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CURB

Curbline Properties Corp.

CURB

Curbline Properties Corp. • NYSE
$23.94 ▲ 0.08% (+0.02)
Market Cap $2.52 B
52w High $25.69
52w Low $20.91
Dividend Yield 0.64%
P/E 63
Volume 235.24K
Outstanding Shares 105.37M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $48.647M ▲ $27.042M ▲ $9.346M ▼ 19.212% ▼ $0.09 ▼ $33.162M ▲
Q2-2025 $41.402M ▲ $24.195M ▲ $10.392M ▼ 25.1% ▼ $0.099 ▼ $28.284M ▲
Q1-2025 $38.695M ▲ $23.391M ▲ $10.55M ▼ 27.265% ▼ $0.1 ▼ $25.697M ▲
Q4-2024 $34.923M ▲ $22.327M ▲ $11.461M ▲ 32.818% ▲ $0.11 ▲ $24.153M ▲
Q3-2024 $29.762M $14.686M $-15.41M -51.777% $-0.15 $-4.302M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $430.112M ▲ $2.445B ▲ $521.771M ▲ $1.92B ▼
Q2-2025 $429.865M ▼ $2.134B ▲ $204.822M ▲ $1.926B ▼
Q1-2025 $594.038M ▼ $2.121B ▲ $185.224M ▲ $1.934B ▼
Q4-2024 $626.409M ▲ $2.033B ▲ $90.541M ▲ $1.942B ▲
Q3-2024 $2.541M $1.167B $50.039M $1.117B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $10.406M ▼ $34.172M ▲ $-180.222M ▼ $-18.123M ▼ $-164.173M ▼ $30.776M ▲
Q1-2025 $10.562M ▼ $25.371M ▼ $-128.257M ▲ $70.515M ▼ $-32.371M ▼ $23.53M ▼
Q4-2024 $11.472M ▲ $29.004M ▲ $-202.738M ▼ $797.602M ▲ $623.868M ▲ $29.004M ▲
Q3-2024 $-15.41M ▼ $-7.075M ▼ $-153.787M ▼ $161.877M ▲ $1.015M ▲ $-7.075M ▼
Q2-2024 $6.236M $16.867M $-58.119M $41.146M $-106K $16.867M

Five-Year Company Overview

Income Statement

Income Statement Revenue has grown steadily over the last few years, and core property profits look reasonably healthy for a young, niche REIT. Operating performance has been fairly stable, suggesting the underlying properties are doing their job. However, bottom-line profit has softened more recently, likely reflecting higher costs, deal-related expenses, or the costs of scaling as a newly public company. Earnings per share have stepped down from earlier years, which is worth watching to see whether it is a temporary effect of growth investments or a sign of rising structural costs.

Balance Sheet

Balance Sheet The balance sheet is a clear strength. Total assets and equity have expanded sharply as the company has scaled, and cash levels are high relative to its modest debt load. This leaves CURB in a net cash position, giving it financial flexibility to pursue acquisitions and weather real estate cycles. Leverage is currently conservative, which reduces financial risk but also puts pressure on management to deploy that cash wisely and avoid overpaying for growth.

Cash Flow

Cash Flow Cash generation from the core business has been positive and fairly consistent, which is encouraging for a newly listed REIT. After necessary property investments, the company still generates positive free cash flow, indicating that growth is not being funded purely by borrowing or equity issuance. Capital spending is present but measured, suggesting a disciplined approach to expanding and upgrading the portfolio. The key question over time will be whether operating cash flow can scale in line with the company’s growth ambitions and acquisition pace.

Competitive Edge

Competitive Edge CURB operates in a very focused niche: convenience-oriented retail centers at highly visible, easily accessible suburban locations. As one of the first public REITs dedicated solely to this type of property, it enjoys a first-mover advantage and a clear, easy-to-understand strategy. Its tenant base leans heavily toward national chains, which can bring more stability and bargaining power. High occupancy and standardized property formats support efficiency. The main competitive risks are the potential for other capital to flood into this niche, pressure on tenants from shifts in consumer spending, and sensitivity to local real estate conditions and interest rates.

Innovation and R&D

Innovation and R&D Innovation at CURB is less about traditional R&D and more about data and process. The company’s use of geolocation and behavioral data to select sites and curate tenant mixes is a genuine differentiator in a sector that has often relied on intuition and local relationships. Standardized property layouts and a focus on drive-thru and convenience features give it an operating playbook that can be replicated as the portfolio grows. The challenge will be maintaining a technological edge, managing data responsibly, and continuously refining its models as consumer patterns and regulations evolve.

Summary

CURB is an early-stage, specialized retail REIT built around the idea that convenience-focused properties near busy suburban intersections can offer attractive, relatively resilient income. Financially, it combines steady, positive cash generation with a very strong, cash-rich balance sheet and light use of debt, giving it room to pursue an aggressive acquisition strategy. At the same time, reported earnings have recently softened, and the company is still proving that it can translate its niche focus and data-driven approach into durable, growing profits at scale. The main opportunities lie in consolidating a highly fragmented market and leveraging its data platform, while key risks center on execution in rapid portfolio growth, dependence on a single property type, and broader real estate and interest-rate cycles.

NEWS

October 28, 2025 · 6:30 AM UTC

Curbline Properties Reports Third Quarter 2025 Results

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October 14, 2025 · 4:05 PM UTC

Curbline Properties' Third Quarter Earnings Conference Call to Be Held on Tuesday, October 28, 2025, at 8:00AM

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October 2, 2025 · 6:55 AM UTC

Curbline Properties Announces Share Repurchase and ATM Programs

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September 17, 2025 · 4:05 PM UTC

Curbline Properties Declares Common Stock Dividend of $0.16 for Third Quarter 2025

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September 11, 2025 · 7:55 AM UTC

Curbline Properties Third Quarter 2025 Investment Update

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