Citi analyst Craig Mailman initiates coverage on $Curbline Properties (CURB.US)$ with a hold rating, and sets the target price at $25.
According to TipRanks data, the analyst has a success rate of 56.8% and a total average return of 5.2% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Curbline Properties (CURB.US)$'s main analysts recently are as follows:
Curbline Properties, having been spun off from SITE Centers, may be considered a new entity, yet its management team and assets are already familiar to public investors. The company boasts a 'clean' financial slate, bolstered by an initial capitalization of $800M in cash along with an untapped $100M term loan, which offers significant potential for accretive acquisitions. This is set against a backdrop of a smaller asset base with robust tenant credit quality and potentially lower long-term capital expenditures compared to industry counterparts. Despite these favorable factors, the company's stock carries a 'premium' relative valuation.
The approach of Curbline Properties in the strip center real estate investment trust sector is considered unique due to its concentration on smaller-format, unanchored, convenience centers. These centers are typically located along the curbline of major streets and intersections, offering easy access. The business model and the future potential for the stock are viewed favorably.
Curbline Properties is considered well positioned to achieve above-average growth in net asset value and funds from operations over time. However, this premium growth compared to peers is believed to be accounted for in the stock's current valuation. A more constructive perspective might be adopted following a market pullback.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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