CBL Properties authorizes new $25 million stock repurchase program

CBL Properties (NYSE: CBL) announced its board of directors authorized a new $25 million stock repurchase program, replacing an existing program that was set to expire.

Under the previous program authorized in May 2025, the company acquired 248,590 shares for $7.3 million. The new program allows CBL to repurchase shares through November 5, 2026.

"Replenishing the program allows us to allocate additional capital to capture an attractive investment opportunity when our stock is trading at a significant discount," said Stephen Lebovitz, chief executive officer.

The company plans to repurchase shares on the open market, in privately negotiated transactions, or through other methods depending on market conditions and regulatory compliance. The timing and size of purchases will depend on factors including share price and market conditions.

CBL noted the repurchase program does not obligate the company to acquire any specific amount of shares and may be suspended or discontinued at management's discretion.

The Chattanooga-based real estate investment trust owns and manages 88 properties totaling 53.9 million square feet across 22 states, including enclosed malls, outlet centers, and lifestyle retail centers.

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