Microsoft strongly encourages users to switch to a different browser than Internet Explorer as it no longer meets modern web and security standards. Therefore we cannot guarantee that our site fully works in Internet Explorer. You can use Chrome or Firefox instead.

Here's Why CBL & Associates Properties Is Plunging Today

TheMotleyFool

0 0

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.

Image source: Getty Images.

Source: Fool.com