status
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