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. The Company is a self-managed real estate investment trust (REIT) that is publicly traded under on the NYSE.
Full CURB analysis →
Competitive advantage assessment
Key strengths
Conservative LeverageLeverage is conservative (score 0.99), providing refinancing flexibility.
Curbline Properties Corp. ranks #8 of 33
scored companies in REIT - Retail by moat score — the top 24%.
The widest moat in the group is NNN REIT, Inc. (NNN)
at 79/100.
Moat scores for companies ranked near CURB in REIT - Retail
For a REIT, pricing power is the ability to raise rents at renewal and still keep the space occupied.
AFFO Strength
Score 92
· 18% of the moat score
AFFO — adjusted funds from operations — is the cash a REIT can actually distribute after the recurring capital spending buildings need in order to stay leasable.
Balance Sheet & Cost of Capital
Score 95
· 20% of the moat score
Real estate is bought with borrowed money, so a REIT's cost of capital is its competitive advantage.
Capital Recycling & Growth
Score 72
· 16% of the moat score
REITs grow by issuing shares and debt to buy more property, which creates value only when the yield on the asset exceeds the cost of the capital raised.
Operational Efficiency
Score 51
· 14% of the moat score
Running property — leasing, maintenance, taxes, management — is the part of the business a REIT genuinely controls.
Portfolio Quality & Diversification
Score 57
· 12% of the moat score
Portfolio quality is really a question about what happens when a tenant fails.
Curbline Properties Corp. (CURB) scores 64 out of 100 on the StatsAlpha Moat Map, which rates its competitive advantage as moderate. It ranks #8 of 33 scored companies in REIT - Retail, the top 24%. The score is a weighted composite of 6 competitive defenses, each measured against industry peers of 37 companies in REIT - Retail. Its strongest defense is Balance Sheet & Cost of Capital (95/100) and its weakest is Rent Pricing Power (13/100).
How does Curbline Properties Corp. compare with other REIT - Retail companies?
Curbline Properties Corp. ranks #8 of 33 scored companies in REIT - Retail by moat score. The widest moat in REIT - Retail is NNN REIT, Inc. (NNN) at 79/100. The companies ranked closest are InvenTrust Properties Corp. (IVT) at 64 just above it and Regency Centers Corporation - 5 (REGCO) at 62 just below it.
How is the moat score calculated?
Each company is scored with an industry-specific template — REIT Specialized in this case, chosen because the defenses that matter to a bank are not the ones that matter to a software company. Every defense combines several financial signals, and each signal is measured as a percentile against a peer group of 37 companies in REIT - Retail. The defenses are then weighted to produce the overall score out of 100.
Why is Curbline Properties Corp. scored with the REIT Specialized template?
A REIT is a portfolio of buildings financed with debt and required to distribute most of its taxable income. Reported earnings are dominated by depreciation on assets that often appreciate, so net income says very little; the real question is how much cash the properties distribute, and how securely. The REIT template scores what determines that: rent pricing, distributable cash, cost of capital, and the discipline behind growth.
Which competitive defenses are measured for Curbline Properties Corp.?
The REIT Specialized template measures 6 defenses, and CURB scores: Rent Pricing Power (13), AFFO Strength (92), Balance Sheet & Cost of Capital (95), Capital Recycling & Growth (72), Operational Efficiency (51), Portfolio Quality & Diversification (57). Each is scored independently as a percentile against peers, so a company can be strong on one and weak on another — the overall score reflects how those defenses are weighted for this industry.
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