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NYSE · Real Estate

Cbl & Associates Properties Inc. (CBL)

As-reported financials and SEC filings for Cbl & Associates Properties Inc. The latest annual period is FY2025. The latest reported quarter is Q2 FY2026. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About Cbl & Associates Properties Inc.

CBL & Associates Properties Inc is a real estate investment trust that owns, develops, leases, manages, and operates various retail properties including regional shopping malls, outlet centers, lifestyle centers, and open-air centers. The company primarily serves retail tenants across 22 states, focusing on the southeastern and midwestern United States. It generates revenue mainly from leasing retail space and related services, as well as from management fees and property sales.

Snapshot

Revenue
$578.4M
Revenue growth (YoY)
12.2%
Net income
$136.0M
Diluted EPS
$4.34
Gross margin
—
Operating margin
—
Net margin
23.5%
FCF margin
—
ROE
37.3%
net income / fiscal-year-end equity
P/E
7.2×
trailing when available, otherwise FY EPS
Market cap
$1.53B
Long-term debt / equity
5.95×
non-current term debt only

Fundamentals are from SEC filings for FY2025, the latest annual period (ended December 31, 2025). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.

What changed at Cbl & Associates Properties

  • Revenue grew 12.2% to $578M in FY2025, after a 3.7% decline the year before.
  • Most recent quarter Q2 FY2026: revenue $146M, up 4.0% from Q2 FY2025.
  • Net income rose 130.6% to $136M in FY2025.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where Cbl & Associates Properties’s fundamentals sit among the 165 REITs. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Net margin23.5%
70th percentile of 157
Revenue growth (YoY)+12.2%
83rd percentile of 161
ROE37.3%
97th percentile of 142
P/E7.2×
5th percentile of 105
Long-term debt / equity5.95×
95th percentile of 100
Short interest3.50d
39th percentile of 154

Cbl & Associates Properties’s return on equity of 37.3% ranks in the 97th percentile of the 142 REITs reporting it. Cbl & Associates Properties’s P/E of 7.2 ranks in the 5th percentile of the 105 peers with a meaningful P/E. Cbl & Associates Properties’s long-term debt to equity of 5.95 ranks in the 95th percentile of the 100 REITs reporting it.

No reported insider purchases (code P) in the last 90 days; 7 insider sales totaling $72.6M. For context, about 15% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →

Percentiles describe where a figure sits among industry peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 7 quant / multi-strat books among the superinvestors we track; no conviction manager currently reports a position.

Conviction investors
0
+7 quant / multi-strat
Initiated / added
6
0 new, 6 added
Reduced / exited
1
1 trimmed, 0 exited
Combined position
$68.1M
reported long value
InvestorAs ofPosition valueSharesChange
AQR Capital ManagementquantQ2 2026$19.4M365.7KAdded
Renaissance TechnologiesquantQ2 2026$16.7M313.8KReduced
Citadel AdvisorsquantQ2 2026$11.3M213.0KAdded
Two Sigma InvestmentsquantQ2 2026$6.8M128.3KAdded
D. E. ShawquantQ2 2026$5.6M106.4KAdded
Millennium ManagementquantQ2 2026$4.2M79.0KAdded
Point72 Asset ManagementquantQ2 2026$4.1M77.0KAdded

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.

Buys (90d)
0
code P
Bought (90d)
—
code P value
Sells (90d)
7
$72.6M
Reported activity
Net selling
by $ value, 90d
Trade dateInsiderTypeSharesPriceValue
2026-10-06
filed 2026-10-08
CANYON CAPITAL ADVISORS LLCInsiderSell1.3M$52.19$68.2M
2026-09-24
filed 2026-09-25
Jennifer CopeEVP Ops Services & Risk MgmtSell6.8K$52.00$352K
2026-09-22
filed 2026-09-23
Joseph KhaliliEVP Financial Planning & AnlysSell6.8K$54.21$367K
2026-09-16
filed 2026-09-17
Stephen D. LebovitzCEOSell43.1K$52.73$2.3M
2026-09-16
filed 2026-09-17
Stephen D. LebovitzCEOSell6.9K$53.47$367K
2026-09-03
filed 2026-09-08
Jeffery V. CurryChief Legal Officer & Sec.Sell681$55.10$38K
2026-08-18
filed 2026-08-20
Kathryn A. ReinsmidtEVP - Chief Operating OfficerSell17.5K$57.10$1.0M
2026-06-18
filed 2026-06-22
Howard B. GrodyExec VP-LeasingSell4.7K$48.06$227K
2026-06-18
filed 2026-06-22
Howard B. GrodyExec VP-LeasingSell1.0K$47.92$48K
2026-06-05
filed 2026-06-09
David Michael FieldsDirectorSell3.6K$47.97$172K
2026-06-02
filed 2026-06-03
Benjamin W. JaenickeEVP - Chief Financial OfficerSell6.0K$48.45$289K
2026-06-02
filed 2026-06-03
Benjamin W. JaenickeEVP - Chief Financial OfficerSell526$48.56$26K

Reported non-derivative purchases and sales (codes P/S), which may be open-market or private. Excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
1.1M
settled 2026-09-30
Change vs prior
-0.5%
vs previous settlement
Days to cover
3.50
at avg daily volume
Avg daily volume
306.4K
FINRA reported
SettlementShares shortChangeDays to cover
2026-09-301.1M-0.5%3.50
2026-09-151.1M+3.2%4.52
2026-08-311.0M-5.0%5.39
2026-08-141.1M+6.1%4.68
2026-07-311.0M+5.5%3.31
2026-07-15981.1K+2.7%3.12
2026-06-30955.1K+34.8%2.29
2026-06-15708.6K-0.9%3.08

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2025FY2024FY2023FY2022FY2020
Revenue$578.4M$515.6M$535.3M$563.0M$575.9M
Gross profit—————
Operating income—————
Net income$136.0M$59.0M$6.5M$-93.5M$-295.1M
Diluted EPS$4.34$1.87$0.17$-3.20$-1.75

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (tap or hover a figure to see how it was calculated or what was filed). Full details: where the numbers come from.

Balance sheet (as reported)

 FY2025FY2024FY2023FY2022FY2020
Cash and equivalents$42.3M$40.8M$34.2M$44.7M$61.8M
Current assets—————
Total assets$2.73B$2.75B$2.41B$2.68B$4.44B
Current liabilities—————
Long-term debt$2.17B$2.21B$1.89B$2.00B$1.18B
Total liabilities$2.36B$2.43B$2.08B$2.31B
Total equity$364.7M$312.9M$330.6M$367.1M$534.3M

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (tap or hover a figure to see how it was calculated or what was filed). Full details: where the numbers come from.

Cash flow (as reported)

 FY2025FY2024FY2023FY2022FY2020
Operating cash flow$249.7M$202.2M$183.5M$208.2M$133.4M
Capital expenditure—————
Free cash flow—————

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (tap or hover a figure to see how it was calculated or what was filed). Full details: where the numbers come from.

Quarterly trend

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q2 FY2026$146.5M4.0%$46.4M$1.47
Q1 FY2026$146.0M3.0%$46.5M$1.48
Q4 FY202518.8%
Q3 FY2025$139.3M11.3%$75.4M$2.38
Q2 FY2025$140.9M8.7%$2.8M$0.08
Q1 FY2025$141.8M9.8%$8.8M$0.27
Q4 FY2024-5.7%
Q3 FY2024$125.1M-3.3%$16.2M$0.52

Latest 8 quarters, from company XBRL filings on SEC EDGAR. A dotted underline marks a fourth-quarter figure we calculated from the full year and the first nine months. Revenue YoY is our calculation too: each quarter against the same quarter a year earlier.

Company facts

ExchangeNYSE
SectorReal Estate
SIC industryReal Estate Investment Trusts
Latest annual periodFY2025 (ended December 31, 2025)
Latest reported quarterQ2 FY2026 (ended June 30, 2026)
Oldest indexed filing2014
SEC CIK910612

Selected SEC filings

10-K2026-03-03
View on EDGAR →
10-Q2026-08-07
View on EDGAR →
10-Q2026-05-08
View on EDGAR →
8-K2026-08-07
View on EDGAR →
8-K2026-05-26
View on EDGAR →
8-K2026-05-08
View on EDGAR →
8-K2026-04-02
View on EDGAR →

Largest reit peers

All reit stocks →All Real Estate companies →

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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.