Definitive Analysis | Institutional-Grade Financial Research
Definitive Analysis
Get Full Access
See Pricing Start Free Trial

CBL & Associates Properties, Inc. (CBL)

Company Dividend Discount ModelIndustry: REIT - RetailSector: Real Estate

Valuation Snapshot

Stable Growth$16.16 - $21.47$18.91
Multi-Stage$34.58 - $38.07$36.29
Blended Fair Value$27.60
Current Price$25.39
Upside8.71%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS14.17%-13.38%1.633.820.770.000.000.845.917.317.307.29
YoY Growth---57.36%394.67%0.00%0.00%-100.00%-85.79%-19.22%0.14%0.13%6.55%
Dividend Yield--6.12%16.85%3.01%0.00%0.00%2.80%19.69%24.37%24.34%24.31%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)123.79
(-) Cash Dividends Paid (M)75.67
(=) Cash Retained (M)48.12
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)24.7615.479.28
Cash Retained (M)48.1248.1248.12
(-) Cash Required (M)-24.76-15.47-9.28
(=) Excess Retained (M)23.3632.6438.83
(/) Shares Outstanding (M)30.9330.9330.93
(=) Excess Retained per Share0.761.061.26
LTM Dividend per Share2.452.452.45
(+) Excess Retained per Share0.761.061.26
(=) Adjusted Dividend3.203.503.70
WACC / Discount Rate9.08%9.08%9.08%
Growth Rate-8.96%-7.96%-6.96%
Fair Value$16.16$18.91$21.47
Upside / Downside-36.36%-25.50%-15.43%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)123.79113.94104.8796.5288.8481.7684.22
Payout Ratio61.13%66.90%72.68%78.45%84.23%90.00%92.50%
Projected Dividends (M)75.6776.2376.2275.7274.8273.5977.90

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.08%9.08%9.08%
Growth Rate-8.96%-7.96%-6.96%
Year 1 PV (M)69.1269.8870.64
Year 2 PV (M)62.6764.0665.45
Year 3 PV (M)56.4658.3460.27
Year 4 PV (M)50.5952.8555.19
Year 5 PV (M)45.1247.6550.30
PV of Terminal Value (M)785.59829.69875.75
Equity Value (M)1,069.551,122.481,177.60
Shares Outstanding (M)30.9330.9330.93
Fair Value$34.58$36.29$38.07
Upside / Downside36.19%42.93%49.95%

High-Yield Dividend Screener

« Prev Page 4 of 151 Next »
Ticker Company Dividend Yield % Dividend Per Share Payout Ratio %
EG7.IRFBD Holdings plc12.49%$1.9761.47%
WILCG. Willi-Food International Ltd.12.48%$3.5852.70%
9908.HKJiaXing Gas Group Co., Ltd.12.44%$1.0240.94%
MPMX.JKPT Mitra Pinasthika Mustika Tbk12.44%$120.0095.84%
0QL5.LCarlo Gavazzi Holding AG12.42%$20.0062.49%
GOZ.AXGrowthpoint Properties Australia12.40%$0.3016.37%
1999.HKMan Wah Holdings Limited12.39%$0.5757.62%
1285.HKJiashili Group Limited12.38%$0.1455.24%
600015.SSHua Xia Bank Co., Limited12.36%$0.8549.77%
BNP.DEBNP Paribas S.A.12.28%$10.0751.11%
0836.HKChina Resources Power Holdings Company Limited12.20%$2.1541.97%
BIS.AXBisalloy Steel Group Limited12.19%$0.5981.88%
KBS.BKKhonburi Sugar Public Company Limited12.17%$0.7056.34%
9300.SRAlwaha REIT Fund12.14%$1.1871.67%
2005.HKSSY Group Limited12.13%$0.3550.50%
BGI-UN.TOBrookfield Global Infrastructure Securities Income Fund12.09%$0.9646.13%
2003.HKVCREDIT Holdings Limited12.07%$0.3218.47%
1713.HKSichuan Energy Investment Development Co., Ltd.12.02%$0.2941.35%
NSI.ASNSI N.V.12.02%$2.3330.60%
RIO1.DERio Tinto Group12.02%$8.2864.54%
IGL.AXIVE Group Limited12.01%$0.3574.81%
0G5B.LSto SE & Co. KGaA12.00%$14.6483.41%
CDU.LSConduril - Engenharia, S.A.12.00%$1.8069.00%
2156.HKC&D Property Management Group Co. Limited11.98%$0.3354.74%
0057.HKChen Hsong Holdings Limited11.94%$0.1945.38%
BBSE3.SABB Seguridade Participações S.A.11.93%$4.2691.94%
SWUT.VISW Umwelttechnik Stoiser & Wolschner AG11.93%$3.7034.18%
0Q76.LCBo Territoria S.A.11.92%$0.4461.80%
ALCOF.PACofidur S.A.11.92%$34.8038.87%
0239.HKPak Fah Yeow International Limited11.87%$0.2852.60%
2356.HKDah Sing Banking Group Limited11.87%$1.2941.19%
3311.HKChina State Construction International Holdings Limited11.87%$1.1029.31%
ENGI.PAEngie S.A.11.87%$2.7376.93%
SENA.BKSena Development Public Company Limited11.86%$0.2074.93%
4348.SRAlkhabeer REIT Fund11.85%$0.6698.08%
AWZ.SIMulti-Chem Limited11.83%$0.4160.70%
0331.HKFSE Lifestyle Services Limited11.81%$0.6731.73%
SUL.AXSuper Retail Group Limited11.78%$1.8791.92%
2877.HKChina Shineway Pharmaceutical Group Limited11.77%$1.0139.47%
DSWLDeswell Industries, Inc.11.77%$0.4027.95%
0855.HKChina Water Affairs Group Limited11.75%$0.6256.78%
0659.HKCTF Services Limited11.70%$0.8876.18%
DRA.AXDRA Global Limited11.69%$0.2158.65%
GWA.AXGWA Group Limited11.68%$0.2995.40%
0968.HKXinyi Solar Holdings Limited11.67%$0.3670.18%
ENI-UN.TOEnergy Income Fund11.66%$0.2356.38%
TCF.AX360 Capital Mortgage REIT11.66%$0.6776.18%
3316.HKBinjiang Service Group Co. Ltd.11.65%$2.7669.09%
CC3.SIStarHub Ltd11.65%$0.1381.69%
TFG-R.BKThaifoods Group Public Company Limited11.65%$0.5242.58%