Bank of New York Mellon Corp Takes $22.84 Million Position in Curbline Properties Corp. $CURB

Key Points

• Bank of New York Mellon acquired 751,200 shares of Curbline Properties in the second quarter, establishing a position worth approximately $22.84 million, or 0.65% of the company.
• Institutional interest increased as Principal Financial, T. Rowe Price, Balyasny Asset Management, Daiwa Securities and UBS expanded their holdings. However, insiders sold more than 1.07 million shares valued at about $32.5 million over the past three months.
• Curbline reported stronger-than-expected quarterly results, with $0.31 EPS and $63.3 million in revenue, up 52.9% year over year. Analysts maintain a “Moderate Buy” consensus with an average price target of $31.50.

Bank of New York Mellon Corp bought a new stake in Curbline Properties Corp. (NYSE:CURB - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 751,200 shares of the company's stock, valued at approximately $22,836,000. Bank of New York Mellon Corp owned 0.65% of Curbline Properties at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its position in Curbline Properties by 110.3% during the first quarter. Principal Financial Group Inc. now owns 5,176,015 shares of the company's stock valued at $133,489,000 after purchasing an additional 2,714,859 shares during the period. T. Rowe Price Investment Management Inc. boosted its position in Curbline Properties by 21.6% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 13,342,821 shares of the company's stock worth $309,687,000 after purchasing an additional 2,365,894 shares in the last quarter. Balyasny Asset Management L.P. grew its stake in shares of Curbline Properties by 36.4% during the 2nd quarter. Balyasny Asset Management L.P. now owns 2,164,444 shares of the company's stock worth $49,414,000 after purchasing an additional 577,037 shares during the period. Daiwa Securities Group Inc. increased its holdings in shares of Curbline Properties by 25.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 2,778,716 shares of the company's stock valued at $61,966,000 after purchasing an additional 562,642 shares in the last quarter. Finally, UBS Group AG increased its holdings in shares of Curbline Properties by 175.2% during the 4th quarter. UBS Group AG now owns 425,331 shares of the company's stock valued at $9,872,000 after purchasing an additional 270,800 shares in the last quarter.

Insiders Place Their Bets

In other Curbline Properties news, EVP Conor Fennerty sold 55,105 shares of the company's stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $30.38, for a total value of $1,674,089.90. Following the completion of the sale, the executive vice president directly owned 153,909 shares in the company, valued at $4,675,755.42. This represents a 26.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alexander Otto sold 174,293 shares of the firm's stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $30.12, for a total value of $5,249,705.16. Following the completion of the sale, the director directly owned 7,057,394 shares of the company's stock, valued at $212,568,707.28. This trade represents a 2.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,078,639 shares of company stock worth $32,478,760 in the last three months. 8.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Weiss Ratings raised Curbline Properties from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, August 12th. Citigroup raised their price objective on Curbline Properties from $33.00 to $36.00 and gave the company a "buy" rating in a report on Monday, August 3rd. Morgan Stanley restated an "equal weight" rating and issued a $30.00 price objective on shares of Curbline Properties in a research report on Thursday, June 18th. JPMorgan Chase & Co. upped their target price on Curbline Properties from $30.00 to $31.00 and gave the stock an "overweight" rating in a research note on Monday, May 4th. Finally, Wall Street Zen upgraded Curbline Properties from a "strong sell" rating to a "sell" rating in a research report on Saturday, August 1st. Seven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $31.50.

Curbline Properties Trading Up 0.2%

Shares of CURB stock opened at $30.04 on Monday. The stock's fifty day moving average is $30.48 and its two-hundred day moving average is $28.65. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.63 and a current ratio of 0.63. The firm has a market capitalization of $3.46 billion, a P/E ratio of 111.26 and a beta of 0.51. Curbline Properties Corp. has a fifty-two week low of $21.93 and a fifty-two week high of $32.15.

Curbline Properties (NYSE:CURB - Get Free Report) last announced its earnings results on Tuesday, July 28th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.27. Curbline Properties had a net margin of 13.10% and a return on equity of 1.50%. The company had revenue of $63.30 million for the quarter, compared to analysts' expectations of $57.25 million. During the same quarter in the previous year, the company posted $0.26 EPS. The firm's quarterly revenue was up 52.9% on a year-over-year basis. Curbline Properties has set its FY 2026 guidance at 1.240-1.260 EPS. Research analysts expect that Curbline Properties Corp. will post 1.25 earnings per share for the current fiscal year.

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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