CBL & Associates Properties, Inc. (CBL)

NYSEReal EstateReit - RetailSnapshot 2026-10-23

$49.91+0.16%

Close 2026-10-23 · 1-day change

Investment OutlookAs of Oct 24, 2026

What could strengthen or challenge CBL & Associates Properties, Inc.’s outlook?

The long-term thesis, the evidence coming in, and the environment around it. Thesis dated Jul 8, 2026.

Higher potential upsideImproving expectations

Next-FY EPS estimate change · 30 days

Comparable estimates unavailable

+10% or more+5%0%−5%−10% or less

A matching fiscal period and sufficient coverage are required.

Higher risk of downsideWeakening expectations

One observable signal. This measures changing earnings expectations, not the probability of a gain or loss.

How this is measured

The calculation requires same-period, same-provider snapshots, positive EPS, at least five analysts and a baseline within three days of the requested lookback.

Measure / period	Management expectations	Analyst expectations
FY 2026 · Annual
Revenue	—	586M
EPS	—	3.24
Adjusted FFO per share	$7.15–$7.25non-GAAP	—
FY 2027 · Annual
Revenue	—	581.76M
EPS	—	0

What the Thesis Depends On

Three published thesis conditions, with dated milestones shown separately.

Key Factor	Why It Matters	Current Status	Break Condition	Latest Evidence
Refinance and reduce overall debt	A primary condition in CBL & Associates Properties, Inc.'s published investment case. The stated target is reduce debt by >= $33 million.	Intact	debt reduction stalls or reverses next year	Direct metric needs a verified mapping The published measure or accounting basis is not supported by an exact source binding. Source date unavailableLast status assessment Oct 24, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.
Maintain positive net income trajectory	CBL is growing net income from $2.8M to $46.5M in one year.	Intact	net income falls below $30 million next year	Net income: $46.444M FY2026-Q2; GAAP. Published target: net income >= $46.5 million. The stored target says 2026-Q1; this source reports FY2026-Q2. Fiscal/calendar alignment needs review. Source published Aug 7, 202646,444,000 USD · source valueSource reportLast status assessment Oct 24, 2026 Measurement source consolidated · GAAP FY2026-Q2 · Period ending Jun 30, 2026 Source: company_financial_results. Reference: 31bf625d-7311-462c-b948-97059ac87a2b. Source status: eligible. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.
Achieve stable same-center NOI	Same-center NOI is stabilizing, with guidance up to 1.25% growth.	Intact	same-center NOI growth falls below -0.5% in 2026	Direct metric needs a verified mapping The published measure or accounting basis is not supported by an exact source binding. Source date unavailableLast status assessment Oct 24, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.

Stored thesis · Jul 8, 2026. Latest Evidence uses source-matched measurements where available, alongside the last thesis-monitor assessment. Source periods and assessment dates are shown separately. A new measurement does not automatically change the published status or verify an older target.

Incoming Evidence

Compare these dated observations with the operating requirements above

Expectations trend

Same fiscal period

FY2027 · fiscal year ending 2027-12-31 · fmp

FY2027 EPS: comparable history unavailable.

FY2027 revenue: comparable history unavailable.

Exact estimates & source dates

One fiscal period and provider throughout. At least five contributors are required for each plotted metric; missing coverage stays a gap. Axes show the observed range. Counts measure coverage, not revisions.

FY2027 estimate observations · fmp
Snapshot	EPS	Revenue	EPS / revenue analysts
2026-07-24	Unavailable	Unavailable	0 / 1
2026-07-25	Unavailable	Unavailable	0 / 1
2026-07-26	Unavailable	Unavailable	0 / 1
2026-07-27	Unavailable	Unavailable	0 / 1
2026-07-28	Unavailable	Unavailable	0 / 1
2026-07-29	Unavailable	Unavailable	0 / 1
2026-07-30	Unavailable	Unavailable	0 / 1
2026-07-31	Unavailable	Unavailable	0 / 1
2026-08-01	Unavailable	Unavailable	0 / 1
2026-08-02	Unavailable	Unavailable	0 / 1
2026-08-03	Unavailable	Unavailable	0 / 1
2026-08-04	Unavailable	Unavailable	0 / 1
2026-08-05	Unavailable	Unavailable	0 / 1
2026-08-06	Unavailable	Unavailable	0 / 1
2026-08-07	Unavailable	Unavailable	0 / 1
2026-08-08	Unavailable	Unavailable	0 / 1
2026-08-09	Unavailable	Unavailable	0 / 1
2026-08-10	Unavailable	Unavailable	0 / 1
2026-08-11	Unavailable	Unavailable	0 / 1
2026-08-12	Unavailable	Unavailable	0 / 1
2026-08-13	Unavailable	Unavailable	0 / 1
2026-08-14	Unavailable	Unavailable	0 / 1
2026-08-15	Unavailable	Unavailable	0 / 1
2026-08-16	Unavailable	Unavailable	0 / 1
2026-08-17	Unavailable	Unavailable	0 / 1
2026-08-18	Unavailable	Unavailable	0 / 1
2026-08-19	Unavailable	Unavailable	0 / 1
2026-08-20	Unavailable	Unavailable	0 / 1
2026-08-21	Unavailable	Unavailable	0 / 1
2026-08-22	Unavailable	Unavailable	0 / 1
2026-08-23	Unavailable	Unavailable	0 / 1
2026-08-24	Unavailable	Unavailable	0 / 1
2026-08-25	Unavailable	Unavailable	0 / 1
2026-08-26	Unavailable	Unavailable	0 / 1
2026-08-27	Unavailable	Unavailable	0 / 1
2026-08-28	Unavailable	Unavailable	0 / 1
2026-08-29	Unavailable	Unavailable	0 / 1
2026-08-30	Unavailable	Unavailable	0 / 1
2026-08-31	Unavailable	Unavailable	0 / 1
2026-09-01	Unavailable	Unavailable	0 / 1
2026-09-02	Unavailable	Unavailable	0 / 1
2026-09-03	Unavailable	Unavailable	0 / 1
2026-09-04	Unavailable	Unavailable	0 / 1
2026-09-05	Unavailable	Unavailable	0 / 1
2026-09-06	Unavailable	Unavailable	0 / 1
2026-09-07	Unavailable	Unavailable	0 / 1
2026-09-08	Unavailable	Unavailable	0 / 1
2026-09-09	Unavailable	Unavailable	0 / 1
2026-09-10	Unavailable	Unavailable	0 / 1
2026-09-11	Unavailable	Unavailable	0 / 1
2026-09-12	Unavailable	Unavailable	0 / 1
2026-09-13	Unavailable	Unavailable	0 / 1
2026-09-14	Unavailable	Unavailable	0 / 1
2026-09-15	Unavailable	Unavailable	0 / 1
2026-09-16	Unavailable	Unavailable	0 / 1
2026-09-17	Unavailable	Unavailable	0 / 1
2026-09-18	Unavailable	Unavailable	0 / 1
2026-09-19	Unavailable	Unavailable	0 / 1
2026-09-20	Unavailable	Unavailable	0 / 1
2026-09-21	Unavailable	Unavailable	0 / 1
2026-09-22	Unavailable	Unavailable	0 / 1
2026-09-23	Unavailable	Unavailable	0 / 1
2026-09-24	Unavailable	Unavailable	0 / 1
2026-09-25	Unavailable	Unavailable	0 / 1
2026-09-26	Unavailable	Unavailable	0 / 1
2026-09-27	Unavailable	Unavailable	0 / 1
2026-09-28	Unavailable	Unavailable	0 / 1
2026-09-29	Unavailable	Unavailable	0 / 1
2026-09-30	Unavailable	Unavailable	0 / 1
2026-10-01	Unavailable	Unavailable	0 / 1
2026-10-02	Unavailable	Unavailable	0 / 1
2026-10-03	Unavailable	Unavailable	0 / 1
2026-10-04	Unavailable	Unavailable	0 / 1
2026-10-05	Unavailable	Unavailable	0 / 1
2026-10-06	Unavailable	Unavailable	0 / 1
2026-10-07	Unavailable	Unavailable	0 / 1
2026-10-08	Unavailable	Unavailable	0 / 1
2026-10-09	Unavailable	Unavailable	0 / 1
2026-10-10	Unavailable	Unavailable	0 / 1
2026-10-11	Unavailable	Unavailable	0 / 1
2026-10-12	Unavailable	Unavailable	0 / 1
2026-10-13	Unavailable	Unavailable	0 / 1
2026-10-14	Unavailable	Unavailable	0 / 1
2026-10-15	Unavailable	Unavailable	0 / 1
2026-10-16	Unavailable	Unavailable	0 / 1
2026-10-17	Unavailable	Unavailable	0 / 1
2026-10-18	Unavailable	Unavailable	0 / 1
2026-10-19	Unavailable	Unavailable	0 / 1
2026-10-20	Unavailable	Unavailable	0 / 1
2026-10-21	Unavailable	Unavailable	0 / 1
2026-10-22	Unavailable	Unavailable	0 / 1
2026-10-23	Unavailable	Unavailable	0 / 1
2026-10-24	Unavailable	Unavailable	0 / 1

Revenue and EPS estimates track expectations. They are not delivered results or like-for-like proof of a required annual path.

Compare required revenue and earnings

Analyst view

Monthly observations

Buy / Strong BuyHoldSell / Strong Sell

Exact monthly counts

Monthly rating snapshots · fmp. Missing snapshots are not zero.
Date	Buy*	Hold	Sell*
2026-05-01	2	0	0
2026-06-01	2	0	0
2026-07-01	2	0	0
2026-08-01	2	0	0
2026-09-01	2	0	0
2026-10-01	2	0	0

*Buy includes Strong Buy; Sell includes Strong Sell. Monthly counts describe the analyst mix, not the firms behind each recent action.

Latest: 2 Buy / Strong Buy · 0 Hold · 0 Sell / Strong Sell

0 upgrades0 downgrades0 maintains

Recent actions · Sep 25–Oct 24 · 0 recorded

Price-target changes

30 days

Individual price-target observations are unavailable.

0 raises · 0 cuts · 0 unchanged · 0 without a comparable prior

How this is measured

Sep 25, 2026–Oct 24, 2026. Each firm's latest positive target is paired only with its immediately prior positive target from the same provider, at most 180 days earlier. Unmatched observations have one dot; conflicting observations are not compared.

Outlook in Brief

The evidence, the remaining questions, and what comes next

What's improving

No recovery evidence is reported in the available driver assessments.

Still unresolved / key risks

Refinance and reduce overall debtDirect metric needs a verified mapping
Maintain positive net income trajectoryNet income: $46.444M
Achieve stable same-center NOIDirect metric needs a verified mapping

Next proof point

Nov 5, 2026

Look for updated results and guidance against the published targets, plus direct evidence for unresolved drivers.

Review earnings

Bottom line

3 of 3 published conditions remain under pressure or need verification. The next results need to address those conditions.

The dated weekly assessment and its assumptions are available in Read detailed Outlook.

Historical risk context

Observed price history; separate from operating scenarios

Price sensitivity

1.2%Typical daily move · historical

Downside history

-20.3%Maximum drawdown · trailing year

Read detailed Outlook Company context, assumptions & risks

CBL & Associates Properties, Inc. outlook in detail

The weekly editorial context below is a separate assessment from the dated monitor evidence above. Recovery observations do not automatically change the published thesis. Unverified outside influences are hypotheses, not measured driver evidence.

Updated Oct 24, 2026

What kind of bet this is

CBL is a value-oriented real estate business with a recovery and operating-improvement element. Its long-term thesis is intact, and the recent signal has shifted from mixed to mildly favorable, though management execution is rated neutral and confidence in the evidence is medium.

What's priced into CBL & Associates Properties, Inc.

CBL is described as cheap versus peers, with a negative expectations gap, suggesting market expectations are below the model’s outlook. Pricing fragility is low, but the available evidence does not specify what earnings or operating results the market assumes.

What the fundamentals likely do

Near term, same-center net operating income growth, improving occupancy, leasing activity, and refinancing progress support the business, though the latest priority status is mixed for operations and debt. The dividend increase is on track, but the sector backdrop is a headwind and earnings surprises have been erratic. A guidance cut on the next call would be a meaningful risk.

What CBL & Associates Properties, Inc. hinges on

Over the next few quarters, the thesis depends on continued leasing and occupancy progress, sustained income growth, and the ability to refinance debt while improving cash flow. Fed rate cuts or continued strong results from sector peers could help the backdrop; weaker guidance could undermine the current operating case.