Quarterly ResultApr 28, 2026, 06:41 AM
CURB Q1 OFFO $0.28; Net Income $3.6M; Raises 2026 OFFO Guidance
AI Summary
Curbline Properties Corp. reported Q1 2026 net income of $3.6 million ($0.03 per diluted share), a decrease from $10.6 million ($0.10 per diluted share) year-over-year, primarily due to increased interest and depreciation expenses. However, Operating FFO increased to $29.9 million ($0.28 per diluted share) from $25.1 million ($0.24 per diluted share) in the prior year. The company acquired 14 convenience shopping centers for $142.4 million in Q1 and funded $172.0 million in senior unsecured notes. Curbline also raised its full-year 2026 Operating FFO guidance to $1.20-$1.23 per diluted share, citing strong performance and a growing investment pipeline.
Key Highlights
- Q1 2026 net income was $3.6M ($0.03/share), down from $10.6M ($0.10/share) YoY.
- Q1 2026 Operating FFO rose to $29.9M ($0.28/share) from $25.1M ($0.24/share) YoY.
- Acquired 14 convenience shopping centers for $142.4M in Q1 2026.
- Funded $172.0M of senior unsecured notes and sold 9.2M shares for $234.6M.
- Same-property net operating income (SPNOI) increased by 4.8% YoY.
- Q1 2026 cash new leasing spreads were 33.5% and cash renewal spreads were 5.9%.
- Raised 2026 Operating FFO guidance to $1.20-$1.23 per diluted share.