CBL & Associates reports Q3 adjusted FFO $1.60 vs $1.85 last year

Reports Q3 revenue $129.351M vs $136.280M last year. “CBL posted solid results in the third quarter highlighted by same-center NOI growth of 40 basis points,” said Stephen D. Lebovitz, CBL’s chief executive officer. “The increase was primarily the result of contributions from occupancy improvements as well as expense savings. Operating expense is benefiting from a new lower third-party contract rate, as well as the timing of certain maintenance and repair items, several of which should impact the fourth quarter. As a result of the year-to-date performance and our expectations for the remainder of the year, we anticipate achieving full-year results near the mid-point of the FFO, as adjusted and same-center NOI guidance ranges.”