Professional
Added to YB: 2025-04-11
Pitch date: 2025-04-08
CBL [neutral]
CBL & Associates Properties, Inc.
+98.23%
current return
Author Info
Alluvial Capital is an investment manager with a focus on overlooked and obscure securities around the world. Sign up for the newsletter.
Company Info
CBL & Associates Properties, Inc. owns and manages a national portfolio of market-dominant properties located in dynamic and growing communities.
Market Cap
$1.2B
Pitch Price
$20.69
Price Target
N/A
Dividend
4.76%
EV/EBITDA
8.83
P/E
8.72
EV/Sales
5.69
Sector
Retail REITs
Category
value
The Roller Coaster - CBL & Associates Properties, Inc.
CBL (quick pitch): Mall owner post-bankruptcy, focusing on debt reduction, non-core asset sales, and shareholder returns. Stock down on consumer spending/leverage fears. Trading at cash + unencumbered property value ($9/share cash, $14/share from $66M 2024 NOI at 15% yield), ignoring JV and term loan-encumbered property value.
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