Professional
Added to YB: 2024-10-24
Pitch date: 2024-10-23
CURB [bullish]
Curbline Properties Corp.
+20.14%
current return
Author Info
Merion Road Capital is a fund in Miami focused on value-oriented investing through rigorous fundamental analysis of a company's operations. Follow on Twitter/X.
Company Info
Curbline Properties is the owner and manager of convenience shopping centers. It is positioned on the curbline of well-trafficked intersections and major vehicular corridors in suburban, high household income communities.
Market Cap
$2.8B
Pitch Price
$22.25
Price Target
N/A
Dividend
2.56%
EV/EBITDA
28.16
P/E
70.81
EV/Sales
15.86
Sector
Retail REITs
Category
value
Merion Road Capital New Position: Curbline Properties Corp.
CURB: Convenience real estate spin-off from SITE centers. 96% leased, strong spreads (+28% new, +8% renewal). Low capex, high-growth areas. $600M cash, no debt for acquisitions. Trading at $554/GLA vs. $710/GLA recent purchases. FCF yield attractive. Well-positioned in active submarket as public acquirer.
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