Curbline Properties Management
Management criteria checks 3/4
Curbline Properties' CEO is David Lukes, appointed in Nov 2023, has a tenure of 2.75 years. total yearly compensation is $3.28M, comprised of 1.5% salary and 98.5% bonuses, including company stock and options. directly owns 0.55% of the company’s shares, worth $18.97M. The average tenure of the management team and the board of directors is 2.8 years and 1.9 years respectively.
Key information
David Lukes
Chief executive officer
US$3.3m
Total compensation
| CEO salary percentage | 1.52% |
| CEO tenure | 2.8yrs |
| CEO ownership | 0.5% |
| Management average tenure | 2.8yrs |
| Board average tenure | 1.9yrs |
Recent management updates
Recent updates
CURB: Acquisition Pace And Equity Funding Will Shape Premium Rating Outlook
Curbline Properties' fair value estimate has been revised to $32.56 from $31.13. This change reflects analysts' higher price targets and their focus on sector rerating, acquisition driven growth, and the company's balance sheet quality.CURB: Acquisition Pipeline And Equity Issuance Will Test Premium Rating
The updated analyst price target for Curbline Properties moves from about $26.81 to roughly $31.13, with analysts pointing to strong acquisition activity, widening investment spreads, an $8M Signed Not Opened pipeline, and a solid balance sheet as key supports for the new view. Analyst Commentary Recent research on Curbline Properties shows a split view, with bullish analysts raising price targets while more cautious voices question how long the acquisition driven story can support the current valuation.Curbline: Rapid Growth At A Fair Valuation, But Waiting Makes Sense
Summary CURB targets smaller, high-traffic properties for higher margins and occupancy, differentiating from larger-format retail REITs, focusing on strategic MSAs like Miami and Atlanta. Aggressive but disciplined expansion: 2025 acquisition target raised to $700M, with a long-term hold strategy and selective geographic focus. Despite strong FFO growth and a cheap PEG, CURB trades at a premium P/FFO multiple (21.5x), signaling overvaluation versus peers like FVR and IVT. Dividend yield remains low (1.42%), with limited near-term upside due to high reinvestment, lagging behind peers in income return despite strong cash flow growth. Read the full article on Seeking AlphaCurbline Properties: Despite Huge Net Cash, Not A No-Brainer Buy
Summary Curbline Properties spun off from SITE Centers and boasts a market cap three times larger than its parent company. CURB's diversified tenant base, substantial cash reserves, and no leverage offer significant growth potential through acquisitions and higher rent escalations. Despite its strong financial position, CURB's valuation is high, with a premium priced in. The cyclical nature of CURB's tenants and current high valuation present risks, making it less attractive until valuation multiples decrease. Read the full article on Seeking AlphaCurbline Properties: Evaluating This Recent Spinoff
Summary Curbline Properties, spun out from Site Centers, focuses on convenience centers with a portfolio of 78 assets, 96% leased, and geographically diversified. Convenience centers have lower capex needs compared to shopping centers, making them attractive investments with potential for cap rate compression. Curbline trades at a 5.3% implied cap rate, a 20% premium to private market NAV, enabling accretive external growth through share issuances and acquisitions. Despite risks like limited trading history and interest rate sensitivity, I hold shares due to the under-appreciated low capex nature and growth potential. Read the full article on Seeking AlphaCEO Compensation Analysis
| Date | Total Compensation | Salary | Company Earnings |
|---|---|---|---|
| Jun 30 2026 | n/a | n/a | US$29m |
| Mar 31 2026 | n/a | n/a | US$32m |
| Dec 31 2025 | US$3m | US$50k | US$39m |
| Sep 30 2025 | n/a | n/a | US$41m |
| Jun 30 2025 | n/a | n/a | US$16m |
| Mar 31 2025 | n/a | n/a | US$12m |
| Dec 31 2024 | US$26m | US$688k | US$10m |
| Sep 30 2024 | n/a | n/a | US$6m |
| Jun 30 2024 | n/a | n/a | US$31m |
| Mar 31 2024 | n/a | n/a | US$32m |
| Dec 31 2023 | US$7m | US$900k | US$31m |
Compensation vs Market: David's total compensation ($USD3.28M) is below average for companies of similar size in the US market ($USD6.92M).
Compensation vs Earnings: David's compensation has been consistent with company performance over the past year.
CEO
David Lukes (56 yo)
Mr. David R. Lukes is President and Chief Executive Officer of Curbline Properties Corp. since November 2023 and serves as Director since July 2024. Mr. Lukes has been the Chief Executive Officer and Presi...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 2.8yrs | US$3.28m | 0.55% $ 19.0m | |
| Executive VP | 2.8yrs | US$2.77m | 0.13% $ 4.6m | |
| Executive VP & Chief Investment Officer | 2.8yrs | US$2.42m | 0.16% $ 5.5m | |
| Executive VP | 2.3yrs | US$1.06m | 0.021% $ 731.7k | |
| Senior VP & Chief Accounting Officer | no data | no data | 0.022% $ 763.5k | |
| Vice President of Capital Markets & Asset Management | no data | no data | no data |
Experienced Management: CURB's management team is considered experienced (2.8 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 2.1yrs | US$3.28m | 0.55% $ 19.0m | |
| Independent Chair of the Board | 1.9yrs | US$207.50k | 0.060% $ 2.1m | |
| Independent Director | 1.9yrs | US$92.50k | 0.096% $ 3.3m | |
| Independent Director | 1.9yrs | US$90.00k | 0.015% $ 523.7k | |
| Independent Director | 1.9yrs | US$75.00k | 6.64% $ 229.2m | |
| Independent Director | 1.9yrs | US$110.00k | 0.037% $ 1.3m | |
| Independent Director | 1.9yrs | US$95.00k | 0.031% $ 1.1m |
Experienced Board: CURB's board of directors are not considered experienced ( 1.9 years average tenure), which suggests a new board.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/08/18 22:02 |
| End of Day Share Price | 2026/08/18 00:00 |
| Earnings | 2026/06/30 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
| |
| Analyst Consensus Estimates | +3 years |
|
|
| Market Prices | 30 years |
| |
| Ownership | 10 years |
| |
| Management | 10 years |
| |
| Key Developments | 10 years |
|
* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the world class team who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Curbline Properties Corp. is covered by 10 analysts. 7 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Nicholas Joseph | Citigroup Inc |
| Michael Mueller | J.P. Morgan |
| Todd Thomas | KeyBanc Capital Markets Inc. |