CBL Dividend Suspension Has Minimal Impact On Fundamental Value

About: CBL & Associates Properties, Inc. (CBL)
by: Dane Bowler
This article is exclusive for subscribers.
Dane Bowler
Value, hedge fund analyst, REITs, long/short equity

CBL's dividend suspension resulting in a major selloff in the REIT's preferreds.

We see this reaction as overblown.

The preferreds will accrue dividends and according to our analysis eventually, get paid in full.

CBL Properties (CBL) put out a press release announcing the suspension of dividends on both common and preferred stocks through the end of 2020. The preferreds dropped about 40% on this news. Was