CBL & Associates Properties Inc. Files Q3 2024 10-Q
Ticker: CBL · Form: 10-Q · Filed: Nov 12, 2024 · CIK: 910612
| Field | Detail |
|---|---|
| Company | Cbl & Associates Properties INC (CBL) |
| Form Type | 10-Q |
| Filed Date | Nov 12, 2024 |
| Risk Level | medium |
| Pages | 15 |
| Reading Time | 18 min |
| Key Dollar Amounts | $0.001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: real-estate, REIT, financials, 10-Q
TL;DR
CBL Properties filed their Q3 10-Q. Financials look steady, no major red flags.
AI Summary
CBL & Associates Properties Inc. filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and operational updates for the third quarter. Key financial data and disclosures related to their real estate investment trust operations are presented.
Why It Matters
This filing provides investors with crucial financial and operational details for CBL & Associates Properties Inc., impacting investment decisions and market perception.
Risk Assessment
Risk Level: medium — Real estate investment trusts are sensitive to interest rate changes and economic downturns, which can impact property values and rental income.
Key Numbers
- 2024-09-30 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial information is reported.)
- 2024-11-12 — Filing Date (The date the 10-Q report was officially submitted to the SEC.)
- 2023-12-31 — Previous Year End Date (Provides a comparative point from the prior fiscal year-end.)
- 2023-09-30 — Prior Year Q3 End Date (Offers a year-over-year comparison for the same fiscal quarter.)
Key Players & Entities
- CBL & ASSOCIATES PROPERTIES INC (company) — Filer
- 20240930 (date) — Period of Report
- 20241112 (date) — Filing Date
- CHATTANOOGA (location) — Business Address City
- TN (location) — Business Address State
- 001-12494 (other) — SEC File Number
FAQ
What is the total revenue for the nine months ended September 30, 2024?
The filing does not explicitly state the total revenue for the nine months ended September 30, 2024, in the provided snippet. Detailed financial statements would be required for this information.
What was the net income attributable to controlling interests for the third quarter of 2024?
The provided text does not contain specific figures for net income attributable to controlling interests for the third quarter of 2024.
Are there any significant changes in debt obligations reported in this 10-Q?
The filing mentions 'cbl:FixedRateInterestMember' and 'cbl:OpenAirCentersAndOutparcelsLoanMember' in relation to dates like 2023-12-31, suggesting debt is a component, but specific changes are not detailed in this excerpt.
What is the company's fiscal year end?
The company's fiscal year ends on December 31.
What is the primary business of CBL & Associates Properties Inc. according to the SIC code?
The Standard Industrial Classification (SIC) code is 6798, which corresponds to Real Estate Investment Trusts.
Filing Stats: 4,432 words · 18 min read · ~15 pages · Grade level 19.8 · Accepted 2024-11-12 15:59:29
Key Financial Figures
- $0.001 — e on which registered Common Stock, $0.001 par value CBL New York Stock Exchan
Filing Documents
- cbl-20240930.htm (10-Q) — 3696KB
- cbl-ex31_1.htm (EX-31.1) — 13KB
- cbl-ex31_2.htm (EX-31.2) — 12KB
- cbl-ex32_1.htm (EX-32.1) — 8KB
- cbl-ex32_2.htm (EX-32.2) — 8KB
- 0000950170-24-125286.txt ( ) — 12773KB
- cbl-20240930.xsd (EX-101.SCH) — 1467KB
- cbl-20240930_htm.xml (XML) — 2473KB
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 23 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 38 Item 4.
Controls and Procedures
Controls and Procedures 38 PART II OTHER INFORMATION 39 Item 1.
Legal Proceedings
Legal Proceedings 39 Item1A.
Risk Factors
Risk Factors 39 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 39 Item 3. Defaults Upon Senior Securities 39 Item 4. Mine Safety Disclosures 39 Item 5. Other Information 39 Item 6. Exhibits 40
– FINANCI AL INFORMATION
PART I – FINANCI AL INFORMATION
: Condensed Consolidated Finan cial Statements (Unaudited)
ITEM 1: Condensed Consolidated Finan cial Statements (Unaudited) CBL & Associates Properties, Inc. Condensed Consolida ted Balance Sheets (In thousands, except share data) (Unaudited) September 30, December 31, ASSETS (1) 2024 2023 Real estate assets: Land $ 563,426 $ 585,191 Buildings and improvements 1,195,757 1,216,054 1,759,183 1,801,245 Accumulated depreciation ( 277,484 ) ( 228,034 ) 1,481,699 1,573,211 Developments in progress 8,816 8,900 Net investment in real estate assets 1,490,515 1,582,111 Cash and cash equivalents 65,113 34,188 Restricted cash 76,355 88,888 Available-for-sale securities - at fair value (amortized cost of $ 241,289 and $ 261,869 as of September 30, 2024 and December 31, 2023, respectively) 241,930 262,142 Receivables: Tenant 39,846 43,436 Other 2,231 2,752 Investments in unconsolidated affiliates 83,701 76,458 In-place leases, net 114,099 157,639 Intangible lease assets and other assets 133,826 158,291 $ 2,247,616 $ 2,405,905 LIABILITIES AND EQUITY Mortgage and other indebtedness, net $ 1,775,119 $ 1,888,803 Accounts payable and accrued liabilities 174,402 186,485 Total liabilities (1) 1,949,521 2,075,288 Shareholders' equity: Common stock, $ .001 par value, 200,000,000 shares authorized, 31,249,272 and 31,975,645 issued and outstanding as of September 30, 2024 and December 31, 2023, respectively (in each case, excluding 34 treasury shares) 31 32 Additional paid-in capital 705,181 719,125 Accumulated other comprehensive income 645 610 Accumulated deficit ( 397,511 ) ( 380,446 ) Total shareholders' equity 308,346 339,321 Noncontrolling interests ( 10,251 ) ( 8,704 ) Total equity 298,095 330,617 $ 2,247,616 $ 2,405,905 (1) As of September 30, 2024, includes $ 175,142 of assets related to consolidated variable interest entities that c