Here's Why CBL & Associates Properties Is Plunging Today

Here's Why CBL & Associates Properties Is Plunging Today

CBL & Associates Properties (NYSE: CBL), a real estate investment trust, or REIT, that owns a portfolio of 119 properties, mostly retail-oriented, reported third-quarter earnings that disappointed investors. As of 10:30 a.m. EDT on Friday, November 3, the first trading day after the announcement, the stock had plunged by more than 25%.

The results were pretty terrible all around. FFO and adjusted FFO (the REIT version of "earnings") dropped by 7.1% and 12.3% year over year, respectively, and portfolio occupancy declined by 40 bps from the same quarter in 2016.

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Source: Fool.com