CBL & Associates Properties Inc. on Tuesday reported progress in its financial performance as the company focused on revenue growth and cost controls in the third quarter.
Shares for the Chattanooga-based shopping center company neared a 52-week high, rising Tuesday to $16.57 before closing at $16.48, up 39 cents. Its high a year ago was $16.59 a share.
After the market’s close, the real estate investment trust that owns Hamilton Place posted quarterly earnings that beat analyst estimates.
Funds from operations allocable for common shareholders was $65 million, or 47 cents a share, topping the estimate of 44 cents in the quarter. FFO in the same quarter a year ago was 50 cents a share.
Stephen D. Lebovitz, CBL’s chief executive, said occupancy rose, leasing spreads improved and it recorded healthy growth in same-center net operating income.