Curbline Properties (NYSE:CURB) Releases Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Key Points

• Curbline Properties reported a quarterly earnings per share (EPS) of $0.26, exceeding analysts' expectations of $0.24 by $0.02.
• Following the earnings report, Curbline Properties' stock rose by 2.0% to $23.32, with trading volume surpassing its average.
• The company also announced a quarterly dividend of $0.16 per share, providing an annualized yield of 2.74%.

Curbline Properties (NYSE:CURB - Get Free Report) released its quarterly earnings data on Monday. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.02, Zacks reports.

Curbline Properties Stock Up 2.0%

Shares of NYSE:CURB traded up $0.46 during midday trading on Monday, reaching $23.32. 954,238 shares of the company were exchanged, compared to its average volume of 586,596. The company has a current ratio of 27.77, a quick ratio of 27.77 and a debt-to-equity ratio of 0.05. Curbline Properties has a fifty-two week low of $18.80 and a fifty-two week high of $25.69. The stock has a fifty day simple moving average of $22.76 and a two-hundred day simple moving average of $23.40.

Curbline Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.74%.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley reduced their price objective on shares of Curbline Properties from $27.00 to $26.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $25.68.

Insider Transactions at Curbline Properties

In other Curbline Properties news, EVP Conor Fennerty sold 28,000 shares of Curbline Properties stock in a transaction on Friday, June 27th. The shares were sold at an average price of $22.81, for a total value of $638,680.00. Following the sale, the executive vice president directly owned 176,560 shares in the company, valued at approximately $4,027,333.60. The trade was a 13.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 8.60% of the company's stock.

Institutional Investors Weigh In On Curbline Properties

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada grew its position in shares of Curbline Properties by 43.7% in the 1st quarter. Royal Bank of Canada now owns 17,595 shares of the company's stock valued at $425,000 after acquiring an additional 5,351 shares during the period. Intech Investment Management LLC grew its stake in Curbline Properties by 58.6% in the 1st quarter. Intech Investment Management LLC now owns 51,984 shares of the company's stock valued at $1,257,000 after buying an additional 19,204 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Curbline Properties by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 56,529 shares of the company's stock valued at $1,367,000 after buying an additional 2,483 shares during the last quarter. Jane Street Group LLC acquired a new position in Curbline Properties in the 1st quarter valued at about $4,025,000. Finally, Goldman Sachs Group Inc. grew its stake in Curbline Properties by 11.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 727,420 shares of the company's stock valued at $17,596,000 after buying an additional 77,322 shares during the last quarter.

Curbline Properties Company Profile

Curbline Properties Corp. is a real estate investment trust which is an owner and manager of convenience shopping centers positioned on the curbline of well-trafficked intersections and major vehicular corridors in suburban. Curbline Properties Corp. is based in NEW YORK.

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