Total revenues increased 8.5% during the fourth quarter ended December 31, 2007, to $294,299,000 from $271,272,000 in the prior-year period. Total revenues increased 4.5% during the year ended December 31, 2007, to $1,040,627,000 from $995,502,000 in the prior year.
--Same-center net operating income ("NOI"), excluding lease termination fees for the fourth quarter ended December 31, 2007, increased by 0.9% over the prior-year period. NOI, excluding lease termination fees for the year ended December 31, 2007, increased by 1.7% over the prior year.
--Same-store sales growth for mall tenants of 10,000 square feet or less for stabilized malls for the year ended December 31, 2007, was flat at $346 per square foot compared with a 3.3% increase for the prior year.
--The debt-to-total-market capitalization ratio as of December 31, 2007, was 64.0% based on the common stock closing price of $23.91 and a fully converted common stock share count of 116,814,000 shares as of the same date. The debt-to-total-market capitalization ratio as of December 31, 2006, was 47.6% based on the common stock closing price of $43.35 and a fully converted common stock share count of 116,280,000 shares as of the same date.
--Consolidated and unconsolidated variable rate debt of $1,372,761,000 represents 14.1% of the total market capitalization for the Company and 22.0% of the Company's
share of total consolidated and unconsolidated debt.
This blog features observations from Randy Turner, a former teacher, newspaper reporter and editor. Send news items or comments to rturner229@hotmail.com
Thursday, February 07, 2008
Revenue up for Northpark Mall owner
Revenue for CBL & Associates, owner of Northpark Mall, Joplin, was up 8.5 percent in the fourth quarter and 4.5 percent for 2007, according to a company news release issued today. The news release lists the following highlights:
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