AlphaMadera's AlphaVal page computes CBL & Associates Properties, Inc.'s fair value using a multi-method blend (DCF, comparable-multiples, and Graham-style intrinsic value), then compares it to the current market price to flag CBL as undervalued, fairly valued, or overvalued.

What is CBL & Associates Properties, Inc.'s fair value?

Fair value for CBL is a model output combining discounted cash flow projections, peer-group multiples, and a Graham number floor. The live AlphaVal page shows the blended fair value alongside each method's individual estimate.

How does AlphaMadera value CBL?

AlphaVal uses three primary techniques: a five-year discounted-cash-flow projection with terminal multiple, peer-group multiple analysis (P/E, EV/EBITDA, P/S), and Graham's defensive-investor intrinsic-value formula. Inputs come from CBL's most recent reported fundamentals.

CBL - CBL & Associates Properties, Inc.

Price: -- -- | CONSENSUS: Hold DETAILS

AlphaVal

Deterministic, archetype-aware fair value

Real Estate Investment Trust 85% confidence

Primary model: P/FFO × Retail REIT Multiple

Valuation Signal Undervalued Strong

Trading 66.8% below fair value

Current Price $47.23

Bear Case $114.34 142.1% upside ($114.34 - $47.23) / $47.23 = 142.1% $9.73 FFO × 16x

Fair Value $142.33 201.4% upside ($142.33 - $47.23) / $47.23 = 201.4% $9.73 FFO × 20x

Bull Case $170.32 260.6% upside ($170.32 - $47.23) / $47.23 = 260.6% $9.73 FFO × 23x

Adjust Assumptions

P/FFO Multiple

19.5x

FFO per Share

9.73$

Key Value Driver

FFO/share ($9.73) × retail P/FFO multiple

Implied Market Multiple 4.9x

Plain-Language Summary

At $9.73 FFO/share with a 20x retail REIT multiple, the base-case value is $142.33 per share. Dividend yield: 3.6%. DDM cross-check: $31.68.

Warnings

⚠ Standard profit figures are misleading for real estate companies — large non-cash accounting charges make profits look artificially low. Dividend yield and funds from operations are better measures.

ℹ Dividend-based valuation: $31.68 (78% below our primary estimate). Large gaps suggest the dividend may not fully reflect the company's value.

Key Risks

P/E and EV/EBITDA are structurally wrong for REITs — use P/FFO and NAV
Interest rate sensitivity: REIT multiples compress when rates rise
FFO approximation (NI + D&A) may include gains on property sales — verify