Quarterly ResultMay 8, 2026, 08:47 AM
CBL Properties Q1 FFO Adj. $1.73, Raises 2026 Guidance & Dividend 39%
AI Summary
CBL Properties reported strong first-quarter 2026 results, with FFO, as adjusted, increasing 15% to $1.73 per share and same-center NOI up 2.1%. The company raised its full-year 2026 FFO, as adjusted, guidance to $7.06-$7.19 per share. Additionally, CBL's Board approved a 39% increase in its quarterly dividend to $0.625 per common share, reflecting confidence in cash flows after successful refinancing of $634 million in term loans and other debt. The company also acquired Gateway Mall for $43.5 million.
Key Highlights
- CBL Properties Q1 2026 FFO, as adjusted, increased 15% to $1.73 per share.
- Same-center Net Operating Income (NOI) for Q1 2026 rose 2.1% year-over-year.
- Full-year 2026 FFO, as adjusted, guidance increased to $7.06 - $7.19 per share.
- Quarterly dividend increased 39% to $0.625 per common share for Q2 2026.
- Refinanced $634.0 million term loan, expected to generate $30 million incremental annual free cash flow.
- Acquired Gateway Mall in Lincoln, NE, for $43.5 million.
- Same-center tenant sales per square foot for Q1 2026 increased 5.8%.
- Portfolio occupancy was 90.5% as of March 31, 2026, up 10 bps from prior year.