Lazard Asset Management LLC Invests $1.57 Million in Curbline Properties Corp. $CURB

Key Points

• Lazard Asset Management initiated a 60,904-share position in Curbline Properties worth approximately $1.57 million, while several other institutions also increased or established stakes during the first quarter.
• Analyst sentiment remains favorable: five analysts rate the stock a Buy and four rate it a Hold, producing a “Moderate Buy” consensus and an average price target of $31.11. JPMorgan, KeyCorp, and Piper Sandler recently raised their targets.
• Curbline Properties shares opened at $30.09, near their recent trading range, and the REIT pays a quarterly dividend of $0.17, equal to a 2.3% annualized yield. Executive Vice President Conor Fennerty recently sold shares worth approximately $1.67 million.

Lazard Asset Management LLC bought a new stake in Curbline Properties Corp. (NYSE:CURB - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 60,904 shares of the company's stock, valued at approximately $1,571,000. Lazard Asset Management LLC owned about 0.06% of Curbline Properties as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Renaissance Technologies LLC lifted its stake in Curbline Properties by 214.7% during the first quarter. Renaissance Technologies LLC now owns 342,501 shares of the company's stock worth $8,833,000 after purchasing an additional 233,684 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Curbline Properties by 22.0% during the 1st quarter. Public Employees Retirement System of Ohio now owns 162,163 shares of the company's stock valued at $4,182,000 after purchasing an additional 29,290 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of Curbline Properties during the 1st quarter valued at about $243,000. Caxton Associates LLP purchased a new position in shares of Curbline Properties during the 1st quarter valued at about $283,000. Finally, Sei Investments Co. raised its holdings in shares of Curbline Properties by 24.6% during the 1st quarter. Sei Investments Co. now owns 525,966 shares of the company's stock valued at $13,565,000 after buying an additional 103,853 shares in the last quarter.

Analyst Ratings Changes

A number of research firms recently weighed in on CURB. JPMorgan Chase & Co. boosted their target price on Curbline Properties from $30.00 to $31.00 and gave the stock an "overweight" rating in a research report on Monday, May 4th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Curbline Properties in a research report on Wednesday, July 29th. Wall Street Zen raised shares of Curbline Properties from a "strong sell" rating to a "sell" rating in a research note on Saturday. KeyCorp upped their price objective on shares of Curbline Properties from $32.00 to $34.00 and gave the company an "overweight" rating in a research note on Wednesday, July 29th. Finally, Piper Sandler lifted their target price on shares of Curbline Properties from $39.00 to $40.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 29th. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $31.11.

Curbline Properties Trading Down 0.5%

Shares of CURB stock opened at $30.09 on Wednesday. The business has a 50-day moving average of $30.37 and a 200 day moving average of $27.95. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.63 and a quick ratio of 0.63. Curbline Properties Corp. has a 1-year low of $21.73 and a 1-year high of $32.15. The stock has a market capitalization of $3.46 billion, a PE ratio of 111.45 and a beta of 0.51.

Curbline Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 9th. Shareholders of record on Thursday, June 18th were given a $0.17 dividend. The ex-dividend date was Thursday, June 18th. This represents a $0.68 annualized dividend and a yield of 2.3%. Curbline Properties's payout ratio is presently 251.85%.

Insider Buying and Selling at Curbline Properties

In other news, EVP Conor Fennerty sold 55,105 shares of the firm's stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $30.38, for a total value of $1,674,089.90. Following the transaction, the executive vice president owned 153,909 shares in the company, valued at approximately $4,675,755.42. This trade represents a 26.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 8.70% of the company's stock.

Curbline Properties 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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