Renaissance Technologies LLC Raises Stake in Curbline Properties Corp. $CURB

Key Points

• Renaissance Technologies significantly increased its Curbline Properties stake by 214.7% in the first quarter, acquiring 233,684 additional shares and ending with a 0.32% ownership position valued at $8.83 million.
• Analysts remain generally positive, with five Buy ratings and four Holds producing a “Moderate Buy” consensus and an average price target of $30.78. Recent targets range from $30 to $34.
• CURB shares opened at $30.57, while the company paid a quarterly dividend of $0.17 per share, equivalent to a 2.2% annualized yield; however, its dividend payout ratio stands at a high 251.85%.

Renaissance Technologies LLC increased its position in shares of Curbline Properties Corp. (NYSE:CURB - Free Report) by 214.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 342,501 shares of the company's stock after purchasing an additional 233,684 shares during the period. Renaissance Technologies LLC owned 0.32% of Curbline Properties worth $8,833,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of CURB. Public Employees Retirement System of Ohio lifted its position in shares of Curbline Properties by 22.0% in the first quarter. Public Employees Retirement System of Ohio now owns 162,163 shares of the company's stock worth $4,182,000 after buying an additional 29,290 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in Curbline Properties during the first quarter valued at approximately $243,000. Caxton Associates LLP purchased a new position in Curbline Properties during the 1st quarter valued at approximately $283,000. Sei Investments Co. grew its holdings in 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. Finally, State of Wyoming increased its stake in Curbline Properties by 291.6% in the 1st quarter. State of Wyoming now owns 22,249 shares of the company's stock worth $574,000 after acquiring an additional 16,567 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CURB. Morgan Stanley restated an "equal weight" rating and set a $30.00 price target on shares of Curbline Properties in a report on Thursday, June 18th. JPMorgan Chase & Co. boosted their price objective on shares of Curbline Properties from $30.00 to $31.00 and gave the company an "overweight" rating in a research report on Monday, May 4th. KeyCorp upped their price target on shares of Curbline Properties from $32.00 to $34.00 and gave the company an "overweight" rating in a report on Wednesday. Weiss Ratings reissued a "hold (c+)" rating on shares of Curbline Properties in a research report on Wednesday. Finally, Wolfe Research downgraded shares of Curbline Properties from an "outperform" rating to a "peer perform" rating in a research note on Monday, June 15th. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $30.78.

Insider Buying and Selling

In other news, EVP Conor Fennerty sold 55,105 shares of the business's stock in a transaction dated 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 completion of the sale, the executive vice president owned 153,909 shares in the company, valued at approximately $4,675,755.42. The trade was a 26.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 8.70% of the company's stock.

Curbline Properties Stock Performance

CURB stock opened at $30.57 on Monday. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.63 and a quick ratio of 0.63. The business has a 50-day moving average price of $30.30 and a 200 day moving average price of $27.86. The company has a market capitalization of $3.52 billion, a P/E ratio of 113.22 and a beta of 0.51. Curbline Properties Corp. has a 1-year low of $21.62 and a 1-year high of $32.15.

Curbline Properties Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 9th. Shareholders of record on Thursday, June 18th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Thursday, June 18th. This represents a $0.68 dividend on an annualized basis and a yield of 2.2%. Curbline Properties's dividend payout ratio (DPR) is 251.85%.

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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