Curbline Properties Q3 operating FFO per share rises 14%

Overview

• U.S. convenience center REIT's Q3 revenue rose yr/yr, net income per share declined

• Q3 Operating FFO per share rose to $0.32 from $0.28 a year ago

• Net income decline attributed to higher interest, depreciation, and share count from acquisitions

Outlook

• Curbline sees 2026 net income at $0.25 to $0.29 per diluted share

• Company raises 2026 Operating FFO guidance to $1.25 to $1.27 per diluted share

• Company expects investment activity and lease commencements to drive growth into Q4 and 2027

Result Drivers

• BASE RENT GROWTH - Co said higher same-property net operating income was driven by accelerated base rent growth from new rent commencements

• HIGHER EXPENSES - Co attributed lower net income to increased interest and depreciation expenses, lower interest income, and higher share count from acquisitions

• ASSET ACQUISITIONS - Co said asset acquisitions contributed to higher Operating FFO

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the real estate rental, development & operations peer group is "buy"

• Wall Street's median 12-month price target for Curbline Properties Corp. is $32.50, about 20.8% above its October 21 closing price of $26.91

• The stock recently traded at 78 times the next 12-month earnings vs. a P/E of 105 three months ago

Reuters Recommended Reads

• Oct 21 - Essential Properties Q3 AFFO per share rises, lifts 2026 outlook

• Oct 20 - Agree Realty Q3 net income per share up 18.5%; raises FY26 AFFO guidance

• Oct 21 - EastGroup Properties Q3 FFO per share rises 7.9% on rent increase

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)