Canyon Capital sold 1,050,000 CBL shares at $46.44; retains 7,416,294 shares post-sale
Canyon Capital Advisors LLC reduced its stake in CBL & Associates Properties Inc by 1,050,000 shares (-12.4% vs pre-transaction holdings of 8,466,294 shares), raising $48,762,000.00 at a transaction price of $46.44 on 2026-05-22. The sale occurs within the 52-week range ($24.03–$48.64) near recent highs (-3.0% from 52-week high), while the stock has posted strong momentum over both 30 days (+6.4%) and 90 days (+24.2%). CBL shows solid fundamentals with P/E of 8.41 and recent quarterly net income of $46,487,000.00 against revenue of $145,968,000.00, supported by annual revenue growth of +12.2%. The significant divestiture—reducing but not exiting the position—merits monitoring to determine whether this signals a change in conviction or reflects liquidity management within a otherwise stable holding.