Curbline Properties slips after announcing stock offering
Shares of real estate investment trust Curbline Properties CURB.N down 2.5% post-market to $25.10 after equity offering news
New York City-based owner of suburban convenience shopping centers commences 8 mln share offering on a forward basis
CURB to enter 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 to repay debt
With ~105.4 mln shares outstanding, CURB has $2.7 bln market cap
Co early Mon reported Q4 FFO/sh of 29 cents, above consensus view of 27 cents, per LSEG data
CURB shares on Tues finished up 0.3% at $25.73, up 11% YTD. In the session, stock hit its highest intraday level ($26.03) since co was spun out of Site Centers SITC.N in 2024
8 of 9 analysts covering CURB rate the stock "strong buy" or "buy", 1 "hold"; median PT $27
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