CBL Stock Jumping on Q2 Beat, Guidance

NEW YORK (TheStreet) -- Shares of CBL & Associates Properties (CBL) are soaring 11.48% to $12.24 on heavy trading volume on Friday afternoon following the company's better-than-anticipated results for the 2016 second quarter.

After yesterday's closing bell, the Chattanooga, TN-based real estate investment trust reported adjusted funds from operations of 59 cents per share, above analysts' estimates of 56 cents per share.

Funds from operations is a key metric in the REIT industry, which takes net income and adds back items such as depreciation and amortization.

Revenue for the quarter was $254.97 million, topping Wall Street's expectations of $246.8 million.

For 2016, CBL sees funds from operations between $2.77 and $2.81 per share. Analysts are modeling funds from operations of $2.36 per share.

About 4.79 million of the company's shares were traded so far today vs. its average volume of 3.12 million shares per day.

Separately, TheStreet Ratings Team has a "Hold" rating with a score of C on the stock.

The primary factors that have impacted the rating are mixed. The company's strengths can be seen in multiple areas, such as its revenue growth, reasonable valuation levels and expanding profit margins.

But the team also finds weaknesses including deteriorating net income, disappointing return on equity and weak operating cash flow.

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: CBL