| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 14 | 106.3x | 17.8x | Bottom tier | |
Growth | 91 | 44.9% | 7.1% | Top tier | |
Quality | 63 | 1.4% | 4.5% | Around median | |
Safety | 60 | 3.5x | 2.6x | Around median | |
Capital Return | 28 | 2.29% | 2.12% | Bottom tier | |
Momentum | 82 | 31.5% | 2.9% | Top tier | |
Sentiment | 22 | 3 | 3 | Bottom tier |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Curbline Properties Corp. is a publicly traded real estate investment company focused exclusively on convenient retail properties located along major traffic corridors in the United States. The company generates its income primarily from rents on simple, flexible strip retail properties and targets assets in areas with strong demographics, high traffic density, and creditworthy tenants. The portfolio includes more than 1,300 unique tenants, including more than 500 national tenants representing approximately 70% of base rent, while no single tenant contributes more than 2% of it.
EDGAR data for Q1 FY2026 showed revenue of $58.0 million, net income of $3.6 million, and earnings per share of $0.03, compared with annual revenue of $182.9 million and net income of $39.9 million in FY2025. Revenue for the twelve months ended in 2026 was approximately $202.2 million, with net income of $32.9 million and earnings per share of $0.309. The data does not include a gross profit figure, so a reliable gross margin cannot be derived.
In Q2 FY2026, property net operating income increased 12% quarter over quarter and by more than 50% year over year, driven by acquisitions and organic growth. The leased rate rose 20 basis points to 96.5%, and occupancy reached 94.3%, the portfolio's highest level since the spin-off, while the company signed new and renewal leases covering more than 167 thousand square feet. Same-property net operating income growth was 2% year to date in FY2026, with base rent growth of more than 2.3% and capital expenditures equal to only 8% of net operating income during the twelve months ended in the quarter.
Automated analysis for informational purposes only — not investment advice.
The average analyst price target is $34.75, within a wide range of $30 to $39, with a consensus rating of “Buy”; the average is above the upper end of the 52-week range of $32.15, while the lower end of the range is $21.93. No reported price-to-earnings ratio is available, and earnings per share for the twelve months ended in 2026 were only approximately $0.309, so the stock's valuation is based more heavily on expected OFFO growth of more than 17% and the success of the acquisition program, while the breadth of analysts' target range indicates differing estimates of returns and execution.
Figures in the text are as of 2026-08-31; the live price is shown at the top of the page.
The largest driver is the increase in the acquisition target to $1 billion after completing $564 million year to date in FY2026, including $374 million in Q2. Management expects to complete approximately $500 million of additional acquisitions during the second half, at capitalization rates in the low-6% range and unlevered internal rates of return of approximately 8%. Acquisitions, together with organic growth, helped increase property net operating income by more than 50% year over year and 12% quarter over quarter in Q2 FY2026.
The portfolio includes more than 1,300 unique tenants, with only seven tenants each representing more than 1% of base rent. Only one tenant contributes more than 2%, limiting the risk of dependence on a single tenant. More than 500 national tenants represent approximately 70% of base rent, while the 15 new leases in Q2 FY2026 were distributed across 15 different tenants, including FedEx Office and Tropical Smoothie.
Management raised OFFO guidance to a range of $1.24 to $1.26 per share in FY2026. The midpoint represents growth of more than 17% and is based on $1 billion of investments and a cash yield of approximately 3.5%. The guidance also assumes general and administrative expenses of approximately $32 million and capital expenditures of less than 10% of net operating income.
The leased rate reached 96.5% in Q2 FY2026, up 20 basis points quarter over quarter despite an approximately 20-basis-point negative impact from acquired assets. Occupancy increased to 94.3%, the portfolio's highest level since the spin-off. The company also signed new and renewal leases covering more than 167 thousand square feet during the quarter and expects most SNO leases to commence over the following quarters.
Available cash was $155 million at the end of Q2 FY2026, and unsettled equity proceeds were $696 million. Immediate liquidity therefore exceeded $800 million, compared with approximately $500 million of investments remaining under annual guidance. Leverage was also approximately 20%, although the company issued 18.1 million shares on a forward basis during the quarter, making the dilutive impact on the stock an important factor when assessing acquisition returns.
Management explained that lower expense-recovery revenue had a negative impact of 260 basis points during Q2 FY2026. Storm damage at a property in North Carolina added an expense of $370 thousand, equivalent to an additional negative impact of 100 basis points. After adjusting for these two factors, same-property net operating income growth would have been 3.1%, with base rent growth of more than 2.3%.
