Curbline Properties reports Q1 operating FFO 28c, consensus 27c

Reports Q1 revenue $57.99M, consensus $55.22M. “Curbline’s first quarter results highlight the company’s strong start to the year with over $140M of acquisitions, an acceleration in same-property NOI growth from the fourth quarter to 4.8%, and almost $500M of private placement notes and common equity funded or raised. Given the company’s outperformance year-to-date, along with a growing investment pipeline, Curbline is raising its full year investment target and OFFO guidance range,” commented CEO David Lukes. “Looking forward, we believe Curbline remains uniquely positioned for growth given its differentiated investment focus, the leasing economics of the company’s property type, and its balance sheet.”