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NEW YORK - Curbline Properties Corp. (NYSE:CURB), a $2.59 billion market cap REIT specializing in convenience shopping centers, has announced the acquisition of nine properties totaling $104.3 million. The company, which has demonstrated strong revenue growth of 29% over the last twelve months, continues its expansion strategy. The company, which targets affluent suburban markets in the United States, has recently added a six-property portfolio in Jacksonville, Florida, worth $86.3 million to its assets. According to InvestingPro data, Curbline maintains excellent financial health with a current ratio of 13.54, indicating strong liquidity to support its acquisition strategy.
The recent acquisitions also include Navarre Crossing in Toledo, Ohio, purchased for $4.95 million on January 16, and two properties in the Phoenix-Mesa-Chandler, Arizona, area: Shops at Gilbert Crossroads - Phase II for $2.7 million on January 24, and Corner at Laveen Spectrum for $10.35 million on February 24.
David R. Lukes, President and CEO of Curbline, expressed optimism about the company’s growth trajectory and the potential within the convenience center market. InvestingPro analysis reveals multiple positive indicators, including expected net income growth and strong sales forecasts for the current year. The company, which plans to operate as a Real Estate Investment Trust (REIT), focuses on strategically located properties along major vehicular routes in affluent suburbs.
While Curbline’s press release includes forward-looking statements regarding its operational and financial performance, these are based on current expectations and assumptions, and actual results could differ materially. Factors such as economic conditions, consumer and retail trends, tenant operations, and property acquisitions could impact the company’s performance.
Curbline’s strategic moves come amid a broader context of changing consumer shopping habits and the retail real estate market’s adaptation to these trends. The company’s focus on convenience centers caters to the demand for easily accessible shopping locations.
This announcement is based on a press release statement and provides an overview of Curbline Properties Corp.’s recent investment activities. The company’s shares are publicly traded on the New York Stock Exchange under the ticker symbol CURB.
In other recent news, Curbline Properties Corp has been the subject of attention from several financial analysts. Morgan Stanley (NYSE:MS) initiated coverage on the company with an Equal-weight rating and set a price target of $27.00. This assessment reflects Morgan Stanley’s view that the stock is fairly valued at its current level. Meanwhile, Compass Point also began coverage on Curbline Properties Corp, assigning a Neutral rating and a slightly lower price target of $24.00. The company, which was spun out of Site Centers in October 2024, is noted for its significant small shop percentage of annual base rent, standing at 92% within Compass Point’s strip coverage universe.
Curbline Properties Corp, which owns 97 unanchored convenience properties, has a strategic focus on suburbs in major metropolitan areas such as Miami, Atlanta, and Phoenix. The company’s properties are predominantly located in the Southeast and Southwest regions of the United States. Notably, Curbline carries no debt following its spinoff and holds an $800 million cash balance, which analysts expect will be used for acquisitions. This financial strategy may allow Curbline to expand its portfolio substantially without raising new equity. Compass Point highlighted Curbline’s low leverage as a distinguishing feature among its peers in the real estate sector.
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