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    Curbline Properties (CURB) Valuation Check After KeyBanc Upgrade and Double-Digit AFFO Growth Outlook

    Simply Wall St·12/05/2025 03:22:36
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    KeyBanc’s upgrade of Curbline Properties (CURB) is drawing fresh attention, as the firm points to double digit AFFO growth, high occupancy, and lower capital spending needs that could support steadier cash flows.

    See our latest analysis for Curbline Properties.

    Even with the latest share price sitting at $23.65, Curbline’s roughly 3% 3 month share price return and modest 1 year total shareholder return suggest momentum is picking up rather than fading as investors reassess its cash flow potential.

    If KeyBanc’s upgrade has you rethinking this corner of real estate, it could be a good moment to broaden your search and discover fast growing stocks with high insider ownership.

    With shares still trading at a notable discount to analyst targets despite brisk revenue growth and high occupancy, should investors view Curbline as quietly undervalued or assume the market is already pricing in its next leg of growth?

    Price-to-Earnings of 60.7x: Is it justified?

    Curbline Properties screens as significantly overvalued on traditional earnings metrics, with a 60.7x price-to-earnings ratio at the last close of $23.65.

    The price-to-earnings multiple compares what investors pay today for each dollar of current earnings, a key yardstick for REITs where recurring profit is closely watched. At 60.7x, the market is effectively placing a steep premium on Curbline's current earnings power, implying that investors expect either sustained growth or structurally higher profitability than history suggests.

    That premium looks stretched when set against several benchmarks. The SWS fair price-to-earnings ratio for Curbline is 30.7x, meaning the current multiple is roughly double the level our fair ratio analysis points to as more reasonable. It is also higher than both the peer average of 57.3x and the broader US Retail REITs industry average of 26.6x, underscoring that the market is pricing in much richer earnings expectations for Curbline than for its typical sector peer.

    Explore the SWS fair ratio for Curbline Properties

    Result: Price-to-Earnings of 60.7x (OVERVALUED)

    However, softer net income trends, combined with a still rich valuation, leave little margin for error if revenue momentum stalls or leasing conditions tighten.

    Find out about the key risks to this Curbline Properties narrative.

    Another View: DCF Points to Deep Value

    Our DCF model tells a very different story, suggesting fair value near $56.64 versus today’s $23.65 share price. That implies Curbline could be trading at a steep discount, even as earnings are expected to edge lower. Is the market being too cautious about future cash flows?

    Look into how the SWS DCF model arrives at its fair value.

    CURB Discounted Cash Flow as at Dec 2025
    CURB Discounted Cash Flow as at Dec 2025

    Simply Wall St performs a discounted cash flow (DCF) on every stock in the world every day (check out Curbline Properties for example). We show the entire calculation in full. You can track the result in your watchlist or portfolio and be alerted when this changes, or use our stock screener to discover 909 undervalued stocks based on their cash flows. If you save a screener we even alert you when new companies match - so you never miss a potential opportunity.

    Build Your Own Curbline Properties Narrative

    If our take does not quite match your own view, dive into the numbers yourself and craft a customized storyline in just minutes, Do it your way.

    A great starting point for your Curbline Properties research is our analysis highlighting 3 key rewards and 1 important warning sign that could impact your investment decision.

    Looking for more investment ideas?

    Do not stop at Curbline when the rest of the market is full of overlooked opportunities. Let Simply Wall St’s screener surface your next high conviction idea.

    This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.