Curbline Properties beats top-line and bottom-line estimates; updates FY outlook

* Curbline Properties Corp. press release [https://seekingalpha.com/pr/20281445-curbline-properties-reports-third-quarter-2025-results] (NYSE:CURB [https://seekingalpha.com/symbol/CURB]): Q3 FFO of $0.28 beats by $0.02.
* Third quarter net income attributable to Curbline was $9.3 million, or $0.09 per diluted share, as compared to a net loss of $15.4 million, or $0.15 per diluted share, in the year-ago period.
* Revenue of $48.65M (+63.5% Y/Y) beats by $5.36M.
* During the third quarter, acquired 37 convenience shopping centers for an aggregate price of $336.1 million.
* Reported a leased rate of 96.7% at September 30, 2025 compared to 96.1% at June 30, 2025 and 95.4% at September 30, 2024.
* As of September 30, 2025, the Signed Not Opened spread was 280 basis points, representing $8.3 million of annualized base rent.

2025 GUIDANCE

THE COMPANY HAS UPDATED ITS GUIDANCE for net income attributable to Curbline for 2025 to be from $0.35 to $0.38 per diluted share and Operating FFO to be from $1.04 to $1.05 per diluted share. The Company does not include a projection of gains or losses on asset sales, transaction costs or debt extinguishment costs in guidance.

Reconciliation of Net Income Attributable to Curbline to FFO and Operating FFO estimates:

FY 2025E (prior)

Per Share — Diluted

FY 2025E (revised)

Per Share — Diluted

Net income attributable to Curbline

$0.37 — $0.44

$0.35 — $0.38

Depreciation and amortization of real estate, net

0.62 — 0.58

0.68 — 0.66

FFO attributable to Curbline (NAREIT)

$0.99 — $1.02

$1.03 — $1.04 (CONSENSUS OF $1.02)

Transaction, debt extinguishment and other costs, net (reported actual)

0.01

0.01

Operating FFO attributable to Curbline

$1.00 — $1.03

$1.04 — $1.05

Click to enlarge

MORE ON CURBLINE PROPERTIES CORP.

* Curbline: Rapid Growth At A Fair Valuation, But Waiting Makes Sense [https://seekingalpha.com/article/4811886-curbline-rapid-growth-at-a-fair-valuation-but-waiting-makes-sense]
* Curbline Properties announces $250M share repurchase and $250M ATM program [https://seekingalpha.com/news/4501203-curbline-properties-announces-250m-share-repurchase-and-250m-atm-program]
* Curbline Properties adds $309.7 mln in Q3 acquisitions [https://seekingalpha.com/news/4494074-curbline-properties-adds-3097-mln-in-q3-acquisitions]
* Seeking Alpha’s Quant Rating on Curbline Properties Corp. [https://seekingalpha.com/symbol/CURB/ratings/quant-ratings]
* Historical earnings data for Curbline Properties Corp. [https://seekingalpha.com/symbol/CURB/earnings]