Oaktree Capital Group Holdings GP, LLC, a major stakeholder in CBL & Associates Properties Inc. (NYSE:CBL), reported a significant sale of common stock. According to a recent SEC filing, Oaktree Capital sold 1,000,000 shares at a price of $30.40 per share on December 5, 2024, totaling $30.4 million. This transaction leaves Oaktree Capital with a remaining 2,983,967 shares. The shares were directly held by OCM Xb CBL-E Holdings, LLC, which is managed indirectly by Oaktree Capital Holdings, LLC, and owned indirectly by Oaktree Capital Group Holdings GP, LLC. With a current market capitalization of approximately $968 million, CBL continues to attract investor attention. Discover 8 more exclusive InvestingPro Tips and comprehensive financial metrics to make informed investment decisions.
In other recent news, CBL Properties has reported several significant developments. The company disclosed its second-quarter financial results for the period ending June 30, 2024, offering insights into its operational status and financial health. Detailed earnings and supplemental financial information for the quarter are available in the public documents filed with the Securities and Exchange Commission.
In addition, CBL Properties has made strategic financial decisions to deliver value to its shareholders. This includes declaring a quarterly cash dividend of $0.40 per common share, reflecting an annual dividend payment rate of $1.60 per common share. The company also moved up the payment date for this dividend, demonstrating an effort to provide shareholders with the dividend payment earlier than initially planned.
Furthermore, the company completed a repurchase of 500,000 shares of its own stock, investing $12.525 million, a move outside of its previously announced stock repurchase program. CBL Properties also finalized the sale of two retail centers and nine outparcels in Layton, Utah, generating $28.5 million in cash. This sale contributed to a reduction in the principal balance on CBL's term loan to $730.8 million and its open-air and outparcel loan to $340.1 million. These recent developments underscore CBL Properties' commitment to its shareholders and its strategic approach to financial management.
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