Curbline Properties reports Q2 2026: Net income $6.9M, OFFO $33.3M, $374M acquisitions

Curbline Properties reported second-quarter 2026 net income attributable to the company of $6.9 million ($0.06 diluted) and operating funds from operations (Operating FFO or OFFO) of $33.3 million ($0.31 diluted). For the six months ended June 30, 2026, net income attributable to the company was $1…

Curbline Properties reported second-quarter 2026 net income attributable to the company of $6.9 million ($0.06 diluted) and operating funds from operations (Operating FFO or OFFO) of $33.3 million ($0.31 diluted). For the six months ended June 30, 2026, net income attributable to the company was $10.5 million ($0.10 diluted) and OFFO was $63.3 million ($0.59 diluted). The company completed $374.1 million of acquisitions in Q2 and increased 2026 OFFO guidance to $1.24–$1.26 per diluted share.

Financial Highlights

Revenue (rental income) for 2Q26: $63.077 million; rental and other property revenues total $63.296 million for the quarter.
Net income attributable to Curbline for 2Q26: $6.910 million, or $0.06 per diluted share; six months ended June 30, 2026 net income attributable: $10.473 million, or $0.10 diluted.
Operating FFO (OFFO) for 2Q26: $33.333 million ($0.31 per diluted share); OFFO for 6M26: $63.279 million ($0.59 per diluted share).
Depreciation and amortization (2Q26): $26.464 million; interest expense (2Q26): $8.372 million; interest income (2Q26): $1.477 million.
Updated FY2026 guidance: net income attributable $0.27–$0.32 per diluted share; Operating FFO $1.24–$1.26 per diluted share.

Business Highlights

Acquisition activity: Acquired 30 convenience shopping centers in Q2 for aggregate purchase price of $374.1 million; year-to-date 2026 acquisitions total 48 properties for $563.7 million and 1,020 properties/Gross figures shown in supplement reflect $563.7 million YTD.
Capital markets activity: Sold shares on a forward basis generating expected gross proceeds of $186.5 million (ATM) in Q2 and conducted a forward offering in June expected to generate $354.8 million; settled 8.4 million forward shares for net proceeds of $199.8 million.
Balance sheet and liquidity: As of June 30, 2026, the company reported $154.7 million of cash and $696.2 million of expected gross proceeds from unsettled forward equity sales (combined cash and capital commitments of $850.9 million for future acquisitions, adjusted for forward equity sales).
Portfolio & operating metrics: Portfolio at June 30, 2026 comprised 220 properties (total GLA 5,745k sq ft), leased rate 96.5%, commenced rate 94.3%; same-property net operating income (SPNOI) rose 2.1% for the six months ended June 30, 2026 versus prior year.
Leasing and tenant performance: Trailing twelve-month cash new leasing spreads 20.2% and cash renewal leasing spreads 7.4%; signed-not-opened (SNO) spread of 220 basis points representing $7.6 million of annualized base rent; TTM leasing GLA totaled 521k.

Original SEC Filing:

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