Curbline Properties dips on pricing $204 mln stock offering

Curbline Properties

11/02/2026 11:52

** Shares of real estate investment trust Curbline Properties CURB.N down 1.4% before the bell to $25.36 after overnight follow-on priced

** New York City-based owner of suburban convenience shopping centers late Tues announced 8 mln shares for expected gross proceeds of $204 mln on a forward basis

** Offering price equates to $25.50, which is 0.1% discount to stock's last close

** CURB entered into 18-month forward sale agreements with bookrunners Morgan Stanley and BofA

** Upon settlement of agreements, it anticipates using net proceeds for general purposes, including funding acquisition of properties, working capital and capex, and repaying debt

** Co has ~105.4 mln shares outstanding

** A forward sale structure allows the REIT to lock in current stock price and delays new share issuance and collecting proceeds until they are needed, consequently avoiding immediate dilution

** Co early Mon reported Q4 FFO/sh of 29 cents, above consensus view of 27 cents, per LSEG data

** Through Tues close, CURB shares up 11% YTD. During the session, stock hit highest intraday level ($26.03) since co was spun out of Site Centers SITC.N in 2024

** 8 of 9 analysts rate the stock "strong buy" or "buy", 1 rates "hold"; median PT $27

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))