CBL OUTLOOKFor 2012, CBL on Wednesday said it expects its funds from operations to total between $1.95 to $2.03 per share.
Stephen Lebovitz of CBLChattanooga shopping center developer CBL & Associates Properties Inc. posted higher profits last year and said Wednesday it’s poised for growth in a better operating, leasing and investment environment.
“Operating from a position of strength, we are capitalizing on this position in 2012 with our mall renovation and redevelopment program, additional outlet center projects…and other opportunities,” said CBL chief executive Stephen Lebovitz, in a statement.
CBL reported that funds from operations allocable to common shareholders for 2011 was $329.3 million, or $2.22 per share, compared with $287.5 million, or $2.08 per share in 2010.
In the fourth quarter, FFO allocable to common shareholders was $89 million, or 60 cents per diluted share, versus $86.3 million, or 62 cents per share, for the same quarter in 2010, the company reported in a news release after the stock market’s close.