Curbline Properties reports Q4 FFO 23c, consensus 22c

Reports Q4 revenue $34.92M, consensus $30.03M. “Curbline Properties (CURB) had a very strong start on all fronts in its inaugural quarter as an independent publicly traded company as we look to scale the first public real estate company focused exclusively on convenience properties located on the curbline in the wealthiest submarkets in the United States,” commented CEO David Lukes. “The Company is uniquely positioned in the public real estate sector with a differentiated investment focus and a net cash position at year end. In Q4, Curbline closed on the acquisition of 20 convenience shopping centers for $206.1M along with a $500M credit facility providing additional liquidity and investment capacity. Lastly, demand and interest for available space remains elevated highlighting the depth of leasing prospects for the Company’s largely homogenous unit sizes.”