CBL & Associates Properties (CBL) Presents At Wells Fargo 21st Annual Real Estate Securities Conference - Slideshow

The following slide deck was published by CBL & Associates Properties, Inc. in conjunction with this event.

Comments

[avandall]

like the direction they are taking...keep that DIVVY for all of 2018 😁👍🆗

[Phoenix_investor]

One catalyst is the .80 received in dividends throughout the year and the $60 million gain in the Fall when the Acadiana Mall is turned over to the lenders which extinguishes a $122 million loan. That loan alone represents about 7% of the secured debt.

[LT AUS]

Beyond the Acadiana Mall you reference how many other similar opportunities does CBL have to return underperforming malls to lenders?

[Phoenix_investor]

All the malls are listed on P. 155 ofof.

[Phoenix_investor]

P. 155 of the 10K. The debt and
current cost less the depreciation show most properties are not impaired.

[tyler.freeborn]

It's interesting that they only identify about $42M in current projects, well below budget. Given their cash flow, they have about $130M available after debt principal payments, a good cushion for tenant problems, like a Sears filing.

The big issue of course is whether that "stable" performance continues with two down years in a row on those nice charts, 2017 and a weaker 2018. If management is right, those charts will turn back up in 2019, but it's going to be a long, hard year, with little in the way of catalysts to boost the market price.