CBL Properties Announces A $25M Stock Repurchase Plan
Portfolio Pulse from Benzinga Newsdesk
CBL Properties (NYSE:CBL) has announced a stock repurchase program, authorizing the company to buy up to $25 million of its common stock. The company plans to repurchase shares from time to time on the open market, in privately negotiated transactions or otherwise, depending on market prices and other conditions. The repurchase program may be suspended or discontinued at any time at the company's discretion.
August 10, 2023 | 12:40 pm
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POSITIVE IMPACT
CBL Properties' announcement of a $25 million stock repurchase program could potentially increase the stock's price in the short term.
Stock repurchase programs are typically seen as a positive signal by the market, as they indicate that the company believes its stock is undervalued. This can lead to increased demand for the stock, potentially driving up the price in the short term.
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