Curbline Properties
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Curbline Properties (CURB) investor relations material

Curbline Properties Q3 2026 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2026 earnings summary22 Oct, 2026

Executive summary

  • Portfolio totaled 239 convenience centers and 6.1M sq. ft. at Sept. 30, 2026; leased rate was 96.4% and occupancy was 94.5%.

  • Q3 total NOI rose 47.9% YoY to $53.271M; same-property NOI grew 3.4%.

  • Q3 Operating FFO was $37.4M, or $0.32 per diluted share, versus $29.5M, or $0.28, YoY; net income was $7.4M, or $0.06 per diluted share.

  • Acquisitions since the October 2024 spin-off exceeded $1.7B; 72 centers totaling $800.0M were acquired through Oct. 22, 2026.

Financial highlights

  • Q3 revenue was $71.1M versus $48.6M YoY; Q3 net income attributable to common shareholders was $7.4M versus $9.3M, and diluted EPS was $0.06 versus $0.09.

  • 9M revenue was $192.4M versus $128.7M; net income attributable to common shareholders was $17.9M versus $30.3M, and diluted EPS was $0.16 versus $0.28.

  • 9M Operating FFO was $100.7M, or $0.91 per diluted share, versus $81.6M, or $0.78; Q3 Operating FFO per diluted share was $0.32 versus $0.28.

  • Q3 interest expense rose to $8.5M from $4.0M and depreciation and amortization to $29.7M from $19.8M; interest income declined to $0.7M from $4.1M.

Outlook and guidance

  • FY26 Operating FFO guidance increased to $1.25–$1.27 per diluted share from $1.24–$1.26; net income guidance fell to $0.25–$0.29 from $0.27–$0.32.

  • FY26 same-property NOI growth guidance is 2.5%–4.0%; 2024 and 2025 growth was 5.8% and 3.3%, respectively.

  • Guidance assumes over $1B of full-year investments, CapEx below 10% of NOI and FY26 G&A of ~$32M; Q4 G&A is expected just under $9M.

  • Nearly 75% of the SNO pipeline is expected to commence by March 31, 2027, and over 98% by September 30, 2027, supporting occupancy and per-share growth into 2027.

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Frequently asked questions

Curbline Properties Corp is a real estate investment company focused on the acquisition, development, and management of commercial and residential properties. The company’s portfolio includes a range of assets such as office buildings, retail spaces, and multi-family residential units. Curbline Properties specializes in urban properties with a focus on creating value through strategic development, renovation, and effective property management, aiming to cater to both tenants and investors in key markets. The company is headquartered in Toronto, Canada, and its shares are listed on the TSX.