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Curbline Properties Corp.
(NYSE:CURB)
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Rating:71Outperform
Price Target:
$32.00
â–²(6.24% Upside)
Action:Upgraded
Date:10/23/26
The score is driven primarily by solid fundamentals (strong cash generation and a conservatively positioned balance sheet) and a notably upbeat earnings outlook with raised OFFO guidance and visible growth catalysts. These positives are tempered by a stretched valuation (very high P/E) and mixed technical signals that suggest momentum is not consistently supportive.
Positive Factors
Strong cash generation
Consistently positive free cash flow, including conversion above net income in the latest period, supports earnings quality and internal funding capacity. This gives Curbline flexibility to maintain properties, pursue investments, and withstand operating variability without relying entirely on external capital.
Negative Factors
Profitability volatility
Lower recent margins and declining TTM net income despite revenue growth indicate that earnings conversion is not yet consistently stable. If this pattern persists, it could reduce the amount of revenue translating into shareholder returns and make reported profitability less predictable across periods.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash generation
Consistently positive free cash flow, including conversion above net income in the latest period, supports earnings quality and internal funding capacity. This gives Curbline flexibility to maintain properties, pursue investments, and withstand operating variability without relying entirely on external capital.
Read all positive factors
Curbline Properties Corp. (CURB) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$3.12B
Dividend Yield2.6%
Average Volume (3M)1.46M
Price to Earnings (P/E)97.6
Beta (1Y)0.43
Revenue Growth55.34%
EPS Growth72.13%
CountryUS
Employees39
SectorGeneral
Sector StrengthN/A
IndustryREIT - Retail
Share Statistics
EPS (TTM)0.25
Shares Outstanding115,038,025
10 Day Avg. Volume1,287,641
30 Day Avg. Volume1,457,304
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 Cap1.22
Enterprise Value/Revenue15.82
Enterprise Value/Gross Profit67.28
Enterprise Value/Ebitda44.53
Forecast
1Y Price Target
$34.00Price Target Upside12.88% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering7
EPS Forecast (FY)0.24
Revenue Forecast (FY)$255.64M
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
CURB primarily makes money by generating rental income from tenants that lease space in its retail properties. Its revenue model is based on (1) base rent collected under lease contracts, and (2) additional tenant-related recoveries/other property...
Curbline Properties Corp. Earnings Call Summary
Earnings Call Date:Oct 22, 2026
(Q3-2026)
| % Change Since: |
Next Earnings Date:Feb 16, 2027
Earnings Call Sentiment Positive
The call was strongly positive. Management highlighted more than 41% annualized OFFO per-share growth since the fourth quarter of 2024, over 18% expected 2026 OFFO growth, accelerating same-property NOI, substantial liquidity, strong leasing demand, a sizable acquisition pipeline and significant long-term market opportunity. The principal challenges were higher capital costs and return hurdles, a sequential lease-rate decline, lower projected same-property NOI growth than in prior years and increased bankruptcy activity across the broader retail market, although management said its own tenant credit metrics remained stable.Positive Updates
Strong Investment and Fundraising Momentum
Curbline reported more than $300 million of investments and fundraising in the third quarter, providing liquidity and capital to support significant growth into the fourth quarter and 2027. For the current year, the company had acquired just over $800 million of assets through the prior Friday and expected to exceed its previous expectation of $1 billion of total investments.
Negative Updates
Higher Cost of Capital and Return Hurdles
Management stated that the company's cost of capital had increased on both the equity and debt sides, resulting in higher unlevered IRR expectations. Management also said borrowing rates had increased and that cap rates had moved up on the margin.
Read all updates
Q3-2026 Updates
Positive
Negative
Strong Investment and Fundraising Momentum
Curbline reported more than $300 million of investments and fundraising in the third quarter, providing liquidity and capital to support significant growth into the fourth quarter and 2027. For the current year, the company had acquired just over $800 million of assets through the prior Friday and expected to exceed its previous expectation of $1 billion of total investments.
Read all positive updates
Company Guidance
For 2026, Curbline increased OFFO guidance to a range between $1.25 and $1.27 per share, with the midpoint representing just over 18% growth, based on just over $1 billion of full-year investments, CapEx as a percentage of NOI of less than 10%, and G&A of roughly $32 million; same-property NOI growth is forecast at 2.5%-4%, with acceleration into the fourth quarter and 2027, almost 75% of the SNO pipeline expected to commence by March 31st of next year and over 98% by the end of the third quarter. Fourth-quarter guidance includes an average share count of about 121 million shares, non-cash revenue declining by about $300,000, and G&A totaling just under $9 million; the company expects $150 million from a term loan, $895 million of immediate liquidity, year-end net debt to EBITDA of under 2.5 times, and well into double digit growth next year if it invests the remainder of its liquidity over 2026 and 2027. Management’s placeholder for uncollected revenue remains about 60 basis points, and with 96.5% leased, it considers 150 basis points or 100 basis points a good lease-occupied gap.Curbline Properties Corp. Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
78
Positive
Cash Flow
84
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 241.37M | 182.89M | 120.88M | 93.66M | 73.14M |
| Gross Profit | 56.77M | 136.95M | 93.28M | 71.75M | 57.76M |
| EBITDA | 85.77M | 124.74M | 53.09M | 64.53M | 53.98M |
| Net Income | 27.44M | 39.83M | 10.26M | 31.01M | 25.73M |
Balance Sheet | |||||
| Total Assets | 3.03B | 2.47B | 2.03B | 921.63M | 758.02M |
| Cash, Cash Equivalents and Short-Term Investments | 122.83M | 289.55M | 626.41M | 566.00K | 77.00K |
| Total Debt | 0.00 | 489.94M | 40.15M | 47.00M | 53.82M |
| Total Liabilities | 759.99M | 556.32M | 90.54M | 58.99M | 66.24M |
| Stockholders Equity | 2.27B | 1.91B | 1.94B | 862.64M | 691.78M |
Cash Flow | |||||
| Free Cash Flow | 143.66M | 124.60M | 54.26M | 59.24M | 49.88M |
| Operating Cash Flow | 136.10M | 124.60M | 54.26M | 59.24M | 49.88M |
| Investing Cash Flow | -945.34M | -803.25M | -437.40M | -186.02M | -323.46M |
| Financing Cash Flow | 501.96M | 341.79M | 1.01B | 126.91M | 273.33M |
Curbline Properties Corp. Technical Analysis
Positive
30.12
Price Trends
28.52
Positive
29.36
Negative
27.78
Positive
Market Momentum
-0.36
Negative
61.53
Neutral
64.72
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 30.12 is above the 20-day moving average (MA) of 27.45, above the 50-day MA of 28.52, and above the 200-day MA of 27.78, indicating a bullish trend. The MACD of -0.36 indicates Negative momentum. The RSI at 61.53 is Neutral, neither overbought nor oversold. The STOCH value of 64.72 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 |
|---|---|---|---|---|---|---|---|
74 Outperform | $8.41B | 19.31 | 14.39% | 4.49% | 5.13% | 28.20% | |
71 Outperform | $3.12B | 97.61 | 1.34% | 2.60% | 55.34% | 72.13% | |
68 Neutral | $2.29B | 145.57 | 0.85% | 3.36% | 10.76% | -86.42% | |
68 Neutral | $5.38B | 32.41 | 6.24% | 3.52% | 8.07% | 106.29% | |
66 Neutral | $4.84B | 14.93 | 11.27% | 5.40% | -5.84% | 395.39% | |
63 Neutral | $191.01M | 1.52 | 40.56% | 168.46% | -64.75% | -64.43% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
CURB
Curbline Properties Corp.
28.86
4.98
20.87%
SITC
SITE Centers
3.74
-1.42
-27.46%
KRG
Kite Realty Group
24.77
3.02
13.88%
BRX
Brixmor Property
28.26
1.33
4.95%
IVT
InvenTrust Properties
30.14
2.15
7.68%
PECO
Phillips Edison & Company
38.29
4.80
14.34%
Curbline Properties Corp. Corporate Events
Business Operations and StrategyRegulatory Filings and Compliance
Curbline Properties Adjusts Ownership Limits, Modifies Shareholder Rights
Neutral
Aug 18, 2026
Curbline Properties Corp. operates as a real estate company focused on owning and managing properties that were previously part of SITE Centers Corp., following a spin-off completed in October 2024. The company’s capital structure and govern...
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.