Curbline Properties authorizes $250 million share buyback program

Curbline Properties Corp. (NYSE: CURB) announced that its board of directors has authorized a $250 million share repurchase program. The real estate investment trust also filed a Form 8-K regarding the implementation of a $250 million at-the-market stock offering program.

The company owns convenience shopping centers located at high-traffic intersections and major vehicular corridors in suburban communities with high household incomes. Curbline operates as a self-managed REIT focused on convenience properties in affluent submarkets.

"The implementation of these two programs provides Curbline with additional tools to create stakeholder value as the Company looks to scale the first public REIT focused exclusively on convenience properties located on the curbline in the wealthiest submarkets in the United States," said Conor M. Fennerty, executive vice president and chief financial officer.

The share repurchase program allows the company to buy back its own stock, while the ATM program enables Curbline to sell shares directly into the market over time. Both programs provide the company with financial flexibility for capital allocation decisions.

Information in this report is based on the company's press release statement.

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