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Curbline Properties Corp.
(NYSE:CURB)
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Rating:72Outperform
Price Target:
$34.00
▲(20.44% Upside)
Action:Reiterated
Date:07/02/26
CURB scores well on fundamentals, driven by strong cash generation, solid margins, and positive earnings-call momentum including raised OFFO guidance and strong liquidity/pipeline visibility. Technicals are supportive with a clear uptrend and moderate momentum. The biggest offset is valuation, with an exceptionally high P/E that increases downside sensitivity if growth or NOI trends soften.
Positive Factors
Strong cash generation
Robust operating cash flow (~$120.6M TTM) that materially exceeds net income (OCF to net income ~1.88x) indicates high earnings quality and internal funding capacity. This durable cash generation supports acquisitions, capital spending and dividends with less reliance on costly external financing over the medium term.
Negative Factors
Granular acquisition execution risk
Relying on many single-asset acquisitions raises persistent execution risk: higher transaction costs, underwriting variability, and operational complexity from frequent closings. Over months this can slow realized growth, increase integration burdens, and elevate the chance that projected returns or timing do not materialize.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash generation
Robust operating cash flow (~$120.6M TTM) that materially exceeds net income (OCF to net income ~1.88x) indicates high earnings quality and internal funding capacity. This durable cash generation supports acquisitions, capital spending and dividends with less reliance on costly external financing over the medium term.
Read all positive factors
Curbline Properties Corp. (CURB) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$3.46B
Dividend Yield3.13%
Average Volume (3M)793.63K
Price to Earnings (P/E)97.9
Beta (1Y)0.48
Revenue Growth54.10%
EPS Growth154.17%
CountryUS
Employees39
SectorGeneral
Sector StrengthN/A
IndustryREIT - Retail
Share Statistics
EPS (TTM)0.31
Shares Outstanding114,037,650
10 Day Avg. Volume1,175,760
30 Day Avg. Volume793,626
Financial Highlights & Ratios
PEG Ratio0.20
Price to Book (P/B)1.28
Price to Sales (P/S)13.32
P/FCF Ratio19.56
Enterprise Value/Market Cap1.00
Enterprise Value/Revenue17.10
Enterprise Value/Gross Profit22.84
Enterprise Value/Ebitda25.38
Forecast
1Y Price Target
$31.92Price Target Upside13.06% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering8
EPS Forecast (FY)0.16
Revenue Forecast (FY)$233.47M
Curbline Properties Corp. Business Overview & Revenue Model
Company Description
Curbline Properties is the owner and manager of convenience shopping centers. It is positioned on the curbline of well-trafficked intersections and major vehicular corridors in suburban, high household income communities. The Company is a self-man...
How the Company Makes Money
null...
Curbline Properties Corp. Earnings Call Summary
Earnings Call Date:Apr 28, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 28, 2026
Earnings Call Sentiment Positive
The call presented strong operational and financial momentum: materially higher NOI (sequential +3%, YoY >50%), robust leasing activity, continued portfolio growth and a raised OFFO guidance (~14% midpoint growth). Management highlighted deep liquidity (> $700M), high occupancy (96.3%) and attractive going-in returns (low-6% cap rates, unlevered IRR 7%–9%), which together point to a positive growth trajectory. Near-term headwinds include an expected ~300 bps Q2 same-property NOI drag from timing of CapEx and bad-debt comparisons, some noncash accounting volatility and the usual execution risk on a highly granular acquisition pipeline. Overall, the positives (strong balance sheet, clear pipeline visibility, raised guidance and outsized YoY NOI growth) outweigh the near-term operational and accounting challenges.Positive Updates
Raised 2026 Investment Target
Increased full-year 2026 acquisition target to $850 million from $750 million (up $100M, +13.3%), driven by elevated deal flow, off-market opportunities and inbound seller interest.
Negative Updates
Second-Quarter Same-Property NOI Headwind
Management expects an almost 300 basis point headwind to same-property NOI growth in Q2 due to the timing of 2025 CapEx spending and a difficult uncollectible revenue comparison, driving a meaningful near-term deceleration.
Read all updates
Q1-2026 Updates
Positive
Negative
Raised 2026 Investment Target
Increased full-year 2026 acquisition target to $850 million from $750 million (up $100M, +13.3%), driven by elevated deal flow, off-market opportunities and inbound seller interest.
Read all positive updates
Company Guidance
Curbline raised 2026 OFFO guidance to $1.20–$1.23 per share (midpoint ≈ 14% growth) based on assumptions of roughly $850 million of full‑year investments (up from $750M), a 3.25% cash return with interest income declining as cash is deployed, CapEx <10% of NOI (Q1 CapEx = 6.3% of NOI; trailing 12‑month = 7.3%), G&A of about $32 million (includes $1.1M Q1 SITE fees) and same‑property NOI growth of ~3% at the midpoint (vs. 3.3% in 2025 and 5.8% in 2024). Management cautioned Q2 will face an ~300 bps headwind to same‑property NOI from timing of 2025 CapEx and tough uncollectible revenue comps, with second‑half base rent growth averaging >4%. Near‑term moving pieces include interest expense rising to ~ $8.5M in Q2 from private placement funding, sequential noncash revenue down ≈ $0.5M, roughly flat G&A Q/Q, and an expected ~$0.01 per share OFFO drag from forward‑offering dilution (just under 1M unsettled shares in Q1). Balance‑sheet capacity cited to fund guidance: cash $306M, unsettled equity proceeds $371M, >$700M total immediate liquidity, and leverage of ~20%; management noted about $750M of the $850M pipeline is closed/under contract/awarded.Curbline Properties Corp. Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
70
Positive
Cash Flow
82
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 202.19M | 182.89M | 120.88M | 93.66M | 73.14M |
| Gross Profit | 151.38M | 136.95M | 93.28M | 71.75M | 57.76M |
| EBITDA | 136.22M | 124.74M | 53.09M | 64.53M | 53.98M |
| Net Income | 32.84M | 39.83M | 10.26M | 31.01M | 25.73M |
Balance Sheet | |||||
| Total Assets | 2.62B | 2.47B | 2.03B | 921.63M | 758.02M |
| Cash, Cash Equivalents and Short-Term Investments | 305.78M | 289.55M | 626.41M | 566.00K | 77.00K |
| Total Debt | 595.50M | 489.94M | 40.15M | 47.00M | 53.82M |
| Total Liabilities | 721.83M | 556.32M | 90.54M | 58.99M | 66.24M |
| Stockholders Equity | 1.89B | 1.91B | 1.94B | 862.64M | 691.78M |
Cash Flow | |||||
| Free Cash Flow | 120.60M | 124.60M | 54.26M | 59.24M | 49.88M |
| Operating Cash Flow | 120.60M | 124.60M | 54.26M | 59.24M | 49.88M |
| Investing Cash Flow | -827.70M | -803.25M | -437.40M | -186.02M | -323.46M |
| Financing Cash Flow | 418.84M | 341.79M | 1.01B | 126.91M | 273.33M |
Curbline Properties Corp. Technical Analysis
Positive
28.23
Price Trends
29.29
Positive
28.09
Positive
25.69
Positive
Market Momentum
0.27
Positive
53.19
Neutral
52.10
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CURB, the sentiment is Positive. The current price of 28.23 is below the 20-day moving average (MA) of 30.55, below the 50-day MA of 29.29, and above the 200-day MA of 25.69, indicating a neutral trend. The MACD of 0.27 indicates Positive momentum. The RSI at 53.19 is Neutral, neither overbought nor oversold. The STOCH value of 52.10 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CURB.
Curbline Properties Corp. Risk Analysis
Curbline Properties Corp. disclosed 51 risk factors in its most recent earnings report. Curbline Properties Corp. reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Curbline Properties Corp. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | $2.08B | 22.06 | 8.76% | 6.77% | 8.23% | 24.98% | |
76 Outperform | $2.77B | 24.85 | 6.10% | 3.26% | 9.91% | 518.94% | |
72 Outperform | $3.46B | 97.90 | 1.72% | 3.13% | 54.10% | 154.17% | |
69 Neutral | $2.90B | 69.63 | 2.03% | 3.83% | 9.83% | 80.92% | |
68 Neutral | $2.76B | 22.52 | 7.39% | 6.10% | 10.16% | 3.37% | |
63 Neutral | $2.09B | 173.19 | 0.78% | 4.61% | 20.51% | ― | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
CURB
Curbline Properties Corp.
30.33
8.10
36.42%
GTY
Getty Realty
34.41
8.89
34.84%
AKR
Acadia Realty
21.39
3.40
18.89%
FCPT
Four Corners Property
25.22
0.41
1.67%
IVT
InvenTrust Properties
35.33
9.15
34.97%
NTST
NETSTREIT
21.25
4.43
26.36%
Curbline Properties Corp. Corporate Events
Business Operations and StrategyPrivate Placements and Financing
Curbline Properties Announces Forward Equity Offering for Growth
Positive
Jul 1, 2026
On June 29, 2026, Curbline Properties Corp. and its operating partnership entered an underwriting agreement with major investment banks for a forward offering of 10,000,000 common shares, including a 30-day option for underwriters to buy up to 1,5...
Business Operations and StrategyExecutive/Board Changes
Curbline Properties enhances executive contracts and retention incentives
Positive
Jun 25, 2026
On June 25, 2026, Curbline Properties Corp. and its subsidiary Curbline TRS LLC amended and restated employment agreements with Executive Vice President, Chief Financial Officer and Treasurer Conor Fennerty and Executive Vice President, Chief Inve...
Business Operations and StrategyPrivate Placements and Financing
Curbline Properties Launches New $400 Million ATM Program
Neutral
Jun 2, 2026
On June 2, 2026, Curbline Properties Corp. and its operating partnership established a new at-the-market equity offering program of up to $400 million in common stock through a syndicate of major investment banks acting as sales agents, principals...
Executive/Board ChangesShareholder Meetings
Curbline Shareholders Back Directors, Audit Firm and Pay
Positive
May 8, 2026
On May 7, 2026, Curbline Properties Corp. held its annual meeting of stockholders, at which shareholders elected two Class II directors, Jane E. DeFlorio and Barry A. Sholem, to serve until the next annual meeting. Investors also ratified Pricewat...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.