Corrected: BUZZ-Curbline Properties slips on $308.5 mln share offering

Curbline Properties

30/06/2026 12:23

Corrects offering price in 3rd bullet
** REIT Curbline Properties' CURB.N shares down 2.2% premarket at $30.59 after follow-on priced
** New York City-based owner of suburban convenience shopping centers late Mon announced 10 mln shares for $308.5 mln as part of forward sale
** Offering price is $30.85, which represents a 1.3% discount to stock's last close
** CURB entered into 18-month forward sale agreements with bookrunners Goldman Sachs, Morgan Stanley and Wells Fargo
** Upon settlement of agreements, it intends using net proceeds for general purposes, including property acquisitions, working capital and capex, and repaying debt
** Co has ~114 mln shares outstanding
** CURB in Feb priced $204 mln stock offering also on an 18-month forward sale basis
** At Mon close, stock up 35% YTD
** 6 of 9 analysts rate the stock "strong buy" or "buy", 3 "hold"; median PT $31, per LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))