CBL & Associates Properties announced its Board of Directors has authorized a new common stock repurchase program, allowing the company to buy back up to $25.0 million of its common stock. This new plan, which replaces a prior program from 2025, is supported by a strong balance sheet and management's belief that the company's shares are undervalued.
Key Details
- Authorization Amount: The program authorizes the repurchase of up to $25.0 million of the company's common stock.
- Program Timeline: The plan is effective as of November 4, 2026, and is authorized through December 31, 2027.
- Company Rationale: Management cited a strong financial position, including a cash balance of over $366.0 million and no major debt maturities until 2028, as enabling the buyback.