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CBL - CBL Dividend Suspension Has Minimal Impact On Fundamental Value
CBL & Associates Properties Inc.
CBL Properties (CBL) put out a press release announcing the suspension of dividends on both common and preferred stocks through the end of 2020. The preferreds dropped about 40% on this news. Was this reaction appropriate and what impact does this move have on fundamental value? This article will explore the investment outlook for CBL preferreds.
Fundamental impact
Preferred dividend suspensions are rather rare among REITs, so many investors may not be aware of all the mechanics of the situation. Thus, we shall begin with a quick overview.