REIT boardRanked among REITs, not on the main board. A REIT's earnings are dominated by depreciation on assets that typically appreciate, so net margin and return on assets understate it against an operating company.
AI-extracted from the 10-Q filed 2026-08-07 — Q2 FY2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
CBL grew Q2 FY2026 revenue 4% YoY to $146.5M and lifted occupancy to 90.4%, but three property loans totaling $106.6M sit in receivership amid ongoing maturity defaults at Parkdale Mall and Arbor Place.
Biggest Revenue Drivers
Rental revenues$142.0M+4% YoY
Acquisition of four malls (July 2025) and one mall (March 2026) added $11.6M, partially offset by $6.4M lost from properties sold/deconsolidated; comparable-property rents up $0.9M.
Other revenues$3.3M+7% YoY
Biggest Revenue Drivers
Total revenue: $146.5M+4% YoY
Rental revenues$142.0M+4% YoY
Acquisition of four malls (July 2025) and one mall (March 2026) added $11.6M, partially offset by $6.4M lost from properties sold/deconsolidated; comparable-property rents up $0.9M.
Other revenues$3.3M+7% YoY
Management, development and leasing fees$1.2M-15% YoY
Largest Expense Items
Depreciation and amortization$36.3M-9% YoY
Decrease driven by tenant improvement/in-place lease intangibles from 2021 fresh-start accounting becoming fully amortized, plus dispositions, partly offset by $5.0M added from mall acquisitions.
Property operating$25.8M+9% YoY
Increase driven by mall acquisitions ($2.6M) and higher repair/maintenance and payroll costs at comparable properties, partly offset by $1.4M decrease from dispositions/deconsolidations.
General and administrative$14.8M-3% YoY
Real estate taxes$14.1M-6% YoY
Margins: Same-center NOI rose 1.5% YoY to $97.7M on higher minimum and percentage rents, partly offset by higher property repair/maintenance and payroll costs and an unfavorable uncollectable-revenue estimate.
Watch Items from the Filing
$441.9M of total pro rata debt matured or matures in 2026; $106.6M of that relates to three property loans (Jefferson Mall, Outlet Shoppes at Gettysburg, Southpark Mall) already in receivership, with Parkdale Mall/Crossing and Arbor Place also in maturity default.
Board paid a special dividend of $0.175/share in Q2 on top of the $0.625 regular dividend, citing improved cash flow following refinancing of the $634.0M secured term loan.
Total portfolio occupancy improved to 90.4% from 88.8% a year earlier, with malls up to 88.3% from 86.2%.
Twelve properties (including Arbor Place, Brookfield Square, Eastland Mall, Parkdale Mall/Crossing, Southpark Mall) are designated non-core/Excluded Properties, signaling further potential defaults or dispositions.
Variable-rate debt fell to 11.1% of total pro rata debt from 28.7% at December 31, 2025, reducing interest-rate sensitivity.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
About CBL & ASSOCIATES PROPERTIES INC (CBL): stock profile, AI score and financials
CBL & ASSOCIATES PROPERTIES INC (CBL) stock profile, AI quality score, and SEC EDGAR financial data, a Real Estate sector company. 13F Pro's AI-powered ranking engine scores CBL at 64.3/100 on a composite quality score built from its SEC filings, placing it at rank #40 of 148 stocks — the top half of the AI-ranked universe. Based on the latest XBRL financial filings (Q2 2026), CBL & ASSOCIATES PROPERTIES INC reports quarterly revenue of $146.5M, net income of $46.4M. CBL trades on the NYSE exchange and files with the SEC under CIK 910612. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate CBL daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for CBL & ASSOCIATES PROPERTIES INC directly from SEC EDGAR.