CURB
Curbline Properties Corp.23.04
-0.06-0.26%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
No earnings call transcript available
Key Stats
Market Cap
2.43BP/E (TTM)
60.63Basic EPS (TTM)
0.38Dividend Yield
0.02%Recent Filings
8-K
8-K
Strong Q3 results, major acquisitions
Curbline Properties reported third-quarter 2025 net income of $9.3 million, or $0.09 per diluted share, swinging from a $15.4 million loss last year, fueled by $336.1 million in acquisitions expanding its portfolio to 162 properties. Same-property NOI grew 2.6% quarterly, with leased rates hitting 96.7% amid 26.9% cash new leasing spreads. Acquisitions drive scale, yet rising interest expenses temper gains. Momentum builds.
8-K
Execs' equity awards aligned
Curbline Properties amended employment agreements for three executives—EVP/CFO Conor Fennerty, EVP/Chief Investment Officer John Cattonar, and EVP/General Counsel Lesley Solomon—on September 26, 2025, aligning their annual performance-based equity awards to a 250% maximum of target, matching the CEO's structure. Awards start at $600,000 targets for Fennerty and Cattonar, $150,000 for Solomon, vesting over 37 months with at least 50% tied to relative TSR versus peers. Executives now share aligned incentives. Vesting hinges on long-term metrics.
10-Q
Q2 FY2025 results
Curbline Properties posted solid Q2 results, with rental income up 47.1% year-over-year to $41.1M, fueled by 30 acquisitions for $279.1M in cash, while same-property NOI grew 4.4% on rent steps and higher recoveries. Net income attributable to Curbline climbed 66.7% to $10.4M, or $0.10 diluted EPS, matching the prior quarter's pace; operating income isn't separately broken out but tracks closely after minor interest and tax hits. Cash swelled to $429.9M despite $59.5M in operating cash flow minus $5.2M capex, yielding $54.3M free cash flow, with $100M term debt at 4.678% fixed via swaps and $400M revolver untapped. Acquisitions added $110.1M land and $151.8M buildings, recognizing $29.4M in-place leases over 5.1 years. Yet tenant bankruptcies could crimp occupancy in shaky retail.
8-K
Curbline Q2 earnings surge
Curbline Properties reported Q2 2025 net income of $10.4 million, up from $6.2 million last year, fueled by acquisitions boosting net operating income to $30.8 million. The company snapped up 19 convenience centers for $154.9 million while raising $150 million in notes and securing a $150 million term loan at 4.609%, maintaining a net cash position. Same-property NOI climbed 6.2%, with leasing spreads hitting 10.6% cash new; yet, rising interest expenses tempered gains. Momentum persists: $260 million in Q3 deals to date.
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